Configuration: Dynamic Pricing

The Dynamic Pricing component enables resorts to set up flexible pricing based on specific dates, number of days booked from arrival, and pricing levels that increase as each level’s quantity is sold out. This allows resorts the flexibility to set demand-based pricing, fluctuating based on high volume days, off-peak days, holidays, and weekends to increase sales and profits.

Setup Checklist

This section is a comprehensive and high level summary of all tasks and prerequisites required for this feature to function properly. This section is purposed for use after an administrator is familiar with configuring this feature as an “audit” checklist. For detailed set-up instructions, jump down to “Prerequisite Tasks” and “Detailed Setup Guide” and then follow up with this checklist to ensure all steps are completed.

Prerequisite Tasks

This section describes all requirements that must be completed before you can begin setting up this feature. Once these tasks are complete continue to the next section.

POS Tasks

1. Follow the standard product setup requirements from Configuration: Product Shell.

   1. If you are selling these products onsite, you’ll want to set up pricing for these products so that you can leverage whatever demand-based pricing your POS makes available for on-site sales (i.e. Pricing Seasons in RTP|One)

Commerce Tasks

1. Configure Core Product

• Install Dynamic Pricing v2 plugin - work with your Aspenware Representative to complete this task. You must be on version 2.20 in order to leverage new dynamic pricing.
  

• Configure Core Product

  1. Before dynamically pricing a product, ensure the following is true:

     1. The product is fully set up and prepared for dynamic pricing

     2. The attribute “Start Date” has been added with “[Date] [Dynamic]” added to the Text Prompt field and the control type is “Date picker”.

  2. If utilizing the large pricing calendar view then all required attributes have the Text Prompt [Pricing Calendar]
     

     

  3. All attributes and values are configured on the product, and the product attribute combination table is built out fully and perfectly. Ensure the attribute combination table has all necessary attribute combinations and there are no unnecessary rows or duplicates before proceeding.

     1. If the attribute is required to book the core product, such as Age and Number of Days, it is a Required attribute.

     2. If the attribute is an add-on attribute and does not impact the price or SKU (RTP|One product header) of the core product, it should not be required and should not be present in the attribute combination table. (e.g. An add-on rental to a ticket or lesson should not be required or included in the product attribute combination table).

     3. The SKUs have been entered in the product attribute combination table.

     4. Only combinations that require dynamic pricing display in the combination table. Add-ons should not be included in the combinations. 

2. Add Product Classification(s)

1. Go to Aspenware Commerce > Product Classifications and click Add assignment.

2. Select the product you created above.

3. It is required to assign the ‘Is Dynamically Priced’ product classification.

4. If you’d like to show the large pricing calendar view, scroll to ‘Show pricing calendar view’ and click Assign checkbox.

5. Optionally if the product has inventory controls and is a multi-day product, you’ll want to allow consecutive multi-day selections. If this is not necessary for your product, skip to the next step.

6. If you’d like to require consecutive multi-day selection, scroll to ‘Is Consecutive Multi-Day Product’ and click Assign checkbox.

7. Click Add.

3. Optional Product Setup

• Optional Product Setup

  1. The following steps are optional but are commonly used for dynamically priced products.

     1. Set up inventory pools for the product. See Inventory Configuration for instructions.

     2. Add reloadable media for the product. See Pass Media Reload Configuration for instructions.

     3. Set up [Cutoff Days] and/or [Cutoff Time] in specification attributes if you'd like to limit the availability of products within a certain number of days/hours from purchase.

4. Verify Plugin Dynamic Pricing v2 plugin is installed, enabled, and configured

• Go to Configuration > Local Plugins, search Group ‘Aspenware,’ and verify Dynamic Pricing v2 is installed and enabled.

• To enable, Edit the plugin, click on “Is enabled”

• Save

Settings for this Feature

This feature may require updates to the following settings, language strings and/or HTML Widgets. Learn more about how to update and create Settings, Language Strings, and HTML widgets follow the links to the respective section.

Settings

See Store-wide Settings (All settings) Library for the latest up-to-date settings, examples, and configuration.

Setting	Use	Image example (click to enlarge)
CatalogSettings.DynamicPricingCalendar.PricingCountMessageThreshold	For dynamically priced products utilizing the large calendar view, if the number of products left at the current pricing tier is less than this setting amount, then a message will display notifying guests of how many products are left at the current tier’s price. (note: this setting’s messaging will be replaced with low inventory messaging if the minimum quantity setting “shoppingcartsettings.minimumquantity.quantitymessage” is triggered)
catalogsettings.dynamicpricingcalendar.inventorymessagethreshold	For products utilizing the large calendar view and that are set up with inventory configuration, if the number of available spots is less than this setting amount, then a message will display notifying guests of low availability.
seasonsettings.startdate	Defines the first day that date-based products are available for reservation. Note: If you operate multiple stores through Aspenware Commerce then this setting is required to be set for “All stores” and each individual store may have a unique setting if desired.	n/a
seasonsettings.enddate	Defines the last day that date-based products are available for reservation. Note: If you operate multiple stores through Aspenware Commerce then this setting is required to be set for “All stores” and each individual store may have a unique setting if desired.	n/a

Language Strings

If you are adding the Dynamic Pricing Savings Display to the PDP, you have the ability to show and hide the amount remaining beneath the savings display (see example below) using the following language string. By default, this language string is configured and will display.

• Go to Configuration > Languages > Edit

• Scroll to the bottom and add the language string Resource Name shown in the table below

• Add the text you would like displayed beneath the price on the PDP in the Value field making sure to keep the {CountRemaining} token which will display the inventory # remaining (in the above example {CountRemaining} = 614

• Select Add new record.

Resource Name	Value	Location	Example (click to enlarge)
unity.dynamicpricing.inventoryremaining	Default: Only {CountRemaining} left on this date Note: To eliminate any messaging about remaining inventory, simply leave this language string blank.	Shopping Cart

Detailed Setup Guide

1. Open Product Editor and Expand Dynamic Pricing Section

2. Create Days To Arrival Windows

3. Configure Time Period Groups and Time Periods

4. (Optional) Define Levels

5. Assign Pricing

6. (Optional) Add Dynamic Pricing Savings Display to PDP

1. Open Product Editor and Expand Dynamic Pricing Section

To Dynamically Price a product, go to the Product Editor screen (Catalog > Products > Search for product), scroll down to the bottom of the Product Editor screen, and expand the Dynamic Pricing section.

2. Create Days to Arrival Windows

• Click +DAYS TO ARRIVAL and populate the Name and Days Start Fields. Days Start is the number of days from the arrival date when the pricing window will apply. For example, if setting up an ‘outside of 48 hours’ window, set this to 2 and it will apply two days out from the arrival date if there isn’t a more specific (closer to arrival date) level set that applies to the reservation date. 

• Save

3. Configure Time Period Groups and Time Periods

When first configuring a product for dynamic pricing, you’ll be presented with an option to assign an existing Time Period Group to a product or create a new one.

After the product has initially been set up, there are three options available when you click the TIME PERIODS OR GROUPS BUTTON

• Create a Time Period Group. If a TIme Period Group has already been created for which this product will utilize the same rules, skip this step, and simply assign an existing Time Period Group.

  1. Select + CREATE A TIME PERIOD GROUP, this will be used as a grouping for related Time Periods for example, 21-22 WINTER SEASON would be the Time Period group that will house the following Time Periods: 21-22 Early and Late Season Dates, 21-22 Peak Dates, and 21-22 Off-Peak Dates.

  2. Enter the group name (e.g. 21-22 Winter Season)

  3. Click SAVE TIME PERIOD GROUP
     

     

• Assign a Time Period Group (TPG) to the product

  1. Select + ASSIGN A TIME PERIOD GROUP

  2. Time Period Groups can be assigned, if they have already been created, but are not currently assigned to this product.

  3. Select Assign Time Period Groups,

  4. Locate and select the TPG select

  5. Click SAVE.
     

     

• Create a Time Period

  Time periods are the pattern of days that you wish to apply a specific pricing strategy. A time period can be defined by days of the week (Saturday, Sunday) or dates (Monday, September 6), or a combination of both.

  1. Enter a descriptive name (e.g. 21-22 Weekends/Holidays)

  2. Order is assigned automatically.

  3. Select an existing TIME PERIOD GROUP (you cannot SAVE without assigning a Time Period Group., so be sure you have defined the group before defining the period or assigned an existing TPG to the product.)

  4. Enter a start date and end date for the period (this can correspond with your season, or go far out into the future, depending on what you are building)

  5. Click on the DAY OF THE WEEK to apply to the schedule or CLICK ON SPECIFIC DATE IN CALENDAR to add that date.

  6. Use the calendar widget to deselect highlighted days that follow the rules defined above to remove them from the season, or to select days that do not follow the rules defined above to add them to the season. Ultimately the days that get added to the Time Period will be the dates that are highlighted on the calendar. In the example below, because Sept 6 is selected, even though it does not follow the pattern of Sat/Sun dates between 8/17 - 10/31, it will be included in the Time Period’s set of dates.

  7. Select + CREATE TIME PERIOD

  8. Repeat for all Time Periods that will be added to the Time Period Group.
     

4. (Optional) Define Levels (formerly called Tiers)

Tiers offer the opportunity to sell various amounts of inventory at different prices, on the same day. Some resorts use tiers to attract attention with dramatically reduced prices on only a few tickets, known as loss-leaders, while others choose to sell all products at the same price, and choose to not define or use tiers.

• Click + LEVEL to add a level. Levels are automatically Named (Tier 1, Tier 2) in the order they are produced and are consumed starting with the lowest Tier (1) and ending with the highest.

• Populate the Description with a helpful descriptor, such as ‘15% discount’ or ‘lowest price’, which will be helpful when you are pricing products.

• Click SAVE.

5. Assign Pricing

• Click on the Pricing Calendar tab to begin applying pricing to the product.

• Use filters to select different variant combinations, in combination with time periods.

• In the example, 5 & Under, with the defined DAYS TO ARRIVAL of “10 Days Out” and “A Week Out” are selected.
  

  

• The Variants you have selected are displayed on the right, and you can select a single time period or multiple time periods to price. Once you have selected your time period, click SET PRICES
  

  

• The SET PRICES window appears, in a collapsed state, displaying the Variant combinations you are pricing.

• If multiple time periods were selected, you will be required to select a single Time Period to define pricing for. Once the time period is selected, the variants will be selectable.

• Expand the Base tab by clicking the down arrow, and assign a price. For the BASE only, do not define levels.

• SAVE.
  

  

• To Price the remaining variant combinations, simply expand each window, and SAVE after assigning prices and any desired Price Levels and Quantities. SAVE after setting each window, then collapse it and expand the next.

• Click CLOSE when you have finished pricing all the selected Variants.
  

  

• Priced Products display in the calendar, which will also indicate if Tiers have been defined.

• Use the REVIEW PRICING Tool to help organize pricing of complex products, as well as view sales.

• You can click through the calendar to view a specific date. The calendar indicates how many variant combinations have been priced on a specific date. If you click on the date, the window shows you which variant combinations have the pricing applied.
  

  

• If you expand the view, it shows you what the settings are, and also how many were sold at that price and/or Level.

6. (Optional) Add Dynamic Pricing Savings Display to the PDP

The Aspenware Commerce Dynamic Pricing Savings Display feature allows resorts to show price savings on both regularly priced products and dynamically priced products without using the pricing calendar. When the dynamic pricing plugin is installed, this feature is automatically enabled for any dynamically priced product and can be optionally enabled for products not using dynamic pricing. Resort admins can turn on or off the crossed-off original price that displays next to the online price on the product detail page.

For dynamically priced products, the base price will show as crossed off when the following conditions are met:

• The base price is set and is not set to 0.00

• The base price is greater than the display price

• The Hide Original Price checkbox in the dynamic pricing admin panel is not checked (this box may be checked to disable the feature for dynamically price products. To access the Dynamic Pricing Admin panel:

  • Go to Configuration > Local plugins

  • In Group, select ‘Aspenware Commerce’

  • Click Search

  • Scroll to the Dynamic Pricing widget

  • Click Configure

  • Check or uncheck the Hide Original Price checkbox

  • Click Save
    

    

To utilize the Savings Display feature on non-dynamically priced products, the product must have an old price assigned to it. The old price will show as crossed off when the same criteria as indicated for dynamically priced products are met (see above).