There are many advantages to breaking into wholesaling. However, once you’ve decided to sell your products in bulk online, you’re faced with the issue of how to entice B2B buyers to buy from your store. Setting a WooCommerce discount percentage is one of the easiest ways to accomplish this!
This type of discount serves as a compelling incentive for wholesale customers, giving them immediate cost savings. The great news is that you don’t have to go through the tedious process of adding sale prices to your products or creating entirely separate listings for wholesale items. With Wholesale Prices Premium, you can easily set a global WooCommerce discount percentage across all your product listings!
In this post, we’ll walk you the benefits of wholesaling and walk you through how to set a global percent discount in WooCommerce. Then we’ll share some alternative pricing options. Let’s get right into it!
Why You Might Want To Sell To Wholesale Customers
In case you’re unfamiliar, wholesale is the practice of selling products to customers in bulk for a significant discount. Often, wholesale customers are retailers themselves who are looking to stock their shelves.
If you’re already in the online retail industry, branching into wholesale could be a huge boost to your business. There are several upsides to this approach, including:
- Expanded customer base. As a wholesaler, you open yourself up to a new audience of buyers, and therefore chances to generate additional revenue.
- Diversification opportunities. Having multiple streams of income can help keep your business afloat through the ups and downs of the market. Adding wholesaling alongside your existing retail operations is one way to do this, but you can also use your position as a middleman to assess niches you can expand into.
- Low marketing investment required. Generally speaking, wholesaling requires minimal marketing because most of your customers will be repeat buyers. After you build up your initial customer base, you can focus more on maintaining those relationships than attracting leads.
It’s important to note that in order to get started as a wholesaler you’ll need a fair amount of capital for stocking up on products, as well as a lot of storage space. Remember, this field is all about bulk orders, so everything is bigger than its retail equivalent.
What Is A Global WooCommerce Discount Percentage?
As a store owner, you’re likely familiar with different discount types for products in your store. The most common discounts given are percentage and fixed amount discounts.
With a global WooCommerce discount percentage, you grant wholesale customers a fixed percentage discount for all eligible products within your store. Unlike product-specific discounts, this applies across the entire purchase, making it a compelling offer for buyers looking to make bulk purchases. It offers a number of advantages for store owners, such as:
- Simplifies pricing: Setting a global WooCommerce discount percentage simplifies pricing and ensures consistency in discounts across your entire product line.
- Attracts more bulk buyers: Wholesale customers are always looking for the best deals that maximize their purchasing power. Setting a global discount percentage allows them to enjoy discounts across all the products they buy in bulk, giving them another reason to choose your store.
- Encourages higher purchase volume: With a global percentage discount set, you’ll encourage wholesale customers to increase their order sizes to enjoy bigger savings. This is good news for your conversions and bottom line.
How To Set WooCommerce Discount Percentage For Wholesale Products (Step-by-Step)
When it comes to turning your WooCommerce site into a wholesale operation, Wholesale Prices Premium is a must-have tool. It can help you set up many useful features, including creating wholesale customer user roles so you can implement unique pricing options and hide them from your retail customers.
One of the simplest wholesale pricing structures you can use is to apply a global WooCommerce discount percentage for all your products. Here’s how to do so with Wholesale Prices.
Step 1: Determine your wholesale prices
Before you start tweaking your online store’s settings, you’ll need to decide what percentage discount you can give your customers. At the end of the day, you still have to make a profit, so this step is crucial!
Firstly, it’s important to understand that there’s no single percentage discount that will work for all wholesalers. Instead, you’ll need to consider your specific circumstances, including:
- What your products are selling for on the market
- How much it costs for you to source your wholesale products
- How much you need to pay any employees or team members
- Other costs required for running your business (such as maintaining your warehouse)
Weigh these factors alongside your desired profit margin, and you should be able to gain a pretty solid understanding of what your wholesale prices should look like.
Step 2: Set your global discount
Now you’re ready to install and activate Wholesale Prices. Once you do, the plugin will automatically create a default wholesale customer role. Your global percent (%) discount will only apply to users with accounts assigned this role, and will only be visible to them when they’re logged in.
To set your discount, go to Wholesale > Settings > Wholesale Prices > Discount:
Under General Discount Options, you can map global discounts for wholesale customers. To do this, choose Wholesale Customer from the dropdown, then enter the percent discount you would like to offer:
Click on Add Mapping to apply your discount.
Important Note: With Wholesale Prices Premium, you can create as many wholesale user roles as needed, allowing you to map a difference WooCommerce global percentage discount for each. Learn more about this feature here.
Here’s an example of mapped global discounts for different wholesale user roles:
Customers to whom it applies will see it presented like so on your product pages:
Your wholesale venture is now up and running.
Other Wholesale Pricing Structures You Can Implement
While setting a global WooCommerce discount percentage is one of the easiest wholesale pricing options you can implement, there are many others possible with Wholesale Prices Premium. A few top examples include:
- Quantity based pricing: Increasing percentage discounts based on the number of items the customer is purchasing.
- Per Category pricing: Set different wholesale discounts for each product category on your site.
- Per Product pricing: Specify a wholesale price for each individual product.
- Wholesale Customer role based pricing: Create multiple wholesale customers roles and set different discounts for each of them.
- Per User pricing: Offer special wholesale pricing for a particular customer.
Additionally, you can set a variety of minimum order requirements, payment gateway options, shipping choices, and more.
Conclusion
Jumping into wholesale can be exciting and intimidating. Overall, there are many advantages to expanding your business in this way and plenty of tools available to help make the process of managing your e-commerce site easier.For instance, with Wholesale Prices Premium, you can set a global percent (%) discount in just two steps:
Do you have any questions about branching out into wholesale? Leave them for us in the comments section below!
