What’s the point of shopping if you have to buy products at retail price all the time? Sale season is by far the best time of year to let your money loose on everything from clothes to appliances to make up to footwear and even jewelry!
For those companies who have established retail strategies, it is imperative to have a discount strategy as well. It’s not just about clearing stock, but, it is also about the discounts making you money back. As most of us are aware, retail prices have factored in a company’s profit margin, so, when the same product is sold enthusiastically at a whopping 70% off, you have to wonder why?
Lagging businesses need discounts!
If you have a retail business that is not doing well, then you have to rethink the way in which you are selling your products. Take Amazon for instance, simply by offering a discount on all products, it has managed to become to go-to retail store online. It achieves this simply by cutting overhead costs for companies.
If you are a retailer and are looking for ways to pick business up, here are a few ways in which discounts and discount coupons can help you:
- Go beyond discounting as you USP
- Partner with someone and give them your product at a discount, set a time limit or a stock availability limit on this discount and watch as you grow!
- Track consumer behavior with codes for different outlets – social media influencers, social media bigwigs, search engine click-throughs.
- If you use tracking services then you know who your most loyal consumers are, reward them directly!
- If there are retail events, then, you can find out which channels of sales work best for you. You can then focus on other channels once you work out what’s what.
- Give consumers are reason to buy – like “first 50 buyers get 50% off” or something like that, it will boost visits and clicks like nothing else!
It might be hard to believe, but, these tips will actually work. As a loyal customer, I got a great namshi deals from here, for my loyalty!