Nowadays, customers are conscientious when it comes to how they spend their money. For most goods and services there are plenty of options to choose from, and that makes competitive and readily available price lists more important than ever.
A price list is a complete and itemized list that clearly shows the individual prices of all the goods and services your business offers. It’s a helpful tool for your clients and customers, who’ll be able to easily compare prices and choose the goods and services most suitable for their budget and needs. And it’s just as useful to you as a business owner: it helps you keep track of your inventory, price your goods competitively, and sell remotely.
One way to make a price list is through a spreadsheet software program like Excel. Another option is to digitize your price list using a B2B and wholesale tool such as Turis. You can read more about what information your price list should include in this post.
If you’re looking for a professional price list template, we’ll be sharing one later in this entry.
Features of a price list
While price lists are useful no matter what industry you work in, they are particularly widespread in wholesale. Depending on what kind of business you own, you might need different price list templates to the different goods and services you offer. A standard price list, however, should always include the following features:
- Company name
- Your contact details including company address,
phone, fax (if applicable), website, and email address
Price list details:
- The name “Price List”
- SKU / Product ID
- Item name
- Item price
Functions of a price list
There are many different functions of a price list that make it an essential part of running a successful business. Among other things, a price list facilitates:
- Inventory overview. When you make a price list, you’ll use your inventory list as a reference. This allows you to maintain an overview of your inventory and ensure that your stock and prices are updated. Your price list will also function as an inventory overview for clients and customers, as they’ll be able to see what goods and services you offer.
- Price comparison. It allows your clients and customers to compare prices before committing to their purchase. They’ll compare your prices to the prices of your competitors, and this gives you an opportunity to use your price list to advertise the products you’re selling. Make sure that your price list features prices that are both competitive and reflective of the quality of the goods and services you offer. This will help persuade customers to choose your business over your competitors. If you’re new to it, you can read more about how to price your products here.
- Remote sales. Online shopping is growing increasingly popular, and being able to sell your goods and services remotely is more important than ever. Having a list (whether digital or not) of products and prices readily available gives interested customers the convenience of browsing and purchasing your products when it suits them. And if it’s convenient, they’re almost sure to return.
- Keeping clients informed of updated prices. When you make your price list, you should save the template on your computer, so you have it on hand. Markets change and prices fluctuate, and having the template around allows you to make modifications and updates to your prices down the line. If you have digitized your wholesale price lists using a B2B platform, updating your prices is a breeze. This also allows you to present your clients and customers with accurate, up-to-date information, and they’ll quickly learn that your business practices are transparent and reliable.
How to make a price list (includes price list template)
When you make your price list, you can use the features listed above to organize your list. Follow these steps to make sure that your price list contains everything your clients and customers need to know about the prices of your products:
- Set up a price list header containing your business information as well as the name “Price List.” Including your business information on your list ensures that anyone viewing your prices always has your contact details on hand. This saves time if they’re interested in learning more about your products or purchasing your goods and services.
- Make columns for item names, descriptions, and prices. As an optional addition, you can also make a column for SKUs/item IDs if you want to ensure that your price list cross-references your inventory list.
- Include as much detail in each product or service description as possible. This will make it easy for your customers to make an informed purchase, and this helps you maintain high client satisfaction rates.
- Remember to list your prices in the currency of the market you’re targeting. If you’re selling internationally and are targeting e.g. the US and Germany, you may want to make two price lists: one priced in USD and one in EUR.
Digitize your price list
If you want to level up your price list, you should seriously consider digitizing it. Using a B2B and wholesale eCommerce platform as a digital price list enhances the functions of a traditional wholesale price list. It’s easier for you to keep updated and avoid price errors, and it’s much easier for your wholesale and B2B customers to purchase your products.
And as of right now, you can create your B2B and wholesale eCommerce account completely free of charge with Turis.
Download price list template
As promised, here’s a complete price list template containing everything listed above.