Reference Price

Configure extensions by going to Apps > Your extensions

This article explains the reference price feature in Acendy, which helps you comply with regulations regarding price reduction marketing by automatically displaying the lowest price of a product in the last 30 days.

What is Reference Price?

As of October 1, 2023, new regulations regarding the marketing of price reductions were introduced.

The regulation states:

Where the price of goods is marketed as reduced, the trader shall provide information about the item's previous price.

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

What This Means for You as an Acendy Customer

For you as a customer in Acendy, this means that you, like all other stores, must show the lowest price for the last 30 days on your promotional items.

How to Activate Price Display

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

You can easily activate the display by navigating to Apps > Settings. Here you will find the "Reference Price" module.

The module allows you to activate two different views:

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

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

Display as Previous Price (Select "overwrite_price" in the module for this view)

This view overwrites the previous price on your product page.

What Counts as Previous Price?

The previous price displayed 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 reference price"

This step checks whether a product is exempt from updating the reference price upon price adjustment. Is only relevant in special cases and will not be relevant for most. Contact customer service if you have special needs that require exclusion from reference price updates.

How is This Displayed in the Control Panel?

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

Price 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 when changing the price. Read more further down.

Reference Price

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

This is the 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 accidentally adjust the price much higher or lower than intended. Learn how to do this.

Step by Step

Change the price of the product so that it is correct.
Click on "Price History" inside the product to be changed.
Click on the price to be changed.
Read the information in the popup
Correct the price of the product
NB! Remember to correct the price of the product before correcting in the history.