Running a Shopify store can be a very profitable endeavor, but it is important to make sure that you are doing everything possible to maximize your sales. One way to do this is by using volume discounts on Shopify. In this blog post, we will discuss what volume discounts are, and how you can use them to boost your Shopify sales!
What is a Volume Discount?
A volume discount is a type of discount that is offered to customers who purchase a large quantity of items from a store. This can be a great way to encourage wholesale buyers to buy more products, and it can also help you to clear out inventory that you may be struggling to sell.
How can I offer Volume Discounts on my Shopify store?
There are a few different ways that you can offer volume discounts in your Shopify wholesale store.
- By offering a percentage off of the total purchase price for orders over a certain amount. For example, you could offer 10% off orders over $100.
- By offering a fixed discount for each unit purchased above a certain amount. For example, you could offer $5 off for each item purchased over 10 items.
- You could also combine the above two methods, and offer both a percentage and a fixed discount for orders over a certain amount.
How to Use Volume Discounts in Your Shopify Store? (Steps)
Now that we have discussed what volume discounts are, let’s talk about how you can use them in your Shopify store.
The first step is to decide what kind of discount you would like to offer. As we mentioned above, you could offer a percentage off of the total purchase price, a fixed discount for each unit purchased, or a combination of both.
Once you have decided on the type of discount, you will need to set up your Shopify store accordingly. If you are offering a percentage off of the total purchase price, you will need to create a discount code. If you are offering a fixed discount for each unit purchased, you will need to set up a pricing strategy.
By default, Shopify admin area offers you features to set volume discounts. If you want to run a fully-fledged Shopify wholesale store then you might want to consider a third-party Shopify wholesale app. There are many apps available in the Shopify app store.
Once you have your discount code or pricing strategy set up, and have a required Shopify wholesale app installed on your store, you will need to promote it to your customers. You can do this by including it in your store’s announcement bar, sending out an email blast to your subscribers, or promoting it on social media.
If you are offering a volume discount, it is important to make sure that your customers know about it. Promoting it in a way that is easy for them to see will help to ensure that they take advantage of the discount and make a purchase from your store.
What Are the Benefits of Using Volume Discounts?
There are many benefits of using volume discounts in your Shopify store.
- It can help to boost your sales by encouraging customers to purchase more products.
- It can help you to clear out inventory that you may be struggling to sell. This is because customers are more likely to purchase products that are discounted, even if they do not need them right away.
- Volume discounts can help to build customer loyalty. If customers know that they can get a discount for purchasing a larger quantity of items, they are more likely to continue shopping with your store in the future.
- Volume discounts can help you to attract new customers. If you offer a generous discount, it may encourage people who have never shopped with your store before to give it a try.
- Finally, volume discounts can help you to improve your margins. Even though you are offering a discount, you are still making a profit on each sale. This is because the per-unit cost of the products is lower when you purchase them in bulk.
Offering volume discounts can be a great way to boost your Shopify sales. If you are not currently offering volume discounts in your store, we encourage you to give it a try!
Do you offer volume discounts in your Shopify store? Let us know in the comments below.