Managing Inventory Prices Based on the American Exchange Rate

Do you buy your inventory from American suppliers and sell it to Canadian customers? As I’m sure you know, you will lose money on every deal unless your posted pricing is updated frequently. This is important if you’re retailing high-priced items like boats, RVs, ATVs, and motorcycles. When the value of the US dollar goes down, the Canadian prices you are quoting need to be lowered to optimize your attractiveness to people who are price-shopping similar models. When the dollar price goes up, you stand to lose profit when your customer pays for the unit in Canadian dollars before you can adjust the price to manage the change.

While it’s a great idea to advertise bi-weekly payments, manually calculating payments and updating your website and your Auto Trader ads is hard work, especially if you have a large inventory.

Is hiding your prices is the answer?

While this might only bother some of your customers, some prefer the certainty of working with a dealership that is open about their prices. So how can you keep your prices and bi-weekly payments current without working around the clock?

The answer is ProfitGuard. ProfitGuard can save you thousands of dollars in lost profits and potentially lost deals. You can choose how often to update the prices across your inventory, and ProfitGuard constantly monitors the price of the American dollar. ProfitGuard manages price fluctuations as often as you like, on autopilot, even once an hour. One of the advantages of ProfitGuard is that slight changes in unit price are less shocking to someone who is comparing prices over time.

You can set extra margin points or markup to create a little wiggle room in the calculation. ProfitGuard can even update feature slides that contain payment details in attractive graphical bursts. ProfitGuard can be integrated into any website. ProfitGuard also comes with dynamic lead capture features, which capture the exact price quoted on the website when the prospect fills out a contact request form.

You can easily add, edit, remove, or hide stock from your online inventory. Your entire inventory can be automatically uploaded to Auto Trader each night at midnight. ProfitGuard comes with a CMS that shares incoming leads fairly between your staff members. ProfitGuard lets you maintain your pricing and stay competitive with other dealerships already using ProfitGuard. Call us today and find out if ProfitGuard is right for your dealership.

We understand Profitguard systems are best integrated during your off-season if you have one.  Your dedicated ProfitGuard integration specialist will work with you to keep your pricing and website data synchronized while you are fully migrating to the ProfitGuard platform.