Price Change Regulation
The platform introduced regulation for variant pricing of products and SKUs. Not only does the regulation prevent false pricing by merchants wishing to increase profits, but it also eliminates the need to manually cancel prices that were set too low due to carelessness.
When setting new prices, merchants cannot price 10% lower than the highest price in the last seven (7) days of the product; otherwise, the system will automatically reject the change and leave the product’s original price.
This regulation applies to product price change only. Merchants can set prices freely for newly uploaded products. If the prices difference across variants differ unreasonably, Joom will consider merchant involves in Price Fraud and the product will be withdrawn from listing.
Minimum Price Calculation
1. In case of the product has no variants, the minimum price of the product is:
- Product price in last 7 days has no change => Product price x 0.1;
- Product price in last 7 days has been increased => Increased product price x 0.1;
- Product price in last 7 days has been reduced => Price before the reduction x 0.1.
2. In case of the product has variants, the minimum price of the product is:
- The maximum of the daily minimum price of all variants in last 7 days x 0.1.
Examples of Price Calculations
The price has no change in last 7 days (product has no variants)
| Day 1 | Day 2 | Day 3 | Day 4 | Day 5 | Day 6 |
Day 7 |
| $10 | $10 | $10 | $10 | $10 | $10 |
$10 |
If the merchant wants to change the price of the product, it must not be lower than $1 ($10 x 0.1).
The price has been increased in last 7 days (product has no variants)
| Day 1 | Day 2 | Day 3 | Day 4 | Day 5 | Day 6 |
Day 7 |
| $10 | $10 | $10 | $12 | $12 | $12 |
$12 |
$12 > $10, so the highest price in last 7 days is $12. The lowest new price will be $1.2 ($12 x 0.1).
The price has been decreased in last 7 days (product has no variants)
|
Day 1 |
Day 2 | Day 3 | Day 4 | Day 5 | Day 6 | Day 7 |
|
$10 |
$10 | $10 | $8 | $8 | $8 | $8 |
$10 > $8, so the highest price in last 7 days is $10. The lowest new price will be $1 ($10 x 0.1).
The prices have been changed in last 7 days (product has variants)
| Day 1 | Day 2 | Day 3 | Day 4 | Day 5 |
Day 6 |
Day 7 | |
| Variant 1 | $5 | $5 | $4 | $4 | $6 |
$6 |
$5 |
| Variant 2 | $4 | $4.5 | $5 | $5 | $3.5 |
$5 |
$4 |
| Variant 3 | $6 | $6 | $6 | $4.5 | $5 |
$6 |
$5 |
The lowest daily prices of product variants in last 7 days are $4, $4.5, $4, $4, $3.5, $5, and $4 respectively. The maximum value in this set of data is $5. So, the minimum new price for all variants is $0.5 ($5 x 0.1).
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