This block adjusts the SYMSON price such that it ends in the decimals indicated by the user. This means: the SYMSON price is rounded up or down to the closest price that ends in the decimals indicated by user.
One tool for your whole company. Free for teams to try.
This block adjusts the SYMSON price such that it ends in the decimals indicated by the user. This means: the SYMSON price is rounded up or down to the closest price that ends in the decimals indicated by user.
Rounding to Value: Users can specify any digit and '0'-'9' to specify a particular digit, up to 2 digits.
Rounding Limit Value: The decimals from which the rounding up starts. Apply VAT: If true, the VAT percentage needs to be supplied as an input.
When price rounding is added to a price strategy, it ensures that your resulting price into a format that customers are familiar with and encourages them to buy without hesitation or confusion
If you are pricing across regions, instead of displaying the price as converted into the local currency, you can use this feature to round off to the nearest whole number to make things easier for customers.
You can use various price endings like .99 or 0.50 instead of a round number in discounts. This provides the feeling that this price is lower and therefore a better deal than the rounded up version.
For example, a café may round the price of a coffee drink to a whole euro amount, such as €2.00 or €3.00, instead of a more precise decimal value. This reduces the need for small changes and facilitates faster transactions, especially in cash-based transactions. SYMSON’s price engine can automatically apply this rule to price-lists
For instance, when selling products internationally, companies may round prices to the nearest currency denomination. If a product's price is 49.95 in the local currency, it may be rounded to 50 or a similar rounded value for simplicity and consistency across various markets. SYMSON can maintain this consistency automatically without manual intervention.
For example, a clothing retailer might price a T-shirt at €19.99 instead of €20.00. This psychological pricing strategy makes the price appear lower to customers while still maintaining a reasonable profit margin. It creates the perception of a good deal and can increase customer appeal. SYMSON can apply this rule automatically without manual intervention, yet attract more customers.
This block adjusts the SYMSON price such that it ends in the decimals indicated by the user. This means: the SYMSON price is rounded up or down to the closest price that ends in the decimals indicated by user.
Rounding to Value: Users can specify any digit and '0'-'9' to specify a particular digit, up to 2 digits.
Rounding Limit Value: The decimals from which the rounding up starts. Apply VAT: If true, the VAT percentage needs to be supplied as an input.
Price Rounding is the practice of rounding off prices to specific decimal points, such as 0.99, 0.50, or 0.00, is a common pricing strategy used by businesses for several reasons
WHY AND HOW TO USE PRICE ROUNDING
Consumers tend to perceive prices with specific endings, such as .99 or .50, as being significantly lower than the next whole number. Rounding off prices to even numbers, such as 0.00, can simplify transactions and reduce the need for small change. This can improve the efficiency of point-of-sale transactions and reduce potential friction points
When price rounding is added to a price strategy, it ensures that your resulting price into a format that customers are familiar with and encourages them to buy without hesitation or confusion
If you are pricing across regions, instead of displaying the price as converted into the local currency, you can use this feature to round off to the nearest whole number to make things easier for customers.
One tool for your whole company. Free for teams to try.
Price Rounding is the practice of rounding off prices to specific decimal points, such as 0.99, 0.50, or 0.00, is a common pricing strategy used by businesses for several reasons
WHY AND HOW TO USE PRICE ROUNDING
Consumers tend to perceive prices with specific endings, such as .99 or .50, as being significantly lower than the next whole number. Rounding off prices to even numbers, such as 0.00, can simplify transactions and reduce the need for small change. This can improve the efficiency of point-of-sale transactions and reduce potential friction points
SYMSON’s versatile pricing engine allows you to add Price Rounding as a business rule with other pricing strategies and/or across different product groups.
Price Rounding for a Cafe
For example, a café may round the price of a coffee drink to a whole euro amount, such as €2.00 or €3.00, instead of a more precise decimal value. This reduces the need for small changes and facilitates faster transactions, especially in cash-based transactions. SYMSON’s price engine can automatically apply this rule to price-lists
Price Rounding for an E-commerce Store
For instance, when selling products internationally, companies may round prices to the nearest currency denomination. If a product's price is 49.95 in the local currency, it may be rounded to 50 or a similar rounded value for simplicity and consistency across various markets. SYMSON can maintain this consistency automatically without manual intervention.
Price Rounding for a Retail Store
For example, a clothing retailer might price a T-shirt at €19.99 instead of €20.00. This psychological pricing strategy makes the price appear lower to customers while still maintaining a reasonable profit margin. It creates the perception of a good deal and can increase customer appeal. SYMSON can apply this rule automatically without manual intervention, yet attract more customers.
This block adjusts the SYMSON price such that it ends in the decimals indicated by the user. This means: the SYMSON price is rounded up or down to the closest price that ends in the decimals indicated by user.
Rounding to Value: Users can specify any digit and '0'-'9' to specify a particular digit, up to 2 digits.
Rounding Limit Value: The decimals from which the rounding up starts. Apply VAT: If true, the VAT percentage needs to be supplied as an input.
When price rounding is added to a price strategy, it ensures that your resulting price into a format that customers are familiar with and encourages them to buy without hesitation or confusion
If you are pricing across regions, instead of displaying the price as converted into the local currency, you can use this feature to round off to the nearest whole number to make things easier for customers.
You can use various price endings like .99 or 0.50 instead of a round number in discounts. This provides the feeling that this price is lower and therefore a better deal than the rounded up version.
For example, a café may round the price of a coffee drink to a whole euro amount, such as €2.00 or €3.00, instead of a more precise decimal value. This reduces the need for small changes and facilitates faster transactions, especially in cash-based transactions. SYMSON’s price engine can automatically apply this rule to price-lists
For instance, when selling products internationally, companies may round prices to the nearest currency denomination. If a product's price is 49.95 in the local currency, it may be rounded to 50 or a similar rounded value for simplicity and consistency across various markets. SYMSON can maintain this consistency automatically without manual intervention.
For example, a clothing retailer might price a T-shirt at €19.99 instead of €20.00. This psychological pricing strategy makes the price appear lower to customers while still maintaining a reasonable profit margin. It creates the perception of a good deal and can increase customer appeal. SYMSON can apply this rule automatically without manual intervention, yet attract more customers.
