Tiered prices are quantity-based prices or volume discounts: the more your customers buy, the lower the unit price becomes.
Example: 1–4 units cost €10 each, 5 or more units cost €9 each, and 10 or more units cost €8 each.
You can set individual tiered prices for each item and manage the different price tiers directly in your product properties.
Tiered prices apply to manually created orders. Once you enter the quantity and add the product to the order, the appropriate price is applied automatically.

Tiered pricing rewards larger order quantities with a lower unit price. This is a great way to encourage customers to buy more items at once, increase your average order value, and make selling in higher volumes more predictable.
Start with your cost price and determine the margin you want to maintain, even for larger volumes. Then, deduct potential bulk discounts, shipping and payment fees, and any other costs—and verify that each price tier remains profitable.