Almost any store offers its customers good conditions and discounts when they make a wholesale purchase. This is called Magento Tier Price, let us review how to configure it and what profit that would give.
Let’s say there are several price levels in your store. First level - customer buys 1 or 2 kilograms of a product at the price of $14; second level – price is reduced to $11,90 if you buy 3-5 kilograms; third level – you can buy 6 and more kilograms for $10,50. As you see, this stimulates the customer to buy a large quantity of a product at once. This not only increases your sales volume but also gives you a lot of loyal customers and partners.
If necessary, you can create separate customer groups according to their purchase level. In order to make this system work, a customer should log in to their account, then you add them to the corresponding group and from that moment they can see special product prices. You may also configure this function for anonymous customers, e.g. for promotion purposes, this will inspire people to register in your store.
After a customer has created an account in your store and logged in, they can see special price offers on the product pages. We advise you to add an invitation at the top of the page in order to call the customer to action (e.g. buy a product or consult with a support person):
- 1. Go to the admin panel;
- 2. Go to Catalog → Manage Products. You will see Manage Products page where the list of all your products is displayed;
- 3. Choose ‘Prices’ section for products where you wish to set special prices;
- 4. The field ‘Tier Price’ will be empty, you need to fill it. If there is no such field, click ‘Add Tier’;
- 5. In ‘Customer Group’ field choose the group of customers for which the special price will be applied;
Also you can look for necessary Magento modules which can extend the Magento tier pricing functional and it will help you to improve your site.
Groups and explanations
This group contains all registered and anonymous customers and visitors of your store.
Anonymous (not logged in)
These are customers who have an account in your store but they have not logged in. Magento does not recognize them in this case.
If there are no customer groups, all newly registered customers will be located in this section.
If customer groups were created through Customers →Customer Groups, they will be visible in the drop-down list. You may create groups for clients-partners, a discount or a partner program, etc.
- 6. Use the field ‘Qty’ to enter the number of product items that need to be purchased in order to get a special price;
- 7. Enter the special price into ‘Price’ field;
- 8. If you need to add another section, click ‘Add Tier’;
- 9. Save the settings.
Magento Tier Price is necessary to stimulate the existing customers and attract new clients. If you have any additional questions, please feel free to contact Magento experts, visit our forum http://magentoforum.com/ or leave a comment to this article.