Create a Price List

Price Lists let suppliers control which products they offer to retail partners and how those products are priced. By creating a Price List, you can apply margins or discounts, manage currency and rounding rules, and keep pricing consistent across partnerships.

1. Log in to the Modern Dropship app.

2. Navigate to Price Lists and click New Price List.

3. Enter a name for the Price List (for example: Retailer – Q2 Pricing).

4. Select Product Options

   

   Add all active products to this price list - this will add all SKUs that are marked as Active in Modern Dropship to the price list when it is created.

   IMPORTANT: If you do not want to add all active products - Toggle off the "Add all active products to this price list". This will then allow you to select certain products or upload via CSV during the Price List creation.

   Automatically keep this price list up to date with products added to Modern Dropship - When new products are added to Modern Dropship and are Active, they will be automatically added to pricelists with this option turned on.

5. Assign Price List

   Select a Retailer you want to assign the Price List to or you can choose to assign the list at a later date. (Please Note: A Price List can be assigned to multiple Retailers but Retailers cannot have multiple Price Lists assigned to them)

6. Select the currency for the Price List. The base currency is the currency you, as the supplier, will be paid in. If your partner plans on selling in a different currency, you can specify said currency and include a conversion rate which will be used to calculate a new suggested retail price for your retailers.

   Conversion: Using a conversion is optional, and it will NOT change or update based on the ForEx rates of the two currencies, this is a static rate that does not reflect real time market fluctuations.
   
   The conversion rate to apply to your prices where the base price currency (ex: USD) is different than the retail price currency (ex: CAD). This conversion factor only affects your suggested retail prices, not your base prices.

   Imagine you sell a pair of boots in your own Shopify store with a retail price of $120 USD but you want to sell with a Canadian retailer. You input a conversion of 1.4 (the exchange rate from USD to CAD). This means that your suggested retail price will be $168 CAD (1.4 x 120) when your product syncs over to the retailer's ecommerce platform denominated in CAD.

   Rounding: Rounding is optional. This rounding rule can be used to enforce how a suggested retail price rounds after the decimal. If no rounding rules are entered, the price won't be rounded. Valid values are 0-99. More details on how rounding works can be found later in this article.

7. Assign Margins or Discounts

   Next apply a margin to your price list. A margin represents the amount of the Retail price that the Retailer will keep. (Example: Retail Price $20 > Margin 20% > Retailer receives $4 > Supplier receives $16)

Automatically add New Products to Price List

Pricelist > Settings > Apply to New Products

This setting adds all future products synced to Modern Dropship that are active to this Price List. This setting must be done per pricelist and does not apply to all assigned Price lists.

Ignoring Product Updates (Pricing Changes)

To prevent any automatic price changes that may sync to Modern Dropship from your platform from being applied to your Price List, enable the "Ignore Product Updates" toggle. By default, any updates to product price will be reflected in your Price List.

• Your Retail Price - The price synced from the suppliers platform. If there is no currency difference in the partnership, this will also be the retailer Retail price.

• You Earn price - The amount the supplier is paid by the retailer for fulfilling an order

• Dropship Margin - The percentage or fixed amount that is taken off 'Your Retail' price to calculate the 'You Earn' price

• Conversion factor - Used to convert the supplier retail price into the retailer Retail price depending on the difference in the currencies being used in the partnership.

In addition to these topics we have a separate video FAQ here with recorded videos for additional common questions!

Please refer to our detailed guide on Editing Price Lists for instructions on modifying existing price lists.