Market demands and pricing goes hand in hand. And that’s why there are price fluctuations depending on the demand to maximize the profit margin.
For instance, a woollen jacket price during summer should be different from the price of a woollen jacket in winter. In winter, the demand for woollen jackets remains higher. Therefore, the merchants have to set higher prices in winter than in summer.
This seasonal price has a quote lifetime which automatically changes after a set time period. In Magento 2, the default quote lifetime value is 30 days.
This method can also be useful when you want to run periodic offers so that the customers can avail the discount prices only for that period. After that time, the offer price does not remain valid anymore.
However, the admin can configure Magento 2 quote lifetime depending on the type of business, their products, and market demand.
The below method shows the stepwise method for the same.
Once you configure the cart quote lifetime in Magento 2 store, if a customer leaves the cart unattended, the price automatically updates after the set days in quote lifetime.
Steps to Configure Magento 2 Quote Lifetime:
- Login to Magento 2 admin panel
- Navigate to Stores > Settings > Configuration
- Under Sales, select Checkout
- Expand Shopping Cart area
- In Quote Lifetime(days), enter the days for quote lifetime based on your requirement.
- Click Save Config
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