Strategic Pricing with Tier Price Management

Empower administrators to implement dynamic pricing strategies with the Tier Price Management feature, designed to provide discounts on bulk purchases. Imagine a scenario where an eCommerce store sells a popular item, let's say a smartphone. The admin utilizes the Tier Price Management feature to create pricing slabs based on quantity, offering customers enticing discounts for buying in larger quantities.

Key Features:

• Admins create a tiered pricing structure for the smartphone, defining slabs based on quantity breakpoints.
• Example:
  • Buy 5 smartphones at $200 each.
  • Buy 10 smartphones at $190 each.
  • Buy 20 smartphones at $180 each.
• Specify discounted per-item costs for each pricing slab to incentivize bulk purchases.
• Example:
  • For 6 smartphones, the cost per item automatically adjusts to $190, providing customers with a $10 discount per unit.
• Fine-tune quantity-based pricing by setting distinct costs for varying product quantities.
• Example:
  • Adjust the pricing slabs to align with business objectives, offering a more significant discount for higher quantities.
• Streamline bulk purchase processes by providing customers with transparent tiered pricing options.
• Example:
  • Customers who buy 10 smartphones receive a per-item cost of $180, encouraging them to consider buying in larger quantities and saving money.

The Tier Price Management feature enables administrators to implement a strategic approach to pricing, fostering customer loyalty and optimizing sales. With customizable slabs and tiered discounts, this feature ensures that your eCommerce platform is well-equipped to handle varying customer preferences and encourage bulk purchases.