oOrjit has the power for you to control prices in many different ways depending on your industry and business case. Here are just a few: -
Controlled by your ERP
If you require, you can integrate oOrjit two-way with your ERP platform. This means that you can control pricing from your ERP system itself which then communicates price information to your commerce platform. Alternatively, you can change pricing options at the commerce platform side, which in turn communicates pricing options to your ERP platform.
Lastly, your company may not have an ERP system, in which case, oOrjit can manage the entire pricing management process from out of the box for your company.
By discount, set price, set percentage, by shipping discount
The controls you evoke overpricing can be applied in multiple ways: -
- By discount - this approach simply adjusts the retail price of what you are selling by the discount you nominate. This will be applied based on some of the parameters you set later in this article below.
- Set Price - you can simply nominate a unique set price based on a parameter that is new and different from your base retail price.
- Set Percentage - you are able to apply a price variant based on a percentage. This is particularly useful if you would like to
- By Shipping Discount - another way to evoke a discount to price is to provide a change to the set shipping costs the customer would otherwise pay.
Stack Price Options or Best Price Only
oOrjit empowers you to create multiple pricing options based on a whole range of customer activities, inventory levels and promotions you may running at the time. But what if some of these pricing changes overlap, resulting in a discount, a new set price and a shipping discount all offered to the customer? Well, this might be ok. Or you may prefer to not allow pricing options to stack atop each other like this. The oOrjit platform gives you the control to allow this or not. If you want only one price variant to be granted to a customer, then you can nominate that in your settings for prices. If you want certain price options to stack on top of each other to give customers even more price advantages, then you can permit this too. The choice is yours.
Per Customer Group
Pricing per customer group is one of the most powerful ways to apply price control and empowers your oOrjit e-commerce platform to operate as a true omni-channel capability.
Let us look at some examples to explore the power of this functionality.
Let's say you grouped 100 of your customers as “Business to Business” customers. You could apply pricing options based on certain parameters that only apply to business customers. This way it operates as a unique B2B e-commerce platform.
Alternatively, you could have customers that are members or VIPs. By allocating customers to this group, you can apply all sorts of pricing advantages to them as well. This is very powerful for loyalty marketing.
By Assortment or Product/Service Category
oOrjit gives you the power to apply pricing variants to certain product or service categories. Any product or service within these categories will provide the pricing variants you have selected. This is particularly powerful in two ways: -
- Align prices based on inventory type - perfect for seasonal commerce and other business cases.
- Combine Customer Group AND Product Category - this way you can apply price variants by product category for specific customer groups.
If you are running a global store or online marketplace, you can control what prices are applied to customers based on their region. This also includes currency.
Based on Cart Size
Cart size refers to how many products at what total cost have been applied to the checkout cart by a customer ready for payment. If a customer for instance has 1000 dollars of products in their cart, you can apply price variants and discounts based on these thresholds. The beauty of these promotions is they are only applicable when a customer is prepared to spend a certain level with your company.
Based on Quantity
Quite different from cart size, you might like to apply unique prices based on the number of products or services purchased on your brand store. This is also achievable with oOrjit commerce.
Purchasing in Bundles
With oOrjit commerce, you can also join multiple products or services in bundles and if purchased together, the collective price of all the products or one product will be adjusted. This is particularly convenient for customers that are likely to purchase two or more products together as those products complement each other. However more importantly, companies that use this technique have experienced an uplift in average cart size which in turn increases sales in general.
Member Pricing - Loyalty
You may like to offer a membership program that you offer for free or for a subscription fee. oOrjit commerce can manage subscriptions and memberships for you. Then, you can apply price variants to products or services specifically for customers that have signed up as a member of your e-commerce platform or company.
Pricing By Date
Pricing by date is great to run seasonal-based promotions across your commerce store. Black Friday Specials, Mother's Day Discounts etc are all examples where you might like to effect a price variant based on a date range and then after that date expires, prices revert to your set base price.
Price by date also works effectively for perishable products where certain products have a shelf life and need to be sold by a certain time or they are rendered worthless. Price by date can discount products for a quick sale the closer they arrive to the perishable date - this way you will never be left with stock you can’t sell.
This capability is also offered in the oOrjit commerce platform.
Price by Inventory Level
Sometimes you have purchased a large supply of a particular indent. Your company wants to ensure that it sells a certain level of stock within a certain time to offset the risk of holding stock for too long.
Via the oOrjit e-commerce platform, you could set alerts and price variants based on inventory thresholds so that prices can increase as stock becomes scarce or decrease as you are left with high volumes of stock. Either way, you have the power to connect inventory levels with pricing control to maximise the selling potential for your business.
By Weight, By Feature, By Characteristic.
The weight of a product can be a determinant of price with oOrjit commerce. This is particularly relevant to jewellery-based businesses, where gold and silver are sold by weight. Similarly, diamonds can be sold by their characteristics, i.e. colour of the diamond and so on.
Features may be another variant that can be applied to adjust the price. This too is possible with oOrjit if your business requires it.
By Service Category & Duration
Your company might sell services via oOrjit services marketplace technology, where you would like to adjust your prices based on the type of service and its duration. With oOrjit, you can offer price variants based on a customer attending a particular service for different lengths of time.
The Conclusion - Never let price get in the way of a sale!
As you can see, price should never get in the way of making a sale with oOrjit commerce. If you don’t see a pricing control you need to offer your customers, please let us know. We would love to help you deliver that too.