Want to skip doing the math to set your prices? No problem!

If your product doesn't have a retail price yet, you'll see a blue link to "Generate Price" in Thrive Inventory by Shopventory - under the Price box.

Just click that link to launch Thrive's Pricing Calculator.


Pricing Calculator

The calculator will prompt you to use a sliding scale and select what kind of profit margin you'd like to make on your item.

The formula for profit margin is "profit/revenue". Put another way, (price - cost) / price." (Note that this is not the same as markup.)

If you buy an item for $3 and sell it for $5, your margin is $2 / $5 = 0.40, or 40%.

After selecting your ideal profit margin, you can choose a strategy that reflects how you'd like the final price to appear.

Thrive Inventory will suggest a price based on all of the above criteria, and you can simply click Apply to keep it!

Advanced

If you'd like to create a custom pricing strategy and apply it to your entire inventory at once, you can use the bulk spreadsheet tool: "Edit Variants." Simply enter your desired formula in the Price column and draw upon the Cost column for reference.

  • Read more on bulk uploads here.

If you want to see your current profit margins on a spreadsheet, you can do so by generating an Inventory Report, exporting it as a CSV and the Profit Margin (%) will show on Column N. From there, you can sort ascending or descending based on what you are looking to take a closer look at!


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