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Well, as a store owner, you are quite familiar with all types of discounts in the eCommerce industry. Volume pricing is a specific kind of discount you can offer to your customers for attracting them to your store. In this article, we will be discussing what volume pricing is and how you can set it up in your WooCommerce store in simple steps.
What is Volume Pricing?
The basic concept of volume pricing is, if a customer purchases more items, they will be paying less price per item. In the WooCommerce world, it is also called ‘bulk discounts’.
There will be many reasons you need to provide a volume discount in your store. Some of them are listed below:
- Increasing the sales: Every business expects more sales each and every day. If you provide an offer for bulk purchases, customers will buy more items, which will increase your sales.
- Clearing stock: If your store has many products which didn’t get a good demand in the market or products which will soon expire can be sold in bulk at discount. This can also be used in selling products that depend on specific seasons like Christmas, Halloween, etc.
- Retaining your customers: Retaining your existing customers is as important as attracting new customers. You can provide volume discount to your existing shoppers to make them choose your store over other competitors.
- Marketing your products: If you provide these volume discounts in your store, the impressed customers will definitely suggest your store to their friends and other people to purchase from your store. You can use it as a marketing strategy to boost sales in your store.
Now, what are the different types of WooCommerce volume pricing in the industry?
Different Types of WooCommerce Volume Pricing
- Sitewide volume pricing: As the name suggests, this kind of discount will be applicable to the entire store. You can configure a percentage, flat or fixed price discount in your store if a customer purchases a specific number of products. You can also provide free products or gifts (BOGO) as an offer instead of providing price discounts.
- Role based volume pricing: You can configure the volume pricing for specific user roles in your store. The discount will be applicable to a customer only if they come under a configured user role in your store.
- Product or category based volume pricing: You can apply the volume pricing based on a specific product or product categories. If a customer purchases those specific products or products that come under the configured categories, the discount will be applied. In addition to that, there are discounts based on specific product tags, product combinations, etc.
You can configure many more discount types in your store based on different product attributes and the purchase behavior of customers.
How can you apply the volume based discount in your WooCommerce store?
The solution is to choose an advanced WooCommerce dynamic pricing and discounts plugin for your store. The best dynamic pricing and discount plugin in the market is – ELEX WooCommerce Dynamic Pricing and Discounts Plugin.
ELEX WooCommerce Dynamic Pricing and Discounts Plugin
This advanced plugin comes with 9 discount rules which can also be used to create additional discount rules by combining multiple rules. You can apply almost all discount rules with this plugin like volume pricing, sitewide discount, cart discount, role based discount, and so on. The discount rules available in this plugin are as follows:
- Product Rules
- Category Rules
- Combinational Rules
- Category Combinational Rules
- Cart Rules
- Buy and Get Free Offer (BOGO) Rules
- Buy and Get Offer (BOGO) Category Rules
- Tag Rules
- BOGO Tag Rules
To know more about each rule, refer to the article – Everything You Need to Know About WooCommerce Dynamic Pricing.
Let us check some examples of volume pricing applied using this plugin.
In order to integrate the plugin in your WooCommerce store, you have to subscribe, install and activate the plugin in your WooCommerce store. For more details, go through the detailed product documentation.
After the activation of the plugin, you can go to its dashboard for applying various discounts. Let us check a few examples as follows.
Example 1 – Sitewide volume pricing
This type of volume pricing can be applied using the Cart Rules of the plugin. You can configure the minimum and the maximum number of products that must be present in a customer’s shopping cart to be eligible for a percentage, flat, or fixed price discount.
As per the above discount, a flat discount of $20 will be applied to the subtotal of customers if they purchase 5 – 100 products from your store.
You can also set the features and options available in the Adjustments, Allowed Roles & Date, Restrictions, and Advance Restrictions tab as per your requirements.
After saving the settings, a flat discount of $20 will be applied to the customer’s shopping cart if the customer purchases 5 – 100 products.
Example 2 – Role based volume pricing
This discount can be applied using any rules in this plugin. You can use the Allowed Roles & Date tab to choose the required user roles in your store for whom you need to apply the discount. You can set it after configuring the percentage, flat or fixed price discount based on the quantity of purchase using Product Rules, Category Rules, or Combinational Rules, etc.
You can click the Allowed Roles & Date and choose the required user roles from the drop down pick up list.
After setting up the discount, only the selected user roles will be eligible for the configured volume pricing discounts.
Example 3 – Volume pricing based on products
We can use the Product Rules in this plugin for applying this discount.
Let us take a product – Album.
The actual price of the product is $100.
Let us set here a 50% discount for this specific product when a customer purchases a minimum of 10 Albums.
Check how it configured on the Product Rules:
In Product Rules, we can set a percentage, flat or fixed price discount on specific products, all products in a shopping cart, or all products in a single category based on their quantity, weight, and price. Here, in the above example, I have set a 50% discount for the product Album. If a customer purchases a minimum 10 number of products, the discount will be applied to the customer’s shopping cart.
After saving the settings, a 50% discount will be applied to the products if a customer purchases a minimum of 10 Albums.
As you can see, a 50% discount has been applied to the product Album when a customer added 14 Albums into the cart.
Similarly, you can configure the Category Rules and Combinational Rules in this plugin. You can set the minimum and maximum range of quantity of products that must be purchased by the customers to be eligible for a certain amount of discount.
To sum up,
Volume pricing is a discount method you can use to implement in your online store for improving sales, boosting the market value, and selling off the products which are close to their expiry date, etc. Using the ELEX WooCommerce Dynamic Pricing and Discounts Plugin, you can apply the volume pricing discounts in many ways with its advanced discount rules.
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