The price is what you charge your customers, while the cost is what you pay to get the products.

If you want advice on setting a price, go directly to our Generate a Price section and learn more about our price calculator. Or check out this great blog article.

With Thrive, we have several options for setting up more dynamic pricing, including location-specific, integration-specific, wholesale pricelists, and more - which we’ll cover in the rest of this article.

The default price is used across all integrations if no other pricing conditions are set. This is the most common and fundamental level of pricing in Thrive.

You can find and edit the Default Price in the Product Details Page under Pricing.

For guidance on setting a price, use the generate price option to choose your ideal profit margin. The price generator helps you calculate prices based on your cost and desired profit margin, no math needed!

If you're using the Product Details Page, you'll see the option to open the Price generator whether the price is blank or not.

Don't see it? Make sure you're in edit mode!

Regardless of how you access it, the calculator will prompt you to use a sliding scale and select the profit margin you want to make on your item.

The formula for profit margin is "profit/revenue". Put another way, (price - cost) / price."

NOTE: This is not the same as markup. If you buy an item for $3 and sell it for $5, your margin is $2 / $5 = 0.40, or 40%.

After selecting your ideal profit margin, you can choose a strategy that reflects how the final price appears.

The options include:

We will suggest a price based on the above criteria, and you can simply click “Apply price” to assign it to that product!

Use the Edit Variants Bulk Upload Spreadsheet to create a custom pricing strategy and apply it to your entire inventory. Simply enter your desired formula in the Price column and draw upon the Cost column.

To see your current profit margins on a spreadsheet, generate an Inventory Report and export it as a CSV. From there, sort ascending or descending based on what you want to look at!

There are three options for setting a price type for a product. Some of these are limited depending on your integration, but here are the options that we offer.

Works for all integrations and is the "usual" setup where a product has a standard price and only whole quantities are sold.

This is for when you want the option to assign a price at the POS. Variable prices can be set in one of two ways:

Selling products by measured units (e.g., per gallon, per ounce, per kilogram, etc.). These can be partial or whole units and are only for Clover and Square users.

NOTE: If you were using any previous workaround where you would import products from your integration, we highly recommend re-importing those prices from your integration using the steps above

Location-specific pricing allows you to sell the same item at a different price for each location.

Location - specific pricing can be enabled under the Pricing Section of the Product Details Page. Toggle the Use Defaults setting off under By Location, and enter your location-specific price!

Once saved, this price will sync to your enabled sales channels.

Under Product Settings, enable location-specific settings from the Bin Details Page. You can then edit location-specific price and other details from the Location-Specific Settings section.

Another option for enabling location-specific pricing to multiple products in bulk is by using the Edit Variants Bulk Upload Spreadsheet.

Location-specific pricing is not supported for Multi-Location Shopify (Shopifys with the same URL). Any location-specific price will change the overall price across all Shopify locations. However, location-specific pricing is supported for two completely separate Shopify websites.

Different prices between your in-store POS and your website or any two integrations are common for many businesses.

In the Pricing Section of the Product Details Page, you can add Integration-Specific pricing under By Integration:

Integration-Specific Pricing is also available to edit in the Integrations section of the same page:

Another option for enabling integration-specific pricing to multiple products in bulk is by using the Edit Sales Channel Prices Bulk Upload Spreadsheet.

You can add an integration-specific price to sync to the corresponding integration/location (with some exceptions, which we’ll note next). Integration-specific pricing is available for all of our integrations.

Price-syncing priorities become very important with so many options for places to put a price when editing a product.

The priorities are as follows:

If you don’t have any information in one of the areas, we’ll automatically go down the list to populate your integration with a price.

For example, if you don’t have anything in the integration-specific pricing (1), we’ll automatically send out the price in the location-specific pricing (2). If that area is empty, we’ll sync your default price (3) to your integrations.

If you’re importing a new product for the first time and creating a new product in Thrive, your price in your integration will populate the default price section in Thrive.

If you’re importing an existing product with a different price on your integration, that new price will show up as a price specific to that integration.

Importing from an integration is a task that can affect every product in Thrive, so be sure to reach out to our Customer Care Team if you have any questions.

Any sales report will reflect the price the product was sold at. We get that information directly from your integration at the time of sale.

The Potential Profit summary box on your Inventory Report will be based on your default price (or location-specific price if Use Defaults is disabled).

Let’s say we’re selling a water bottle, and we want a price for customers and a discounted one for Employees. Water Bottle will be the product, while "Regular" and "Discounted Price" will be the two variants.

Right now, they are separate items in your inventory, and with Bundles, we can link their quantities together. Here are the steps from the beginning:

This way, you can have different prices on each entry, but both variants draw from the same quantity.

NOTE: You can have the "Regular" and "Discounted" price" options and completely separate products as well. The process will still work the same.

Now, both products will show up on the register.

A deal can be created with Bundles or Modifiers, where a customer gets a discount by purchasing a higher quantity.

Bundles might be better than Modifiers (or vice versa) depending on the situation, so please explore your options!

Here are the most common bulk deals we see:

Thrive's invoicing platform and pricelists feature streamline and automate your wholesale process. In particular, wholesale invoices allow you to apply a pricelist discount to your products and then invoice the purchaser.

Read more about Wholesale & Pricelists here:

Changing your prices can be done on the Product Details Page, but for faster results, you can use a Bulk Upload spreadsheet

Additionally location-specific prices (and costs) can be edited from the Bins View of the catalog.