Monthly Archives: October 2018
Both Liberty by Resaleword and SimpleConsign by Traxia, the two leading point of sale (POS) systems in the resale and consignment industry, now count store-centric pricing guides, among their many features. These store-centered Pricing Guides, custom built by individual stores, greatly reduce the time spent pricing items for resale. Pricing is a voracious time and money eater. They also insure more consistent and thus trusted prices, a boon to sales.
At the same, Resaleworld has been and Traxia will soon be offering NextGen’s pricing guides built on the pricing records of multiple stores throughout North America. Why both?
Store centered systems can work for stores that have the time build and maintain their pricing guides, and that have a sufficient base of reasonably current and profitable sales upon which to build. However, many, if not most, stores do not. Their pricing data is too thin or is colored by poor pricing practices, e.g. automatic markdowns and employee pricing, shown to result in under-pricing and inconsistent pricing respectfully.
While the vast majority of stores using the NextGen Pricing system do so for life, a small number opt to use the built-in Pricing Guide to build their own once they’ve entered a sufficient base of NextGen Prices upon which to build.