To boost the revenues of your store and get the customer to spend more, tiered pricing is the perfect strategy. In tiered pricing, a customer is encouraged to add more items in his cart and increase his tier level for benefits and discounts.
What is Tiered Pricing?
In tiered pricing a customer is ranked on different levels based on his cart value or the number of items he is purchasing. The higher the level the more discount the customer gets. This strategy leads to a huge increase in your revenue and at the same time benefits the customer tremendously.
Steps to setup WooCommerce tiered pricing
- Install and activate the WooCommerce Tiered Price Table plugin.
- Navigate to WooCommerce -> Settings and select the Tiered Pricing tab. Here you can configure the settings according to your needs or you can leave it to default.
- Now edit the product you want to add a tiered pricing to.
- Scroll down to the Product data box. If it is a Simple product then in the General tab you will see tiered pricing options.
- Let the Tiered pricing type be Fixed and in the Tiered price option enter the quantity and price for the first level. To add more levels click on the New tier button and enter the quantity and pricing for each level.
- If this is a variable product then you will find the tiered pricing option in the Tiered Pricing menu of the Product data box instead of the General menu.
- Once done, save the product page. Tiered pricing is now active for your product.