Learn advanced pricing techniques—dynamic pricing, tier shifts, and value ladders—to optimise profit without alienating customers.
Pricing Is Your Most Powerful Profit Lever
Even small tweaks to pricing can have major impact on your bottom line. It’s not about raising prices—it’s about setting the right price for the right customer, at the right time.
1. Use Dynamic Price Windows
For services or products sold throughout the day or week, consider “happy hours” or off-peak discounts to boost mid-demand periods. Monitor through your POS to balance increased traffic and margin.
2. Create Tiers and Bundles
Offer product/service tiers—basic, enhanced, premium. Each should clearly stack up in value and price. This helps capture more customer segments and upsell naturally.
3. Add Anchor Prices
Place a high-end item next to your standard offer. Humans anchor on the expensive option, making the middle tier feel reasonable—a proven tactic for boosting average spend.
4. Test Price Elasticity
Raise a key item’s price by 5–10% for a week. Watch demand change in your POS dashboard. If drop is small, the increase may stay; if steep, revert.
5. Promote Price Ceilings
For high-spend services, share a price range (“Most pay $X–$Y”). This sets expectations and makes premium offers feel reasonable.
6. Automate Smart Repricing
Use your POS to adjust prices based on sales velocity—lower price if moving slowly, raise if depleting fast. Keeps offerings fresh and profitable.
Final thoughts
Pricing is a growth engine—when done right. By experimenting, monitoring, and adapting via your POS, you can find perfect pricing that keeps customers, activity, and profits growing.