Table Of Contents
This post is kindly sponsored by Magepsycho
What is Magento?
Magento is one of the most popular open-source eCommerce CMS platforms. CMS stands for Content Management System is an application used to manage all content related to a product or service in one central location.
In simple words, Magento is an application used to sell products and services online. Magento was first released on March 31, 2007. Some examples of popular brands using Magento include Coca-cola, TimberLand, Ford (to pick out 3 of many).
Why use Magento?
Day by day, the number of people selling products online is increasing. There are various eCommerce platforms where you can sell products online. But Magento should be your top choice. Today Magento E-commerce platform powers 0.6%of all websites on the Internet and it is extensively used for eCommerce web development.
There are lots of benefits to using Magento. Some of the key benefits are listed below:
Open Source
Scalable
SEO Friendly
Powerful Platform
Customization
Easy to integrate
Mobile Friendly
A huge Community
What is Magento 2?
Magento 2 was released in 2015 in order to solve the flaws of Magento 1.x versions. The current stable release version of Magento 2 is version 2.3.5. Magento 2 is comparatively faster than Magento 1.x as it supports the latest release of PHP which is version 7. It is highly secure and the page load speed is quite good compared to Magento1. And, it also allows users to update the e-commerce websites automatically.
Advanced Pricing in Magento 2
Magento 2 offers a setting up Advanced Pricing for a specific product from the admin panel. The advanced pricing includes Group Price, Special Price, and Tier Price.
Some benefits of using advanced pricing are:
Results in more sales
Increase traffic to the website
Attracts new customers
Helps to create demand for new products
Clear outs the old stocks
Now, let’s understand each of the advanced pricing options:
Group Pricing:
The configuration made from the admin panel in order to set prices for discounted items based on different customer groups is called group pricing.
Customer grouping is the feature of Magento 2 which allows you to divide the customers into certain groups so that you can set a different discounted price for a specific group of customers. Customers can easily compare the difference between the regular price and group price on the product page which encourages them to buy the product.
Group Pricing
Pic Credit: Magento Docs
Special Pricing
Special prices are offered to products for a certain time period. During that time period, the special prices are displayed on the product page instead of the regular price. However, the regular prices are also displayed after the special prices.
There are several benefits of offering special prices. Some of them are listed below:
It is suitable for the festive season. People can buy the product for a specific time period.
It helps to attract more customers as people will easily be convinced to buy the product seeing the difference between regular and special prices.
It helps to clear out the old stock products.
Special Pricing
Pic credit: Magento Docs
Tier Pricing
Tier pricing is a pricing method used by sellers that are used to sell products within a particular range based on a specified target market.
Tier Pricing
Pic credit: Magento docs
The picture above is an example of Tier pricing where the seller is offering discounted prices for different quantities of water bottles.
Offering tier pricing for your product has several benefits including:
It plays a vital role in stock clearance. It increases the number of sales since the products are sold in groups. It attracts more customers. People love discounts.
Limitations of Magento 2
As discussed above, Magento 2 helps to set various advanced pricing. However, there is not an option to update the prices in a bulk. Imagine having a huge store where you need to go to every product and update their prices. It may not be a problem for a small store but for big stores with thousands of products, this will be a huge problem.
In order to solve this issue, we came up with an extension that helps to update the prices of products in your store in a bulk. This means you can easily update the value of the price in a single go for tons of data.
What are Extensions?
As per the Magento docs, An extension is a custom module, language pack, or combination of custom modules and language packs, that adds new functionality to the core Magento product.
All extensions submitted to Commerce Marketplace are managed from the Extensions page in the Marketplace Developer Portal.
Extensions are needed in order to add some new features which are not provided by the Magento itself.
Introducing MagePsycho
Since the launch of their first product in 2009, they have been committed to creating high-quality Magento extensions and services for customers all around the world. Their team consists of Magento certified and Zend certified engineers.
They have developed around 100+ extensions which are available for Magento1 and Magento2 with the main goal to get you quality extensions that are functional, stable, and compatible with your applications.
Benefits of Magento 2 Regular, Special & Tier Price Importer Extension
If you want to update the price of your store product you can easily update them from the admin panel. Imagine you have hundreds and thousands of products in your store and need to update the prices of those products, you will need to visit each product and update the prices of that product individually. It will definitely be an issue as it will be more time-consuming and there might be errors while done manually.
In order to solve this issue, we at MagePsycho have created the extension called Magento 2 Regular, Special & Tier Price Importer which is the fastest importer tool for updating different prices like regular, cost, MSRP/MAP, special, tier & customer group price via different methods like admin, CLI & cron jobs.
This extension is compatible with both Community and Enterprise editions of Magento with versions 2.1, 2.2, 2,3, and 2.4.
Conclusion
MagePsycho offers you 100+ extensions for Magento1 and Magento2 to make your life as a developer, store owner, or agency easier.
Magento 2 Regular, Special & Tier Price Importer extension bulk updates(add, update or delete) the prices of products with just a single CSV file. You simply need to upload a CSV file with all the cost details of products and this extension will update all the records in a single go. All the details regarding this extension with a proper installation guide can be found here.