“Pay What You Want” is a handy tool that makes your shop’s pricing super flexible by erasing the concept of a price limit. You can let your customers add onto their price totals if they like the product that you sell or what you do, in case you’re a nonprofit.
This pricing option allows you to be flexible in what price you are willing to accept for selected products, by letting customers name their own prices for them. You can suggest one or several prices to your customers, or you can give customers the freedom to define the price themselves. That doesn't mean that you lose control over your pricing, quite the contrary, you only erase the maximum price ceiling for customers.
\ Just enable the Pay what you want pricing for individual products right on the product page in your eCommerce App. You can use this option to sell all kinds of products and services. You can also make effective use of the Pay what you want pricing to accept donations.\
- To enable the Pay what you want pricing, you need to decide on the minimum price for your product. It can be “0” or any other sum. Customers won’t be able to add the item to the cart if the price is lower than the initial price.
- Products with the enabled Pay what you want pricing no longer have a traditional fixed price. There will be an empty field on the product page where your customers can offer the price that they are ready to pay. You can additionally provide price suggestions – they will be displayed as buttons with price tags (the “Your value“ option is also available).
To create products with variable prices:
- From your eCommerce App, go to Catalog → Products.
- Click Add New Product or choose a product from the list.
- Click Manage pricing options in the Pricing section.
- Find and click Enable “Pay what you want” pricing.
- Click the toggle button into the “Enabled” position.
- Set the Minimum price for your product.
- Click Add fixed price tiers to provide one or more price suggestions, if needed.
8. Click Save.
* Once the Pay what you want pricing is enabled for a product, you won't be able to set wholesale prices for it, show discounts off your prices, and use all price modifiers assigned to product options or variations.
That’s it! Now you have a product with a flexible price in your store.
\ You can always disable the Pay what you want pricing for your product if you want to go back to the traditional fixed price. To do so, go to the price management of the product, click the Pay what you want toggle button into the “Disabled” position, set a new price for your product, and click Save.
A Tip: You can create a separate category for all products with variable prices to make navigation in your store easier and these products more visible. You can also display products with the enabled Pay what you want the option as Related products in your catalog and in the cart.
Collecting Donations
If you are a nonprofit organization, you can benefit from the “Pay What You Want” strategy in two ways: collect donations or exchange merchandise for donations. The PWYW feature allows you to simply collect donations. Create a product “Donation,” add several tiers, like $5, $10, $20 (remembering to set a minimum threshold as well), and you can start collecting donations in a flash!
Another way to collect donations is to give your customers something in exchange for their extra money. If you have, for example, some overflow stock of relatively cheap items, you can offer them up as a “Pay What You Want” purchase.
We recommend checking out these Articles for a bigger view of how to launch your Online Store and choose the right pricing model for it.
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