App Store to Allow Prices from 29 Cents to $10K

Apple is adding 700 price points and new pricing tools to its App Store. 

With the updated pricing system, developers will be able to choose from a total of 900 price points — nearly 10 times the number available now — that range from 29 cents to $10,000, Apple said in a Tuesday (Dec. 6) press release. 

In addition, new pricing tools will help developers set prices per App Store country or region and manage foreign exchange rates. 

“These newly announced tools, which will begin rolling out today and continue through 2023, will create even more flexibility for developers to price their products while staying approachable to the hundreds of millions of users Apple serves worldwide, and in turn help developers continue to thrive on the App Store,” Apple said.

The new pricing enhancements are available for apps offering auto-renewable subscriptions starting Tuesday. The feature will be added for all other apps and in-app purchases in spring 2023, according to the press release. 

Among the new price points, 600 will be available to choose from, while 100 higher price points will be offered only on request, the release said. 

Other new capabilities that are to be offered to developers include leveraging pricing conventions that begin with two repeating digits (such as 110,000 won) and incorporating rounded price endings (such as $1.00), according to the release. 

In addition, developers will be able to choose a local storefront they know best as the basis for automatically generating prices across the other 175 storefronts and 44 currencies offered in the App Store, per the release. 

PYMNTS research has found that 67% of all consumers want a super app to manage their digital activities. “The Connected Consumer In The Digital Economy” also found that 69% of all consumers now bank and transact using their financial institutions’ mobile app.