App Store Pricing System update: 700 new price points

Apple has announced a significant update to its App Store pricing system, introducing 700 new price points and allowing developers greater flexibility in managing prices across 45 currencies and 175 storefronts. This update, described as the biggest since the platform's launch, offers developers more granular control over pricing, with new price steps enabling a variety of price points from as low as $0.29 to as high as $10,000 for in-app purchases. Additionally, developers can now choose to lock prices in local currencies, reducing the impact of currency and tax fluctuations. This change aims to increase conversion and revenue per user by accommodating varying purchasing powers. RevenueCat, a platform supporting app subscription management, views these changes as a positive development, enabling developers to experiment with different pricing strategies and optimize revenue through its integration with analytics and marketing tools.