How to set up Dynamic Discount?
In this article, we will discuss the feature of Dynamic Discount and show you how to set it up.
Dynamic discount is a feature that enables the Operator to apply/enable the option of discounts over to the complete assortment of its vendors, to be availed by their end consumers (buyers).
There will be an X% applied on the assortment resulting in a new discounted price. For eg. If a 20% discount is applied on a $100 SKU, it will then be sold at the price of $80 and $20 will be a discount offered to the customer.
This feature will act as an added advantage as a new option introduced for an overall customer experience, with more customer tractions, generating higher customer traffic and hence will turn out better conversions with higher transactions and increased cart values.
Remember: The feature of Dynamic discount works based on the choice of action the vendor will make; If the vendor accepts the discount only then the vendor payouts will be calculated according to the decision made by the vendor. In case of rejection of the discount by the vendor, the vendor payouts will not deduct any discounts.
Note: Before enabling the Dynamic Discount from Marketcube it is required to have the discount set up in your Shopify account.
How to set up the Discount in Shopify:
1. Log into your Shopify account >> Click on Discounts.
2. Set up the Discount ( ANY) >> Click Save.
How to enable the Dynamic Discount in Marketcube:
1. Login to your Marketcube account >> Click on Settings.
2. Navigate to the Orders section >> Click on Dynamic Discount.
3. Under Manage Dynamic Discount Select the checkbox "Allow my vendors to offer dynamic discount " for Enabling the Dynamic Discount.
4. After Enabling the Dynamic Discount Select the vendor.
- Click on Allow for all your associated vendors for enabling the discount for your all associated vendors.
- Click on Allow for your selected vendors for enabling the discount for your selected vendors and Click on +Add more for selecting the vendor.
In case you have selected Allow for all your associated vendors the Dynamic Discount will be enabled for all of your associated vendors.
Once enabled, an email (Screenshot attached) will be sent to all your vendors to inform them you have enabled the Dynamic discount which they are required to Accept/Reject.
For Accepting/Rejecting the discount, vendors can click on the View Button given in the email.
Vendors can log in to their Marketcube account and go to the Settings. Under Orders, they need to visit the Dynamic Discount option to Enable or Disable the discount.
Once Enabled by the vendor, the system will be allowed to sync the operator-provided Shopify discount to the operator’s and vendor’s Marketcube account and calculate the payouts as per discounted order prices.
Also, after Enabling an email will be triggered to the operator stating the vendor has accepted the dynamic discount.
In cases where the vendor has Disabled the Dynamic Discount, the system will not be allowed to sync the operator provided Shopify discount to the operator’s and vendor’s Marketcube account and calculate the payouts as per the original prices.
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