What is Multi-Tier Pricing in Retail? Explained

Multi-Tier Pricing is a pricing strategy where products or services are offered at different price points based on specific tiers or levels. Each tier may come with distinct features, qualities, or quantities, allowing customers to choose a pricing option that aligns with their preferences and needs. This strategy is often employed to cater to diverse customer segments, offering a range of choices that accommodate varying budgets or usage requirements. Multi-tier pricing can be found in various industries, from subscription-based services to product bundles, providing flexibility and appealing to a broader customer base.