WooCommerce Product Pricing for Pigee Shipping and Payments
If you have a WooCommerce store and use the Pigee Shipping & Payments plugin, you’re doing better than many online sellers. You’ve made your checkout process smoother and automated shipping. This makes it easier for customers around the world to buy from you. However, there’s an issue you might not have considered: hidden costs that reduce your profit.
Stripe processing fees, currency conversion costs, and bank charges for international payments can add up. This is why raising your WooCommerce product prices by 10% for Pigee Shipping and Payments is a smart move.
Why You Should Increase Prices by 10%
Cover Payment Processing Costs
When customers pay with Pigee Pay, their funds go through Stripe. Stripe charges a processing fee for each transaction. If the payment is in another currency, they also add an FX fee. Your bank might also charge you for international payments. These costs are common in e-commerce but shouldn’t eat into your profit. Increasing prices by 10% makes sure these charges don’t hit your wallet.
Protect Your Margins
If your store has low margins, payment fees can take away your profit. A small 10% increase ensures you stay profitable without changing each product price one by one.
Customer Perception
A small price change, like from $25.00 to $27.50, is hardly noticeable for most customers.
Extra Tips to Maximise Profitability
Monitor Fees in Pigee: Keep an eye on your Wallet and Transaction History to stay informed about fees.