How to boost sales with woocommerce quantity based pricing?

What is woocommerce quantity based pricing?

Woocommerce quantity based pricing is one of the most popular deals mainly used to increase the average order size on online stores. Despite WooCommerce being one of the most popular shopping cart systems in the world, one of their limitations is their dynamic discount system.

One of the free and reliable plugins called Conditional Discounts for WooCommerce  provides additional and multiple dynamic pricing features such as the woocommerce based quantity pricing per category, per product, tags, custom property, field or meta.

In today’s article, I will teach you how to create a woocommerce-based quantity pricing per product and how to do the same for an entire category of product through our woocommerce bulk discount demo, all these in a few clicks.

Depending on the purchased quantity of a product, the woocommerce based quantity pricing feature allows the shop manager to dynamically define a discount, or a special price per product when the customer purchases multiple quantities of the same product at the same time. Conditional Discounts for WooCommerce provides 3 ways of creating a woocommerce based quantity pricing.

What is the advantage of using woocommerce quantity based pricing?

• Boost Sales Volume: Quantity pricing encourages customers to buy more of a product by offering them discounts or incentives as they purchase larger quantities. This can result in increased sales volume, which is particularly effective for products with broad appeal or that are frequently purchased.
• Higher Average Order Value: By motivating customers to buy larger quantities, you can raise your average order value. This can have a significant impact on your overall revenue and profitability.
• Competitive Advantage: In a competitive marketplace, offering quantity pricing can set your business apart. Customers are often attracted to deals and discounts, and this pricing strategy can make your products more appealing than those of competitors.
• Customer Loyalty: When customers perceive that they are getting a good deal by buying in bulk from your store, they may become more loyal to your brand. Repeat business is often more valuable than one-time purchases.
• Inventory Management: Quantity pricing can help you manage inventory more effectively. By encouraging customers to buy larger quantities, you can reduce the need to hold excess stock and improve inventory turnover.
• Simplified Pricing: WooCommerce quantity based pricing can be easily implemented and managed through various plugins and extensions. This simplifies the process of adjusting prices based on quantity, making it accessible for businesses of all sizes.
• Data-Driven Decision Making: Quantity pricing allows you to collect data on customer purchasing behavior. This data can be used to fine-tune your pricing strategy and better understand customer preferences.
• Versatility: You can apply quantity pricing to a wide range of products, from physical goods to digital downloads and services. This versatility makes it suitable for various types of businesses.
• Marketing and Promotion: You can use woocommerce quantity based pricing as part of your marketing and promotion efforts. Highlighting special pricing tiers for larger quantities can attract attention and drive sales during marketing campaigns.
• Profit Maximization: When done right, quantity based pricing can help you optimize your pricing strategy to maximize profits. You can find the right balance between offering attractive discounts and maintaining profitability.

WooCommerce-based quantity pricing is a valuable tool for e-commerce businesses looking to increase sales, enhance customer loyalty, and stay competitive in a dynamic market. When implemented effectively, it can lead to a win-win situation for both your business and your customers.

How to set-up a woocommerce quantity based pricing?

The following woocommerce bulk discount demo is a step by step tutorial that will show you how to set-up a woocommerce quantity based pricing. You should be able to create a quantity based pricing in percentage, fixed amount or setup a buy one get one (bogo) or buy X get Y type of deals.

Step 1: Create a product

The first thing to do is to create a product. If you don’t know how to create a product, you should start by checking here. Once it’s done, access the woocommerce quantity based pricing tab in your products settings:

Step 2: Select the woocommerce quantity based pricing feature and discount type

1. Enable the woocommerce quantity based pricing  feature by checking the checkbox below:

2. Select your preferred discount type between Percentage, Fixed amount and Give N for free.

Firstly let us try to define the discount types mentioned above:

Percentage: This type of discount allows you to offer a percentage-based discount if the customer purchases a certain quantity, for example, 10% if the quantity bought corresponds to the rule type defined by the shop owner.

Fixed amount: you define a fixed amount off the basic price of the product, for example if the product is 5$, the fixed amount discount can be 2$, if the quantity purchased corresponds to the rule type defined.

Give N for free: this type of discount on the other hands, gives out a quantity of product for free when a quantity of  another product is bought. For example, if he buys between 10-15 pieces of a product he has 2 of another product for free or if he buys 2 pieces of a product, he has 1 other product for free.

Step 3: Select the rules type

3. Select one of the rules type below: Rules type helps the plugin to evaluate the quantity added to a cart. Below are the ways in which they can be used.

• Intervals: If the quantity ordered is between a minimum or a maximum value, then the discount specified will be applied. It helps define the intervals in which discount types can be applied, for example if the client purchase between the intervals of 5-10 he gets a 10% discount, or 10$ off, or a free gift. If he buys between intervals of 10-20, he gets 15% off (percentage), or 20$ off (fixed amount), or 2 free gifts (give N for free).

• Steps: Allows you to set a woocommerce quantity based discount if the purchased quantity is a multiple of a specific value. For example, if the quantity purchased is a multiple of 2 then the discount type chosen will be applied. That is to say a discount is applied on every multiple of number. Every purchase from 2, 3, 4 etc…. Will get either a percentage, fixed amount discount or a free gift. Based on the rules defined by the shop owner.

Step 4: Enter quantity intervals and save

4. Enter the quantity intervals or multiples (if you’re using the steps algorithm).

5. Save the product and you’re good to go.

A pricing table will be displayed on the product page, this will show the user the different pricing options available based on the purchased quantities.

Conclusion

This is a simple woocommerce bulk discount demo that shows you how to set-up a woocommerce quantity based pricing table.

This is to show you that you don’t need to look far away when you need to create discounts. The Conditional Discounts for WooCommerce plugin has simplified the process for you to create all types of discounts.

WooCommerce-based quantity pricing is a powerful and flexible strategy for e-commerce businesses looking to optimize their pricing strategies and boost sales. By offering discounts or tiered pricing based on the quantity of products purchased, businesses can incentivize customers to buy more, increase their average order value, and improve overall profitability.

This pricing approach benefits both customers and businesses. Customers enjoy cost savings when they buy in bulk, while businesses can enhance their revenue and customer loyalty.

Moreover, the ease of implementation and management through WooCommerce plugins and extensions makes it accessible for businesses of all sizes.

However, it’s essential for businesses to carefully plan and execute their woocommerce quantity based pricing strategy. Factors like pricing structure, profit margins, and competitor analysis should be considered to strike the right balance between enticing customers and maintaining profitability.

Regularly monitoring and adjusting your pricing strategy based on customer feedback and market conditions is also crucial for long-term success.

In summary, WooCommerce-based quantity pricing is a valuable tool for e-commerce businesses to drive sales and improve customer satisfaction.

When implemented effectively, it can lead to increased revenue and a stronger market position in today’s competitive online marketplace.

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