Hi!

Ready for Kwik to reward and incentivize your customers? The first step is getting your products listed on our platform! Let’s start by explaining product pricing and how it impacts Kwik’s Commission Engine.

 

As the vendor, you control the Retail and Wholesale prices for your products.

Retail: the price your customers will pay to purchase your product.

Wholesale: the amount you, as the vendor, will be remitted when your product is sold. (Always make sure you are comfortable with this amount!)




So what happens with the difference between these prices?


We refer to the difference as the Delta. The Delta = Retail - Wholesale.

 

When a purchase is made through Kwik, the delta is the amount you, as the vendor, 

allow Kwik to utilize and pay user commissions.

 

 

Think of the Delta as your marketing spend for that product.

 

 

The Delta is broken down into the following:

  • 76% User Commissions: The majority of the Delta goes to paying and rewarding your customers for referring your products and influencing sales.
  • 20% Kwik Maintenance: Kwik uses this percentage to keep the platform running. This includes website and referral link repairs, upgrading features, and providing customer support to both users and vendors.
  • 4% Administrative and processing fees.



Commission Calculation Engine

  • User commissions are paid out in waves, based on the number of times a product referral results in an actual sale. Commissions are also paid in the form of cashback, promotions, discounts or any other offer you use to reward your loyal customers.



Are shipping and taxes included in the retail price?

This is your store, which means you determine the policy on shipping and taxes.

  • When adding products to our platform, you can choose to include taxes within the overall product price, or as an additional charge. (USA is charged 6% on top of retail price automatically)

  • You can do the same thing when determining shipping rates for your customers. You can offer free shipping by including shipping costs as part of the retail price, or as an additional charge.



What is the Compare At Price?

This is an optional feature and doesn’t impact the pricing structure in any way. Vendors can include a “compare at” price when listing their product, in order to highlight the money saved by shopping on Kwik.



For example, If the “compare at” price is $60 and the retail price on Kwik is $55, your customers would see the product price of $55 with a $60 (grayed out) next to it.

 

 

Now that you know how to utilize all our pricing features, it’s up to you to explore your options and find the best pricing method to incentivize buyers. They’ll love getting a great deal, and you’ll love seeing your products get shared with a customer’s friends, family, and followers.  Have Fun!