How to update catalog prices
When costs move often, as they do with inflation in Argentina, updating prices is routine work rather than an exception. This guide puts the process in order so it is quick and no old prices are left behind.
Updated:
In short
To update catalog prices, start from one master list, apply the increase by percentage for each supplier or category, round with a fixed rule and publish the new prices on your website, in the store and on your price lists the same day. Then let anyone with an open quote know, and honor its validity date.
Common mistakes when updating prices
Updating only one channel
The website says one thing and the store tag another. Customers lose trust even when the gap is small.
Old PDFs still circulating
Lists sent over WhatsApp live on for months. Date every list and send links instead of files.
Adding percentages
Two increases in a row compound, because the second applies to the already raised price. The total ends up a bit higher than the sum of both.
Raising everything equally
If each supplier raised prices by a different amount, a single percentage leaves some products overpriced and others below cost.
Quotes with no expiry
A quote without a validity date leaves you holding an old price or arguing about it with the customer.
Updating prices, step by step
- 1
Keep one master list
A spreadsheet with code, supplier, cost, markup and retail price. The website, shelf tags and price lists all come from it.
- 2
Work out the increase per supplier
When a new supplier list arrives, compare costs and calculate the percentage for each supplier or category. If your markup is applied on cost, the retail price rises by the same proportion.
- 3
Round with a fixed rule
Pick one rule and always use it, such as rounding up to the nearest ten or hundred. Rounding up protects your margin.
- 4
Publish everywhere the same day
Online catalog, store tags, reseller lists and prices on social media. If one channel lags behind, customers find two prices.
- 5
Tell customers with open quotes
Honor what's within the validity date and let them know before it expires. It is better they hear it from you than at the counter.
How to update catalog prices with percentages
Working by percentage is far more practical than going product by product. If your prices come from cost plus markup, update the cost and let the markup do the rest. If you work directly on retail prices, apply the increase each supplier gave you rather than one number for the whole catalog.
Keep in mind that increases compound. If a supplier raised prices twice since your last update, apply one increase on top of the other instead of adding them up.
Rounding without losing margin
A percentage increase leaves prices with odd endings that are hard to read and remember. Rounding makes them clearer, and if you always round up, the adjustment never eats into your margin.
Consistency matters most. If one lamp ends in a round number and the next one doesn't, the catalog looks sloppy and customers suspect something was missed.
The same prices online and in the store
Many customers check the online catalog before visiting and arrive with the price on their phone. If the tag says something else, the conversation starts on the wrong foot. The fix is a single source. The master list rules, and the website, tags and reseller lists are updated from it on the same day.
In Lucy, the bulk adjustment applies a percentage increase to every product with a price in one step. Because each product has its own link, the new price shows up in every link you have already shared. With your store's QR code by the counter, anyone can check the current price right there.
How to communicate a price change
Where inflation is high, as in Argentina, customers know prices move. What causes friction is surprise. Put a validity date on every quote, show the date of the last update in the catalog and, before an increase, tell anyone with an open quote.
Send resellers and architects the new list with the date it takes effect or, better, a link to the catalog, which always shows the current price.
Frequently asked questions
How often should I update prices?
When your costs change, not on a fixed calendar. In practice, update every time a major supplier sends a new list. With high inflation, as often happens in Argentina, review more often and keep customers informed in an orderly way.
Should I raise the whole catalog by one percentage?
Only if all your suppliers raised prices by about the same amount. Otherwise apply a percentage per supplier or category. A single increase is fast, but it leaves some products with too much margin and others priced below what they cost to restock.
How should I round prices after an increase?
Choose one rule and stick to it, such as rounding up to the nearest hundred. Rounding up protects your margin, and consistent endings make the catalog look tidy and easy to read.
Do I have to honor an old quote?
Stand by what you said. If the quote had a validity date and it hasn't passed, the price holds. That is why every quote should carry a clear date, so neither you nor the customer has any doubt about which price applies.
How do I stop old price lists from circulating?
Date every list and, whenever you can, send a link to the online catalog instead of a PDF. The link always shows the current price, and there are no old versions left to forward.
Keep reading
- FeaturesPrice adjustmentOne percentage and one click to raise prices across your whole lamp catalog at once.
- GuidesOnline lighting catalogWhat each product page needs, how to organize the catalog and how to keep prices current.
- Who it’s forLighting storesYour catalog with every lamp in a room by day and lit at night, ready to share.
Your catalog, by day and lit at night
We migrate your catalog, stage every lamp, and you edit prices whenever you want.