The online shopping industry is growing day by day because of the readily available discounts, offers, and promotional campaigns. People are availing the comfort of ordering things around the internet at cheap rates as compared to their local stores. To meet their expectations, merchants have to devise a new strategy to encourage them place orders in pursuit of discounts. Implementing a new pricing strategy is not easy on a traditional cart system as it involves a bit of calculation.
To help you in such promotional endeavors, we recommend the installation of Dynamic Pricing Rules plugin that allows you to define rules along with customer focused conditions, which finally automate the process of offering discounts. Now, you won’t have to consider each order separately for quoting a market competitive price. Customers can simply select a set of products and get to know either a special offer or discount is available. For your convenience, we have drawn a simple and easy to follow procedure for defining pricing rules to catalog and the cart. Please follow the steps below for a hassle free configuration of this useful application.
Step 2: Continue with the installation process. Once the application is installed, move on to the installed plugins section, and click Activate to put Dynamic Pricing in action.
Step 3: The activation will create an additional tab in the control panel of your online store labeled as DPR. Click it and you will find two sub-categories that are Catalog Pricing Rules and Cart Pricing Rules. Select each one to set or remove rules.
Step 4: Start with Catalog Pricing and click ‘Add Rule.’ A comprehensive form will appear to record the necessary data that best describes your pricing strategy for the product catalog. Add a custom rule name, priority and select a mode of discount either a quantity based or special offer. Set conditions and define actions, and proceed to save the rule.
Step 5: Navigate to the Cart Pricing rules to help your customers avail discounts in the checkout process. Here you are again set rules that apply to the Cart which includes the products a user wishes to purchase. At this point, they can also avail discounts from a special offer or associated with the quantity a buyer orders.
Step 6: Once the rules are defined, the special offers or discounts can be viewed on product pages like this.
Step 7: If you set discounts on buying a specific quantity of products, the offer will appear like this.
Step 8: When a customer adds the products to the cart, the offers are carried forward as well. They can view the discount and subtotal before checking out.
Step 9: The discounts is continuously shown on checkout pages for the convenience of the end users. They know the amount they are saving with each purchase.
The display of discount offers of products proves that you have successfully added dynamic pricing to your online store. You can set multiple rules according to the pricing policies and different discount schemes to encourage customers to make more purchases and boost revenue.
Dynamic pricing is one of the most effective pricing policies that automatically calculates discounts and subtotal of an order placed by a customer. It creates convenience for the merchants as well as consumers to know the amount of money they can save on a product. We hope the suggested Dynamic Pricing plugin can help you easily manage discounts and rebates for your valuable customers.