Price simulator allows you to forecast and simulate what will happen to your volume, revenue and profit when you change prices, change costs or modify covariates.
​
In order for the system to be able to create accurate long-term forecast, we need at least 1 full year of historical data for the product(s) in question.

How to start price simulator?

Clicking the price simulator icon opens a modal, from which you can build your simulation. If you don't see this icon, the module may not be enabled on your plan or account.

You can also open the simulator under the Simulations view by clicking "Add new", which will open fresh simulator.

Price simulator enables you to simulate and forecast what happens when you perform changes to your products, for a defined period of time in the future, as price, cost or forecasting periods fluctuate.
​
First, you need to select products in the simulation. If you opened the simulator from the product catalog view, you can start simulation from currently selected products by selecting "Start a new simulation". This will automatically choose products in the simulation.
​

When opening Price simulator from the catalog, you can continue an existing simulation or start a new one with the products you selected.

You can add products to the simulation under the Variant breakdown view. At the top of the table, click the Add products button, which opens product addition modal.

You then filter and select the desired products, and then save. If you close the addition modal without saving, the products are not added.

Note that simulations require at least one product to be selected, otherwise simulations cannot be performed.

In the variant view, select the products you want to add and then click Remove.

Sometimes you may want to manually modify prices in the simulation or lock them. You can do this by clicking selecting the product in the variant view, and clicking the lock. It locks the price so that it won't change if you change controls. It also allow you to manually edit the price inline in the table. If you do this, it will remember this until you unlock the product in the simulation, which then makes it so that controls are respected again.

At the top of the simulation in the selector, you can add new scenarios in the simulation. The maximum number of scenarios is 5. You can remove created scenarios from the trash can icon in the selector, and rename the scenario from the edit icon in the selector.

Scenarios have individual controls that allow you to compare how different changes affect the products. You can open controls by clicking Simulation controls.

The first control is solver. If you don't use a solver, it allows you to adjust price change manually. Other solvers are profit, revenue, volume and market solvers (requiring market data). Choosing any of these other solvers disables the price change input field.

Costs and price changes are represented as percentages. For example, if you set -20 in the price change in percent field, you are asking the system to evaluate what happens if you decrease the price of all products included in the simulation by -20%. The same principle applies to the cost change in percent field.
​

Stock modifier allows you to see what happens if you modify stock by a percentage in this scenario. Note that if stock is currently zero, increasing it with any percentage will always deliver zero.

You can also define the average order-level extra discounts and discount usage here.

Furthermore, you can choose the price range in which the changes are performed. Price Min and Max fields allows you to control that prices are simulated only within these boundaries. This is reflected in the profit, revenue and volume graphs.

Under controls in the middle, you can define simulation start and end date. This is shared across scenarios. Same with "infinite" stock option, which makes assumes you are able to continue to sell the product if stock is <= 0.

Under Forecasted results tab, you can see scenario comparisons across your scenario parameters. Baseline is always represented, which is the scenario under which you would not change anything at all.

Once you have chosen which scenario you would like to proceed, you can publish it. At the bottom of the simulator, you have Publish button. Clicking it opens the publish selections. Here you can select when the price changes happen, and if you want to create them as one-off changes or as a campaign.

Once you publish a simulation, it will appear under the Published simulations view. If you published a simulation as a campaign, it will also appear under Campaign calendar. Published prices are scheduled and shown immediately in the Pricing log under Scheduled price change.

You can always save your simulation as a draft and see them under the Simulations view.

The saving modal appears always if you have continued to the variant view in the simulation and clicked exit. If you don't want to save the simulation as a draft, you can close this modal without saving.

Depending on the price/profit elasticity and the costs of the product(s), increasing volumes might not mean increased profits. Look into the profit vs. price and volume vs. price graphs, which you can see either in the variant breakdown or under the current situation tab.