Price Override
Price Override is used to either modify the discount (or price) for an item for which the system recommends a promotion or markdown or add a promotion or markdown to an item that did not receive a promotion or markdown. The former is counted towards Overrides, and the latter is counted towards User Added.
When you select recommendations and click Price Override, it displays a Price Override screen. You can select Price Type as Promotion or Markdown. Then, you can use either a percentage logic or a Price point logic. Depending on the supplied price ladders (options are price point or % off ladder), the price override is applied as follows:
Table 7-3 Price Override
| Price Type | Logic | Price Ladder Assigned | Calculation of Override Price |
|---|---|---|---|
|
Promotion |
Percentage |
Percent Off Original or Ticket Price ladder (for example, 5%, 10%, …) |
First % off ladders are converted into amounts either using the original or current price specified in the UI. After applying the discount as specified, the nearest price on the ladder subject to rounding criteria and tolerance is used. |
|
Promotion |
Percentage |
Price point ladder (for example, 13.97, 15.97, 16.97, …) |
After applying the discount as specified, the nearest price on the ladder subject to rounding criteria and tolerance is used. |
|
Promotion |
Price point |
Price point ladder (for example, 13.97, 15.97, 16.97, …) |
Price point is applied as selected from the drop-down list. If a price point higher than the current ticket price is selected, that item's price override will not be successful. |
|
Markdown |
Percentage |
Percent off Original Price or Current ticket price ladder (for example, 10%, 20%, 30%…) |
First % off ladders are converted into amounts either using the original or current price specified in the UI. After applying the discount as specified, the nearest price on the ladder subject to rounding criteria and tolerance is used. |
|
Markdown |
Percentage |
Price point ladder (for example, 13.97, 15.97, 16.97…) |
After applying the discount as specified, the nearest price on the ladder subject to rounding criteria and tolerance is used. |
|
Markdown |
Price point |
Price point ladder (for example, 13.97, 15.97, 16.97, …) |
Price point is applied as selected from the drop-down list. If a price point higher than the current ticket price is selected, that item's price override will not be successful. |
This can be illustrated through an example. Consider Original Price as 159.99 and Ticket Price as 127.99 (20% Off). Suppose the price ladder supplied is of type PT (Percentage Off Ticket Price), with points {0%, 5%, 15%, 20%, 25%, 30%}. If the user requests 22% and uses Original Price, then translating the PT ladder with % off from the Original Price provides the following results: {159.99, 151.99, 135.99, 127.99, 119.99, 111.99}. So, 22% off on the Original Price would give us 124.792. Depending on the tolerance and rounding criteria, different results are possible, as explained below.
-
If tolerance is 0%, then 124.792 is not on the price ladder and the price override is unsuccessful.
-
If tolerance is 3%, then the tolerance is 3% * 159.99 = 4.7997. 124.792 +/- 4.7997 gives a lower bound of 119.99 and upper bound of 129.59. This means that price points 119.99, 127.99 are available for to be selected, depending on the rounding logic. If rounding is up, then best price that is close to 124.792 and within tolerance of 3% would give 127.99. If rounding is down, then best price that is close to 124.792 and within tolerance of 3% would give 119.99
Similar to Accept/Reject operation errors, the price override can only be calculated on items that do not have pending calculations and are in Ready for Review status only.
Figure 7-16 Manage Override Price for Price Point
Description of "Figure 7-16 Manage Override Price for Price Point"