What is reference price point?

On 1 October 2023, new provisions were introduced that regulate the marketing of price reductions. 

The regulations state the following:

Where the price of goods is marketed as reduced, the trader must provide information about the product's prior price.

The pre-sale price is the lowest price that the trader has applied for a minimum of 30 days before the marketing started. The lowest price means the price that has been applied for the item to the general public, or other larger groups of consumers belonging to various loyalty programs or customer clubs. Where the price reduction increases gradually, the pre-price is the lowest price before the first price reduction

(Source: https://lovdata.no/dokument/LTI/forskrift/2023-06-20-979)

What it means for you as a Acendy customer

For you as a customer of Mystore, this means that you, like all other stores, must show the lowest price in the last 30 days on your offer items. To make it as easy as possible, we have developed a module that automatically displays this based on logging of price changes made to your products. 

This price is automatically displayed on products that are on sale, and it will not be necessary to show the history of items at regular price.

on your product page. See example.

How to enable price display

Logging of price changes is already done, and the only thing you need to do is activate the display of the lowest price on bargain items in the online store.

You can easily activate the view by navigating to Apps > Settings, where you will find the "Reference price" module.

The module allows you to activate two different views:

1. Separate view (Select "separate" in the module for this view)

   Here, the lowest price in the last 30 days is shown as a separate line on the product page.

   
   See example:

   

2. Show as pre-price(Select "overwrite_price" in the module for this view)

   This view overwrites the pre-price on your product page.

   
   See example:

   

What is considered a pre-sale price?

The before price shown is the lowest price that has been on the product in the last 30 days, but there are some rules that are good to know about. See the flowchart below for an introduction to how the price history is updated in the control panel.

Explanation of "Is the product excluded from the reference price"

This step checks whether a product is exempt from updating the reference price when adjusting the price. Is only relevant in special cases and will not be relevant for most people. Please contact kundeservice if you have special needs that require exclusion from updating the reference price.

How does this appear in Control Panel?

Each product page now has access to some new menu items and fields.

Pricing history

This is a new menu item and shows you an overview of all the price changes that are relevant to the reference price. It is possible to make changes to the history if you accidentally make a mistake in a price change. Read more further down.

Reference price

In the menu item for discount, you now have access to a new field for "Reference price". This price is the lowest recorded on the product in the last 30 days, and the value is taken from the price history.

It is this price that is displayed on the product page in the online store.

What if a mistake has been made?

Mistakes can happen and it is possible to override the price history if you have accidentally adjusted the price much higher or lower than intended. Learn how to do this.

Step by step

1. Change the price of the product so that it is correct.

   

   
   

2. Click on "Price history" inside the product to be changed.

   

   
   

3. Tap the price you want to change.

4. Read the information in the pop-up

   

   
   

5. Correct the price of the product
   NB! Remember to correct the price of the product before correcting the history.

Steps on video 👇