Tier prices are specific promotional technique to provide different set of discount on products, on the bases of product’s quantity, product’s discount applied.
Magento 2 store owner , apply this promotional technique , while customers are trying to purchase bulk products, normally this promotional technique for B2B business, on the special occasion B2C also apply to atrract more customers & generate more revenue
Example :: Here different set of discount applied of product (Affirm Water Bottle) as below
Step[1] – Tier Disocunt – 1
Buy 6 For $5.95 Each and Save 15%
Step[2] – Tier Disocunt – 2
Buy 12 For $5.60 Each and Save 20%
Step[3] – Tier Disocunt – 3
Buy 24 For $5.25 Each and Save 25%
Here three set of discount apply on the bases of quantity.