A few years ago, there was a negative stigma attached to coupons and discounts. However, things have changed, and retailers are now using discounts and coupons to drive sales. Here are the common types of discount promotions to increase your sales.
The most common discounting option for online retailers is a percentage-based discount. You could use price cuts as incentives to customer retention and repeat purchases. However, it’s hard for a brand to offer 50% discount or more to clear its old inventory. All retailers should use coupons in different ways. Retailers with higher profit margin can afford to give discounts of up to 15-25% frequently. However, those with low-profit margins should provide less frequent sales promotions and smaller discounts not exceeding 10% of the product value. However, you can offer clearance discounts to get rid of excess inventory. Below are the common types of promotional discounts to … Read more