What is Effective Pricing?

The effective price includes all associated discounts occurring at the time of purchase. What we want to know is how much would this item be if you purchased it right then?

Collecting Min, Max, Mode

For each Handbag Collection and Shoes, you will be asked to collect the effective selling price.

NOTE: Record the exact ​price - don't round!

Minimum price: the lowest selling price in the store for an item in a specific category

Maximum price: the highest selling price in the store for an item in a specific category

** For Outlet visits only, you will also collect the MODE price 

Mode price: the most common selling price in the store for an item in a specific category. Think of this as the answer to the question, "How much is the typical bag in this collection?” 

Remember, the mode is not a calculation, rather, it is the price seen the most often for that particular collection. 

MIN Prices and promotions 

It’s important that the Min price = the lowest price seen on promotion. Unfortunately, the survey will not adjust prices from the promotion page into the pricing grid, so it’s important to make note of the lowest promotion prices so you can accurately reflect this in your pricing grid. 

This is especially important for Outlets where we often see storewide sales. If all the inventory in the store is 50% off, you will have to manually deduct 50% from your prices as you enter them into the survey. Stores rarely update the actual price tags, they just take the discount at the register. 

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