Dynamic pricing means adjusting product prices based on different situations like how much a customer buys or what kind of customer they are. This is really helpful for WooCommerce store owners, especially if you are targeting a whole bunch of customers. Using WooCommerce dynamic pricing, you can make your prices work better for your customers while helping your store earn more.
Let’s find out how it works and why it can help your business grow!
What Is WooCommerce Dynamic Pricing?
WooCommerce dynamic pricing is a way to change the price of your products based on specific discount rules. For example, you can give cart discounts to customers who buy in bulk or set special prices for wholesale buyers. This makes shopping better for your customers and helps you sell more products using dynamic pricing and discount strategies.
Some things that can affect dynamic pricing are:
- How much a customer buys: Bulk buyers often get better deals based on dynamic pricing rules.
- Type of customer: Wholesale buyers, VIPs, or new customers might get special pricing.
- Product category: Some products, like seasonal items, might have pricing and discount rules.
- Market trends: Prices can go up or down depending on demand.
For example, imagine you sell T-shirts. If a customer buys just one, they pay $20. But if they buy 100, they only pay $15 each. This helps you sell more while making your customers satisfied with lower prices for larger purchases.
Moreover, dynamic pricing works well with wholesale businesses. It allows you to offer fair prices, encourage bigger orders, and build stronger relationships with your customers.
Types Of WooCommerce Dynamic Pricing Rules
Dynamic pricing uses pricing rules to decide when and how to adjust prices. Let’s look at the most common types:
1. Quantity-based or tiered pricing
This type of pricing gives discounts based on how many items a customer buys. For example:
- 1-49 items: $10 each
- 50-99 items: $9 each
- 100+ items: $8 each
This encourages people to buy more because the thinking here is that they can save more as their purchases go higher.
You may read more on quantity discounts in our article “How To Use WooCommerce Quantity Discounts To Grow Your Wholesale Business.”
2. User role-based pricing
Here, pricing changes depending on who the customer is. For example, wholesale buyers might get a 20% cart discount, while regular customers pay full price. This kind of pricing rewards loyal and important customers using dynamic pricing and discount setups.
Know more about role-based pricing here: How To Add WooCommerce Role-Based Pricing And Payment Plans.
3. Category-based pricing
For this pricing rule, you can set discounts for specific product categories. For instance, you might offer 15% off all winter clothing after the holidays. This helps clear out seasonal inventory and attracts more customers based on pricing rules.
Learn more about category pricing in our article: How To Create A WooCommerce Category Discount (2 Simple Ways).
4. Product-based pricing
Simply put, with product-based pricing, you can adjust prices for individual products. For example, you might lower the price of a popular item to increase sales while keeping other items at regular prices. This strategy lets you focus on products that need a boost in sales using pricing and discount rules.
5. Dynamic pricing based on cart total
WooCommerce dynamic pricing and discounts can also be applied when customers spend a specific amount. This approach motivates customers to reach a set threshold, directly increasing the total order value. This not only encourages larger purchases but also improves your store’s overall revenue by rewarding customers for spending more.
How To Setup WooCommerce Dynamic Pricing
Unfortunately, WooCommerce doesn’t have built-in tools for dynamic pricing. This means you’ll need to rely on a specialized plugin to handle the complexities of dynamic pricing. Plugins like Wholesale Suite are designed to bridge this gap by offering an easy way to set up advanced pricing and discount rules. Wholesale Suite allows you to create flexible pricing strategies tailored to your store’s needs, such as tiered pricing, user role-based discounts, and cart discounts.
Now, let’s further discuss some ways to change prices based on different factors to increase the sales of your online store. In the following examples, we are already expecting that you have the plugin installed and activated.
1. General percentage pricing discount
This setup in Wholesale Suite allows you to set a “General Discount” for each wholesale role. These discounts are automatically applied to users assigned to the selected role if:
- The product they wish to purchase does not have a specific wholesale price set.
- There are no category-level wholesale discounts applied.
The discount is entered as a percentage (%). For example, enter the following for:
- 3 for a 3% discount.
- 30 for a 30% discount.
- 0.3 for a 0.3% discount.
To create or manage discounts, simply follow these steps:
- Select a wholesale role from the dropdown menu.
- Enter the desired percentage in the Percent Discount field.
- Click Add Mapping to save the discount.
The existing mappings will be displayed as shown in the table above, allowing you to edit or delete entries as needed.
2. User role and quantity-based pricing discount
This feature allows you to provide additional quantity-based discounts in conjunction with the global General Discount for specific wholesale roles.
Key options:
- Enable general quantity-based discounts: Toggle this option to activate or deactivate the quantity-based discount system. If unchecked, all mappings below will be ignored.
- Apply discounts based on individual product quantities: By default, the system calculates discounts based on the total quantity of all items in the cart. Selecting this option changes the behavior to apply discounts based on the quantity of individual products in the cart.
How to set discounts:
- Choose a Wholesale Role from the dropdown menu.
- Define the Starting Quantity (the minimum number of items required for the discount to apply).
- Define the Ending Quantity (the maximum number of items eligible for the discount). Leave blank if there’s no upper limit (optional).
- Enter the Percent Discount value as a percentage (%).
- Click Add Mapping to save your settings.
3. User role pricing based on cart subtotal price
This feature allows you to apply an additional discount for specific wholesale roles based on the cart subtotal price (excluding taxes and shipping).
How to use:
1. Fill in the required fields such as:
- Wholesale role: By selecting a wholesale role, you ensure that the discount applies only to users assigned to that specific role.
- Subtotal price: The subtotal price is the total value of the items in the cart before taxes, shipping, and additional fees. This field determines the threshold for applying the discount.
- Discount type: This field allows you to choose how the discount will be applied (e.g. fixed or percentage discount.
- Percent discount: A percentage of the cart subtotal is deducted (e.g., 10% off).
- Discount amount: Specifies the value of the discount to be applied.
- Discount title: A custom name or label assigned to the discount for easy identification.
2. Click Add Mapping to save the discount.
📝 Additional Notes: You can create tiered discounts by adding multiple subtotal price breakpoints for the same wholesale role. However, only one discount will apply based on the cart subtotal.
Benefits Of Applying Dynamic Pricing For WooCommerce Stores
1. Increased sales volume
When customers see that buying more items will save them money, they’re likely to purchase more. For example, if buying 50 items costs less per item than buying 10, customers will want to buy more of those items. This helps your store make more sales and brings in more revenue. Using WooCommerce dynamic pricing rules ensures you achieve this effectively.
2. Enhanced customer loyalty
Giving discounts to loyal customers or wholesale buyers shows them that you value their business. For instance, if a regular wholesale customer always gets a 20% discount, they’re more likely to keep shopping with you instead of going to another store. This kind of approach helps build trust.
3. Competitive edge
Offering flexible pricing sets your store apart from others. If your competitors don’t offer personalized discounts or dynamic pricing, your store becomes the better option for customers looking for good deals. Dynamic pricing and discount offers help you stay ahead.
4. Better inventory management
You can move slow-selling items faster by lowering their prices. For example, if a product isn’t selling well, a discount can make it more appealing. This frees up space for new products and keeps your inventory fresh.
5. Improved profit margins
During busy times, you can slightly raise prices to increase profits. For example, holiday seasons often bring high demand, so adjusting prices for popular items can help you earn more without losing customers.
6. Seasonal promotions
Offering discounts during specific times, like back-to-school or holiday sales, helps attract more customers. For instance, a 20% discount on summer items during fall can help clear old stock and bring in new shoppers. Based discounts like these make promotions easy.
7. Higher average order value
Customers are likely to spend more if they know they’ll save money. For example, if adding one more item to their cart gets them a 10% discount, high chances are: they’re likely to make that extra purchase. This helps increase sales effectively.
Learn more about average order value in our article: How To Increase Average Order Value In Wholesale (7 Effective Strategies).
8. Streamlined management
Plugins like Wholesale Suite make it simple to create and manage dynamic pricing rules. This saves you time and effort and lets you focus on growing your business instead of constantly changing prices.
Frequently Asked Questions
How do you manipulate the price in WooCommerce?
To adjust prices in WooCommerce, use plugins like Wholesale Suite. These plugins let you set rules for discounts based on things like quantity, customer type, or product category. WooCommerce dynamic pricing makes this simple.
What is the problem with WooCommerce dynamic pricing?
One problem with dynamic pricing is that customers might feel it’s unfair if the rules aren’t clear. To avoid this, make sure your pricing and discount rules are simple and easy to understand.
How do I change the pricing on WooCommerce?
To change product prices, go to your WooCommerce dashboard, select the product, and update its price. For more advanced pricing, use a plugin like Wholesale Suite to set up dynamic pricing rules.
Conclusion
WooCommerce dynamic pricing is a smart way to make your store more successful. It helps you offer better deals to customers, encourage bigger purchases, and build strong relationships with wholesale buyers.
In this article, we talked about what dynamic pricing is, the different types of pricing rules, and how to set them up using Wholesale Suite:
- What is WooCommerce dynamic pricing?
- Types of WooCommerce dynamic pricing rules
- How to setup WooCommerce dynamic pricing
- Benefits of applying dynamic pricing
By using WooCommerce dynamic pricing, you can make your store stand out, increase sales, and keep your customers highly satisfied. Start using these dynamic pricing rules today to see how they can help your business grow!
Got questions about dynamic pricing? Let us know in the comments below!
