If you want to make more money from your WooCommerce store, then you must consider setting up a minimum order quantity.
You can accomplish this with the help of Wholesale suite plugin.
This plugin will help you setup minimum order quantity for wholesale in woocommerce in no time.
Before we get into how to setup minimum order quantity on your WooCommerce store, you need to know a few things.
What I want you to know about is:
- 4 Reasons Why You Should Setup Minimum Order Quantity, and
- How Setting Up Minimum Order Quantity Boosts Sales Volume & Revenue.
4 Reasons Why You Should Setup Minimum Order Quantity On Your WooCommerce Store.
Just by incorporating the idea of “minimums” or let’s say “minimum order quantity” you’re actually going to increase the overall value of your business.
Every single e-Commerce store owner out there might have this thought in the back of their mind like “If we set up minimum order quantity on our store, then people won’t buy. They’ll leave our store”.
You can say that’s a solid case. It can happen, but what you can do is when people choose to opt for it, they’ll be able to get good discounts which incentivizes them to purchase more.
I also understand that your business has a lot of overheads but, you have to be able to push your wholesale customers to order at least a minimum standard volume when they make a purchase from your WooCommerce store.
This makes it easier for your business to have cashflow and they’ll benefit from bulk order discounts that you can give them eventually.
Setting Up Minimum Order Quantity Is Good For Your Business.
I know you may have hindrances towards setting up minimum order quantity for your WooCommerce store as a Wholesale retailer but it can actually help you.
Just by setting up minimum order quantity from your customer you’re setting the expectations right from the start. The whole point of having a “Wholesale” customer is that they order in bulk and not in smaller units. Make sure you do this and both your customer and your business will do well.
If you do this, your business will survive last long term and you’ll know if your customers will come for the long term or not. You as a wholesale retailer will set up expectations for your customers that they order in bulk and they come back to order every month from you.
Doing this will ensure that there is enough product that’s going out the doors of your business and you aren’t wasting any time with smaller orders.
Let’s get to the 4 Reasons Why You Should Set Up Minimum Order Quantity On Your WooCommerce Store.
- To sell enough products in one order.
- To boost sales volume on that particular product line.
- To increase the average order value.
- To make sure all the wholesale customers are meeting the agreed MOQ or minimums.
To learn more about it in detail, head over to the blog post on their website.
So the whole gist of it is that, you’re trying to set up minimums or minimum order quantity to be profitable in business that both your customers and you understand. It’s meant to be beneficial in the long term. – They come back to you for business and you stay in business because they are your customers who order products at a wholesale rate.
How Setting Up Minimum Order Quantity Boosts Sales Volume & Revenue.
As I mentioned earlier that setting a minimum order quantity for your wholesale business is a great way to ensure that your customers are meeting your expectations, let’s take a look at how it can boost your sales volume and revenue.
I know you may be looking for a formula to this but there’s instant an exact formula to this. All you need to do is to consider the average size of the order and consider the actual average order size you want it to be. So this changes your shift from what it actually is to what you want it to be.
This will help you dictate the average profit you’re going to make per order item in the order queue.
The average profit per item can be determined when you make the increase in the purchase order value from your customers.
I know you may not have data or a history of numbers to run yourself by so that you can make an informed decision. But you can still make a 15-25% increase in the revenue projections and see where your business stands.
If you have some history of numbers you can run it by then you can always compare the increase in the business growth of your wholesale retail business. This can help you tell all the future projections you can expect – because you should aim to make increases in certain percentages.
One good thing about how you’re going to set the minimum order quantity is that you’ll set a minimum on the backend of your store and you’ll mention that on the front end, so whenever anyone makes an order and it falls below the minimum average order quantity it will suggest them to add more to their purchase order to meet the minimum order quantities.
I feel like that would boost your sales volume and it won’t put so much pressure on your customers. Let me know what you think about this strategy.
If you’re looking to increase your revenue to a desired amount, you can see for yourself how the average cost and revenue per item is added to the cart at checkout. You can then work your way back into how it’s helping you increase your revenue.
Sometimes some of your customers will tend to order your cheapest product so that they hit your minimum order quantity limit just to fill up the limit you’ve set at the checkout. Even if that’s the case, you can still expect to hit your revenue numbers.
So I want you to expect this as the worst case scenario. There will be some people in this category who will do that.
Overall you need to ensure that you’re having a good profit after all the shipping, taxes, etc comes out of the equation. That’s how you assess if your business remains profitable because of this huge jump in the desired minimum order quantity you’ve set for your customers.
I hope you’ve gotten the idea that increasing the minimum order quantity will do better for your business by boosting sales volume thereby increasing revenue for your business but you also are aware of the small mishaps that can occur from some weird customers.
So let’s get into how we can actually go ahead and set up minimum order quantity in your WooCommerce store.
How To Actually Setup Minimum Order Quantity For Wholesale In WooCommerce Using Wholesale Suite.
By now, you’ve understood the importance of minimum order quantity for your WooCommerce store. Just because WooCommerce has the feature to customize all the settings in the backend, let’s take advantage of it and get goin.
Before you get going, there’s one thing you should know – configuring these minimum order quantities isn’t that easy because if you login to the backend you won’t see that option. It will require you to mess with their code to make that appear.
I know for sure it’s tough to do that on your own and even for a web developer to mess with the code.
Here’s what happens normally, there’s a section called the functions.php file on the woocommerce themes section. You can choose to add a custom code that will allow you to set the minimum purchase value. But to do that you’ll need to know how to do it or hire a web developer.
But here’s a great alternative, get Wholesale Suite Plugin.
It’s going to sort out all these issues that you see on your store. It will allow you to add the minimum order amount value so you can change them anytime you want.
After you’ve installed it by going to Plugins > Add New, Activate It. Then you need to go to WooCommerce > Settings page on the backend of your WordPress website’s dashboard and click on the Wholesale Prices tab.
Take a look at the image below. Can you see the section where you can enter the minimum order quantity? There’s where you can make the changes.
As you can see above, you can go ahead and set the minimum order quantity and minimum order subtotals.
What this means is that no customer can make a purchase that’s lesser than the values or amount you’ve mentioned here.
Now when you change the default values and save the changes these values will start to take effect on your cart checkout page where it will take into consideration the minimum order quantity and the subtotal. Please take into consideration the average price of your products when you consider the minimum order quantity.
Please note that the value that you set here on this page, doesn’t affect your business in any level. Meaning you’re not losing money because you’ve set these minimum limit for customers to purchase. Run the numbers and get the stats before you jump into making this decision to change your minimum order limit.
I can also understand that there are some special customers who you’d like to service differently. So, I’ve got you covered on this, you can set different subtotals and different minimum order quantities for your special customers on the backend.
All you need to do is set a different user roles assigning them to sign-in and checkout with that usernames. This way you’ll be able to offer them discounts and also have your minimum order quantities or amounts set and they also go through the same process as the others but the user roles or logins are differently set for them in the backend.
Take a look at the image below you’ll understand what I’m saying.
Make sure you enter the user roles and also setting their unique minimum order quantities and subtotals that’s specific for those specific customers and let them know about their unique process.
Communication is key here otherwise it would disrupt the process.
So when you’ve completed all the user roles for all your special customers make sure to save the settings and test it out with those user roles so that their process flow is seamless and effortless.
Make sure you map it out correctly based on the numbers as that’s what’s expected to work out in the end and also the tech side is handled while ensuring your numbers and their unique minimums and subtotals are in place.
Double check it before you hand it over to them for purchase.
So if you want to double your revenue and boost sales you’ll have to consider minimum order quantities which include minimum order amounts and subtotals that will make sure your customers purchase in bulk and not order smaller amounts.
Failing to set up minimum amounts would cause you to lose a lot of money which you could be making as a wholesale retailer. Don’t lose out on the money making opportunity that you can be bringing in to your business by setting this minimum limit.
Your wholesale business will reach a new level of cash influx and what better way to get this done on the backend of your woocommerce store than by using Wholesale suite plugin.
Click here to grab wholesale suite plugin and make the necessary changes as mentioned in the procedure above.