Driving Sales: Strikethrough Pricing in NetSuite SuiteCommerce
Strikethrough pricing is a powerful pricing strategy utilized in NetSuite SuiteCommerce to showcase product discounts. By displaying the original price crossed out alongside the discounted price, customers can clearly see the savings they will receive. In this blog, we will explore the benefits and applications of Strikethrough Pricing in NetSuite SuiteCommerce and how it can enhance your marketing and sales strategies.
Understanding Strikethrough Pricing in NetSuite SuiteCommerce:
When you enable the Strike-Through Pricing feature on your website, the discounted price is prominently displayed on the Product Listing Page (PLP) and Product Details Page (PDP) for all items, including matrix items. This allows customers to easily identify the reduced price and encourages them to make purchases.
How Strikethrough Pricing Works:
NetSuite SuiteCommerce compares a customer’s configured price level with the default price level set in the Shopping Catalog tab of the SuiteCommerce Configuration Record. If the customer’s price level is lower than the default price level, the item pricing on your website will display a strikethrough on the higher default price, with the lower customer price shown next to it.
Prerequisites required for Strike-Through Pricing :
To enable Strikethrough Pricing, you need to:
- Enable strike-through behavior to compare a customer’s Strikethrough price level with the default price level.
- Specify the default price level to compare it to a customer’s Strikethrough price level for effective pricing display.
Let’s consider an example where Strikethrough Pricing is enabled with the default price level set to “pricelevel1” with a defined price value of $114.99. An alternate price level “pricelevel2” with a price value of $86.99 is configured. If a customer is set to pricelevel2, they will see the base price of the item ($114.99) with a strikethrough and the alternate price ($86.99) available exclusively to them. This encourages them to make a purchase at the discounted price.
Guest shoppers see the base price ($114.99) displayed because the standard online price is the same as the base price.
Enable Strike-Through Pricing in your Website:
To enable Strikethrough Pricing on your website, follow these steps:
- Navigate to NetSuite, go to Commerce > Websites > Configuration.
- Select your website and domain.
- Go to the Shopping Catalog tab and check the “Enable Strike-Through Behavior” checkbox.
- Under the Default Price Level field, enter the value as “pricelevel1” (or your default price level).
Advantages of Strike-Through Pricing :
- Highlighting Savings: Strikethrough pricing makes it easy for customers to see the difference between the original price and the discounted price, enticing them to buy.
- Simplified Pricing: By offering discounts based on order size, you simplify the pricing process for customers and staff, leading to a better shopping experience.
- Increased Profits: Offering discounts for larger orders encourages customers to buy more, leading to increased sales and profits.
Strikethrough pricing is a valuable marketing strategy for businesses to highlight discounts, offers, and promotions. By understanding its benefits and applications, businesses can make informed decisions about incorporating strikethrough pricing into their marketing and sales strategies. To learn more about strikethrough pricing for your NetSuite ecommerce site, set up a consultation with us today.