How Price Negotiation Extension Helps In Winning the Customers On eCommerce?

Jan 03,2020 by Guest Author
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Spinning the wheel and getting a discount looks old school when the new Magento price negotiation extension is making the eCommerce world a better place to shop! Isn’t that something we all have been expecting from the eCommerce store owners since long?

Well, it was once a pipedream to establish something of the kind that can negotiate the price of the products on the internet. But now, no more! The strangest thing (bargaining option) has now been in the place that allows the buyers to negotiate the price with the owner, just like the traditional B2C market.

The extension is able to establish a beneficial trade between the buyers and the store owners. There are no more limitations for shopping online when the buyer has the maximum flexibility to traverse across the store for getting a flexible price for a given product.

Consumer bargaining has been existent for ages, and it is a global phenomenon that not only gives the consumer a better deal but also builds long-term relationships with the brands. It becomes quite a persuasive deal for the buyer to actually pay for an item at a cheaper rate than the price tag.

It is not necessary that all the products should be up for bargaining over the store; however, it depends on the store owner, which product s/he wants to sell over a bargained price. The bargain hunters always look out for bargaining options and discounts over the eCommerce stores for buying their favorite products.

If you are excited to use this price negotiation Magento 2 extension, you definitely need to read this.

A brief about the working of the price-negotiation extension:

This Magento 2 extension enhances the customer’s buying capacity by offering them a price of their choice. The products that are up for sale are definitely decided by the seller and may be in a limited range. On approval from the admin from the backend, the products are sold to the customers. It is an effective technical solution that motivates the customer’s buying decision.

Your loyal customers definitely deserve a share of benefits, and this rewarding negotiation extension is a boon for them. They have contributed majorly to the stores, and their loyalty should be acknowledged over and over again.

Hence we would say this is a must extension for every Magento 2 eCommerce store owner.

If you are wondering how this price negotiation Magento 2 extension creates a win-win situation for both the buyer and the seller, keep scrolling down.

It offers better prices for the customers:

As mentioned earlier, we all love getting discounts from the spin wheel game, but what is interesting here is, with this negotiation plug-in, you get to bargain and select your own price for buying the product. The customer also has the right to give a price range in which they want to make the product purchase. The prospective product buyer thereby sends a message through the store with the bargained price and a reason for bargaining. In the same way, the admin can negotiate the price, and when both of them come on the common grounds, the deal is sealed. It is indeed a super happy deal for both of them.

It attracts more buyers on the store:

Bargaining is a lucrative rookie thing over the online stores. A bargaining sequence facility over the store invites everyone, even if they are just an online store passerby. It will be like an added bonus of getting products at lower prices without any sales running on the store. They will feel more attracted to such a discount and would desire to shop more from the store. This browsing activity definitely improves your chances of increased sales.

Now comes your favorite part, which is Store owners’ benefits:

Less cart abandonment:

There can be no bigger happiness than having less cart abandonment over the store. Initially, when the stores did not have this facility of bargaining, customers hesitated while making an instant purchasing decision. And as a result, they used to drop a product in the cart but never came back if they found a better deal over other online stores. But ever since this “fixed price” barrier was removed, customers can now easily interact and bargain for the product of their choice. This led to the emergence of the concept “instant purchasing” and resulted in lowering the cart abandonment rate.

Just a note: Be spontaneous while replying to the customers, which increases the chances of converting sales.

It improves the relationship with your customer:

The main issue most of the eCommerce store is juggling with is, enhancing the customer relationship with the store. The eCommerce industry is booming, and the competition between the stores is escalating. In this rising competition, it is important for you to make your customers feel special about collaborating with you.

Bargaining extension is the main tool that helps in setting up an easy connection with the customer. They love getting the benefit of the discounted rate and will keep coming back to the store. The small reward (bargained price) brings that joy of shopping with the brand.

If you are satisfied with the benefits, here is the list of features that you can expect from the price negotiation Magento 2 extension.

  1. It facilitates an easy negotiation:
  2. Customers can submit the quote or the bargaining request, along with the bargained price and a reason for a bargain.
  3. The admin has the authority to accept or reject the bargain offer;
  4. If the admin wishes to negotiate over a new price, S/he can send a quote with the new price which shall be notified to the customer via email;
  5. Admin has the authority to accept and delete quotes.

Bargaining over products is immemorial, and it is, in fact, the most favorite thing that customers love to do over the store. The price negotiation features entertain many avid shoppers onto the store and make the shopping experience fascinating than ever before.

Author Bio:

Harshal Shah has countless experience in the field of Information Technology. Also, he is the CEO of Elsner Technologies Pvt Ltd.- Web development company that offers various Magento, WordPress, Mobile App and PHP Development services to clients across the globe. Mr. Harshal is a huge tech enthusiastic person who has written major & genuine articles as well as blogs on topics that are relevant to various CMS platforms.

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