To offer discounts for bulk purchases from your website you can use tier pricing. It allows you to set different pricing per quantity if customers buy a certain number of products. It encourages your customers to buy more and get attractive discounts.
Follow the below steps to set multi-tier price for the product:
Step 1: Logged into your admin panel.
Step 2: Go to CATALOG menu and click on the PRODUCTS.
Step 3: Now click on the Edit.
Step 4: Click on the Advanced Pricing.
Step 5: Now a popup will appear.
Step 6: Select your desired website on which you want to set the tier prices.
Step 7: Now select a customer’s group according to your requirement on which you want to set the tier price.
Step 8: Set a quantity.
Step 9: Select Fixed or Discount price type for pricing. If you select Fixed then price will be fixed for the quantity. If you select Discount then the price will be calculated for the quantity according to discount.
Step 10: Set a tier price.
Step 11: Finally click on Done and save it.
Step 12: Flush the cache.
Step 13: Open the product that you set tier price.
Step 14: Now tier price is shown on the frontend as shown in image below.