Apparel Effective Pricing

Effective Pricing

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

Min $: Minimum selling price for each brand/inventory category

Max $: Maximum selling price for each brand/inventory category 

Mode $: Most common selling price for each brand/inventory category. This is NOT a calculation, but rather the price for the brand/category you see the most frequently. 

Think of it as the answer to the question "how much is the typical Women's Athletic T-shirt"?

NOTE: Record the exact price - don't round! If something is $12.12, we want you to record $12.12, not $12, and not $13. 

For example, if you saw:

5 Tops at $19.99
12 Tops at $29.99
7 Tops at $49.99

You would record the effective pricing for Tops as: 

Min $ = $19.99
Max $ = $49.99
Mode $ = $29.99

***NOTE: If there is an equal number of items at two different price points, both be the most frequent (mode). Taking the average of those two prices will result in the effective mode.

For example, if you saw:  

12 Tops at $19.99
12 Tops at $29.99
7 Tops at $49.99

You would record the effective pricing for Tops as: 

Min $ = $19.99
Max $ = $49.99
Mode $ = $24.99  ([19.99 + 29.99] / 2)

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