LSP or the Lowest Selling Price is, as the name suggests, the lowest you will accept for the sale of a product.
With heavy competition across marketplaces, sellers sometimes offer the lowest price to attract more customers. Competitive pricing also leads to pricing the same product differently in different marketplaces, and it is very easy to lose track of what your LSP can be in order to give you at least the minimal profit.
Browntape's LISTING WATCH tab lets you keep an eye on all the listings and their different pricing across marketplaces. You can also Set the LSP for each product here. If any of your listings are priced lower than your LSP, Browntape warns you so you can be prepared for the outcome, or correct the same if it was by mistake.
To set the LSP,
- Login to your Browntape account
- Click on Inventory > Listing watch
- You will now see your listings with a list of their prices across different marketplaces. To set an LSP, click on the edit icon in the Least Selling Price column
Type in the LSP you'd like to set for the product.
Once your LSP is set, if your prices on marketplaces go below the LSP, the prices are displayed in red, so you can take action immediately.
To see all the products listed with prices less than LSP, click on the Less than LSP button in Filters.
To set LSPs for multiple products at one go, follow the steps to https://browntape.freshdesk.com/support/solutions/articles/1000091741