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For products with online order history
Learn about how to create and manage trade-in profiles for products within online order history
Trade-in profiles for products with an order history can be set-up in three easy steps:
- 1.Selecting the products from your catalogue that the profile will apply to - we've used the tag system within Shopify to enable you to easily associate specific products with a trade-in profile
- 2.Setting the eligibility criteria - choose the maximum and minimum age of the products that you want to receive back
- 3.Setting the pricing rules for the products - using one of the three rules in our pricing engine, you can choose the most appropriate way in which to price your products for trade-in
You will notice that there are two sections to the trade-in profiles for products with order history: Default trade-in profile and Custom trade-in profiles. These two sections have been designed to give you flexibility and let you be as detailed as you like when creating eligibility and pricing rules for products purchased online.
The default trade-in profile is like any other trade-in profile that you might create, however, it has one key difference; this profile will apply to any products that are not included in a custom profile.
The default profile can be used in a couple of ways including, restricting certain items from being traded-in, or using it to apply one trade-in profile to your entire product catalogue. Additionally, it can also act as a safety net, capturing any items that may fall outside of the custom profiles you've set up.
After newly installing the app, you will have not set-up any custom trade-in profiles, so your whole catalogue will be associated with the default trade-in profile.
Custom trade-in profiles allow you the most control over trade-in pricing and eligibility for products in your catalogue. You can set up as many profiles as you like, or simply use them to apply distinctive criteria to a select few products.
Creating, editing, and updating trade-in profiles is simple and only takes a couple of steps.
Please note, we aren't currently able to save a history of any changes that you make to any trade-in profiles. Any changes will take effect immediately and you will be unable to revert to any previous settings you have chosen
- 1.To edit the default trade-in profile, select Edit default trade-in profile at the top of the page
- 2.Set the eligibility and pricing rules as described below, and then click Save.
How to edit the default trade-in profile for products with online order history
- 1.To create a new custom trade-in profile, select Create trade-in profile in the top right-hand corner of the page.
- 2.Give your trade-in profile a name by entering it in the field provided. This can be as simple or as complicated as you like.
- 3.Select the product tag you wish to associate with this profile. Start typing the name of the tag in the field and select it from the list that appears.
- 4.Set the eligibility and pricing rules as described below, and then click Save.
Please be aware, each custom trade-in profile can only have one product tag associated with it. If you wish to associate a particular group of products with one profile, they must all share the same tag. If you wish to use the tag in another profile instead, you will need to delete the original trade-in profile so the tag is not associated with any other profiles.
To edit an existing custom trade-in profile, simply select it from the list of custom trade-in profiles. You can use the tabs above the search bar to help filter for profiles that are marked as eligible or ineligible for trade-in.
How to edit a custom trade-in profile for products with online order history
Within the eligibility settings you have the option to set:
- 1.Whether the products in the trade-in profile are eligible for trade-in or not. Products associated with a trade-in profile set as ineligible will be visible in the trade-in portal, but will not be selectable for trade-in.
- 2.The minimum and maximum age of at which you're happy for items to be traded-in at. Here you have the option to set the value in days, weeks, or months.
Please note, if you do not set a Minimum age in the trade-in profile, it will default to the Global Minimum Trade-in age which you will have set during the installation and set-up process.
The trade-in pricing rules are how you set the amount of credit you offer your customers for trading-in their items. There are three rules which you can choose from:
The Fixed Value rule will offer a fixed price regardless of what the original purchase price was. e.g. £5 per item
The Fixed Percentage rule will offer that % off the original purchase price (OPP) of the item. e.g. if the OPP of a t-shirt was £20 and you set the Fixed Percentage rule to 20%, the customer would be offered £4 credit.
The Dynamic Value rule allows you the most flexibility over the pricing, taking into account the age and the OPP of the item.
To set up a dynamic pricing rule, you need to specify a Maximum (Max) and Minimum (Min) % of the OOP that you want to offer and the timeframe over which you wish the Max % to depreciate to the Min %. Once you have entered those details, hit the
Calculate button and a table will be generated that lets you visualise your Dynamic Value rule.
Setting up the dynamic pricing rule
Our pricing engine uses a simple depreciation function to calculate how quickly the % value offered falls from its Max to Min. If you want to alter how quickly the % value offered depreciates (or even appreciates!) then you can manually enter values into the fields that appear underneath the graph. You can enter as many of as few as you like and our pricing engine will fill in the rest of the values. Smart right!
Important points to note when setting up a dynamic trade-in profile:
- For the Dynamic Value rule to begin once the products in the profile are eligible for trade-in (i.e. they reach their Minimum age), the Start age must match the Minimum age set in the eligibility settings. Otherwise, the Dynamic Value rule could begin before or after the products in the trade-in profile become eligible. This is fine if you want the value of the product to start depreciating from the minute the product is first purchased.
- You must hit the Calculate button to generate the table before you can save the trade-in profile.
- If you adjust the Min or Max age in the eligibility settings of the trade-in profile, it will reset the Dynamic Value rule, so you'll need to set it up again.
Common questions about the Dynamic Value
- Can I set the time intervals used by the Dynamic Value table (i.e. intervals of 1 months rather than 2 months)?Currently, you cannot state the time intervals that the Dynamic Value rule generates between the Start age and End age. The interval is determined to be the minimum such that there is up to 13 intervals:
- For max ages <= 3 months, that means 13 intervals of 1 week
- For max ages of 3-12 months that means 13 intervals of 1 month
- For 12-24 months it is 13 intervals of 2 months; and so on.
- Do you have a tool that I can use to help me price my items?Not just yet, but we are working on a tool to let merchants play around with the Dynamic Value pricing rule outside of the app