Offering discounts is one of the most effective ways of quickly drawing customers into your store to make purchases. Not only do discounts provide great benefits to your shoppers by reducing their purchasing cost, but they offer numerous benefits to the business as well. Some of those benefits include an increase in revenue, improved positive image and reputation, and the potential to bring massive business success. However, it is important to know when and how to dish out the discounts to ensure you don’t end up going on losses instead of making money. Here are some of the reasons why you should offer discounts to your customers.
Attracts new clients
Not only does giving discounts help to retain current customers, but it also plays a major role in attracting new customers thereby promoting the growth of your business. Therefore, it is important to communicate the discount duration to encourage more customers to come in during the period when the discount is valid to take a look at some of the products that you offer. This will probably lead to an increase in consumer traffic which will require you to allocate more resources such as human personnel to attend to the surge in customers.
Increases your sales revenue
Offering discounts, no matter how small, even as little as 10% off Overstock coupon codes results in increased sales. Interestingly, this increase in sales is not usually only limited to the items that are being discounted upon. Rather, it is attributed to the sale of other items in the store as well. Discounts on products usually purpose to attract buyers to your store who will then take notice of the other products that you offer. This increases the chances of buying such products, especially those that are complementary or supplementary to the discounted products.
Create room in your storage area
Giving discounts on items enables you to clear out overstocked items or those that are nearing their expiry dates. This creates space for other items that are in demand at the moment while ensuring you don’t incur losses in the process. By giving discounts, you increase the chances of selling items that have overstayed in the stock to give room for newer products. In the case of physical stores, moving discounted items to the front of the store enables customers to quickly take note of them and get encouraged to make purchases. This helps you to clear out such stock as quickly as possible.
Giving discounts on products is one of the surest ways of maintaining clients, clearing out outdated products, improving sales and creating a positive public image. Also, it is useful for the introduction of new products into the market to your customers. It is a good way of informing customers about the new product that you are adding to your product line. Therefore, you should consider using discounts today, even as little as 10% off Overstock coupon codes to fuel your business to grow today.