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Price tips for new products in the Smart Pricing app

The Smart Pricing app can generate price tips for products that you recently added to your store. These tips are based on how similar products are priced across Shopify, so you can set a starting price that reflects the current market value. For each new product, the model finds similar products and suggests a price that's based on the most common price of those products. New product price tips work best for stores that add products regularly and want a starting price for items that don't have a sales history yet.

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Requirements for new product price tips in the Smart Pricing app

To generate new product price tips in the Smart Pricing app, you must meet the following requirements:

  • You must have added new active products to your store in the past 30 days.
  • Most of your new products must use the same price across all of their variants.
  • You must be able to change your prices without contractual restrictions.

Implement new product price tips

You can implement available new product price tips at any time in the Smart Pricing app. You can choose to implement new product price tips on a per-product basis, or you can accept and implement the price tips in bulk.

Steps:

  1. From your Shopify admin, go to Apps > Shopify Smart Pricing.

  2. In the New product section, click Generate.

  3. Optional: In the To review product list, you can do any of the following actions:

    • Hover your cursor over the Price tip column to learn more about why the tip is suggested.
    • To change a suggested price, click the New price value, and then enter the price that you want to use.

  4. Complete the review for each product's price tip:

    • To accept a price tip for a single item, click Update for that item.
    • To accept price tips in bulk, select all of the products that you want to change, and then click Update. To confirm the bulk price changes in the dialog, click Update again.

  5. Optional: Resolve any price tips that you don't want to implement by skipping them:

    • To skip a price tip for a single item, click Skip for that item.
    • To skip price tips in bulk, select all of the products that you want to skip, and then click Skip.
    • To review the items that you've previously skipped, click the Skipped tab, and then click Review to move them back into the To review tab.

Review the publish history for new product price tips

You can review the new product price tips that you've implemented. Both the Recently added tab and the Publish history record the price tips that you've implemented, and include the following details:

  • The product name.
  • The old price and the new price.
  • The date and time the price tip was published.
  • The type of price tip implemented (Markdown, Markup, or New product).

Steps:

  1. From your Shopify admin, go to Apps > Shopify Smart Pricing.

  2. Click Publish history.

Troubleshooting new product price tips

New product price tips aren't generating

If you're a good fit for new product price tips but you can't generate any tips, then confirm the following details:

  • Variant pricing. New product price tips are generated at the product level, so tips don't generate for products that have different prices across their variants.
  • Product too new. Allow 1 to 3 days for a tip to generate for a newly added product.
  • Not enough similar products. There aren't enough similar products on Shopify to generate a tip.
  • Your prices are already well-matched to your demand. If the model doesn't find any opportunities, then tips don't generate. Check back after you add new products.

If none of these options explain the lack of price tips being generated, then submit a report through the in-app feedback link.