What are Buy/Wholesale & Recommended Retail Prices?

In TradeGecko, you can set three different prices for your products. They are the following:

  1. Buy Price
  2. Wholesale Price
  3. RRP - Recommended Retail Price

When you enter any of these price details for a variant, they are automatically loaded into either your Sales Orders/Purchase Orders/Web store. This is explained further, below.

If you left out these information when creating your products, you will be prompted for these prices when creating your Sales Orders and Purchase Orders.

Buy Price

The price that you pay your supplier or the price that you purchase your goods for.

  • Is automatically used in Purchase Orders, when buying from vendors. The price used in the Purchase Order can be revised, if need be.
  • Is, along with landed costs, used in the calculation of Moving Average Cost (MAC), and thereby Inventory Value.

Wholesale Price

The price that you sell to your Business Customers for.

  • Is automatically suggested in Sales Orders. The price used in the Sales Order can be revised if need be.
  • Can be thought of as the price you would sell in bulk for. 

RRP - Recommended Retail Price

The price that you sell to your Consumers for.

  • Is the price synced with/pushed to your eCommerce store.
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Comments

  • Avatar
    Eliot Jacobsen

    Please explain "initial cost price" on this page. Thanks.

  • Avatar
    Wesley Parsons

    yes, also looking to understand initial cost price

  • Avatar
    Mark Mesenko

    Same question... what is initial cost?

  • Avatar
    Arron Woolever

    Same as myself. I thought "cost" was "buy price" and it doesn't even list the "cost" in the spreadsheet download so I can copy it over and complete a PO test. It rather blatantly failed to mention that this wasn't and option and that I needed "buy price" to even start a PO.

  • Avatar
    Elizabeth Song

    What if you have different pricing for different Wholesale customers?

  • Avatar
    Allegra Muzzillo

    HELLO, TRADE GECKO???
    Why won't you answer Qs about Initial Price? I agree with Arron: In addition to the fact that Initial Cost doesn't translate, what's the diff between this and Buy Price????? I've opened a ticket because I'm virtually unable to find any answer to this question anywhere. Someone should address this ASAP. These comments are MONTHS old.

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