Managed Pricing for Artist Shops and the Threadless Marketplace
Now, you can choose to let Threadless manage pricing and promotions for you- in your Artist Shop or the Threadless Marketplace.
Threadless Managed Artist Shop Pricing
Your Artist Shop has the option to let Threadless manage your shop pricing and promotions. When the Let Threadless manage my Artist Shop's pricing and promotions is toggled on, Threadless will manage your Artist shop pricing and run promotions with strategically varying incentives to help your sales grow. No need to update prices or run sales yourself in your Artist Shop. Artist Shop promotions will have a distinct promotional calendar, separate from the Marketplace, with different offers so you can strategically share promotions at various times. Each upcoming promotion will be communicated in your Artist Dashboard so you’ll know when and how to promote the different sales and offers available in your Artist Shop. By default, shops are automatically opted into managed pricing.
Threadless Marketplace Pricing
Your Artist Shop also has the option to allow your products to be considered for the Threadless Marketplace. When the Allow my shop's products to be available in the Threadless Marketplace setting is toggled on, this means your shop may be considered for the Marketplace with pricing managed by Threadless. Promotions in the Marketplace will reflect the prices and sale offers available on Threadless.com. Your shop’s products may also be discoverable in the Threadless site search, and possibly even featured in Threadless sale and promotion emails and social media communications or the Threadless homepage, giving them a greater chance to be seen and sold and creating incremental sales for your Artist Shop. Products available in the Threadless Marketplace are curated and prioritized based on Threadless customers' browsing and purchasing preferences. By default, shops are automatically opted into the Marketplace.
You will also have your own Marketplace homepage that exists on Threadless.com and matches your Artist Shop homepage. You can access your Marketplace homepage at https://www.threadless.com/discover/s/SHOPNAME. Simply enter your Artist Shop name where it says [SHOPNAME] for your Threadless marketplace shop page. From your Marketplace homepage page, customers can browse your designs, use the Buy Now button to purchase your products, Follow your Artist Shop, and easily share your designs to their social networks. You can also use your Threadless marketplace shop page to promote your designs during Threadless sales and promotions.
Updating Your Settings
To admin the Managed Pricing settings for your Artist Shop or the Marketplace, simply go to the Settings page of your Artist Dashboard. Here you'll see the two settings under Management Settings. Simply flip the toggle on either setting and hit Save. Changes may take up to four hours to go into effect.
Artist Earnings for Managed Pricing and Marketplace
Since Threadless sale and promotional prices may be lower than the base fee, there is a different earnings structure with an earnings minimum. For any item sold under base fee in the Threadless catalog or Discover marketplace with Managed Pricing, there is a minimum earnings of $1.00 per unit on items sold at a retail price greater than $10, $.50 per unit for items sold between $5.01 - $10, and $.25 per unit for items sold at $5 or below. If the sale price is above the base fee, your earnings are still the difference between the sale price and the base fee.
Earnings from Threadless marketplace purchases will be labeled as 'Discover' in the Earnings section of your Artist Dashboard and paid out along with the rest of your Artist Shop Earnings each month.
When the Managed Pricing setting is on for an Artist Shop, the Artist Shops Base Fee will still be applied to any Artist Shop purchase. However, since the sale and promotional prices may be lower than the base fee, a minimum earnings will be applied. For any item sold under base fee in during an Artist Shop promotion with Managed Pricing, there is a minimum earnings of $1.00 per unit on items sold at a retail price greater than $10, $.50 per unit for items sold between $5.01 - $10, and $.25 per unit for items sold at $5 or below. If the sale price is above the base fee, your earnings are still the difference between the sale price and the base fee.
Just like orders in your Artist Shop, when a purchase is made through the Threadless marketplace, you'll find the Customer Information in the Artist Shop Orders section under Sales & Marketing in your Artist Dashboard. Because traffic to the marketplace comes from Threadless, the audience in the marketplace is completely separate from your Artist Shops audience. A vast majority of customers who have bought from Threadless have never purchased from an Artist Shop and vice versa. So when a Threadless customer discovers and purchases your work through the Threadless marketplace, this creates is a great opportunity to introduce customers to your brand and encourage repeat customers. By adding a Threadless marketplace customer to your Artist Shop newsletter or marketing, you’ll be able to create a centralized contact list to really grow your Artist Shop and brand.