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Why should you use dynamic pricing in your discounts?
The main benefit of Dynamic Pricing is the ability to adjust prices for products as well as services based on time or product demand.
Buy up to 3 caps and get 10% discount
Buy 4 to 7 caps and get 20% discount
Buy more than 7 caps and get a 35% discount”
All in one rule? There is a chance of people buying 1 to any number of caps depending on how many they want. The rule attracts the people who want to buy 1 cap as well as the ones who want to buy 10 caps.
Advantages of Dynamic Pricing and Discounts:
Dynamic pricing is an advantageous strategy to boost the sales of all or specific products.
If a retailer consistently update the Product prices with dynamic pricing strategy, it will presumably maximize its potential profits.
Clear out slow-moving stock
Dynamic pricing also look after a substantial amount of inventory monitoring, with price reductions to eliminate higher inventory levels. This strategy favours to eliminate excess inventory quickly.
How to configure WooCommerce Discount Rules Plugin
- Download the Plugin from your registered FlyCart account.
- Install the Plugin into your WordPress site.
- You can find the activation Key under My Account Tab-> API Keys option in FlyCart website to activate the plugin.
- Once you find the activation Key, go to WordPress Site admin-> Plugin settings and activate it using Activation key and email id.
- To update the existing Plugin, click update now option located under the Plugins installed, to update it to the new version.
How to setup dynamic pricing in WooCommerce?
Let us consider the same discount rule as mentioned above.