aamorefashion blog
Services offered:
Shopify Design & Development + Email Funnels + Paid Ads via Facebook + Social Media Management
Fin and Mo is a Luxury Designer Hangbags label that is a top seller on eBay but wanted to take their business to the next level into direct selling using online digital marketing. They contacted us to help them with there overall online presence hence we built their brand new Shopify Website Development, and further did Paid Advertising for Facebook, Social Media Management, Fashion Blogging for Designer Handbags.The website’s architecture and aesthetics were created keeping in mind that it is a high-end multi-brand selling various designer products. The same approach was used to develop their social media presence and email newsletters.
What is a Discount Strategy?
A discount is a pricing strategy where a product seller sells his products at a cut price.
The discount isn’t only limited to pricing, though. Sellers offer discounts not only on the pricing but also on the products as well.
That’s why a discount is always an attractive deal both for product sellers and buyers.
Why Should You Have an E-commerce Discount Strategy?
Statistics for this year reported that during holidays in 2022, purchases increased by nearly 7%. One of the many reasons can be attributed to the discounts offered by the retailers.
The discount strategy has offered many benefits to retailers for their sales. Let’s see the reasons why you should have a discount strategy for your products.
- A fast, effective and proven method to close sales.
- Activates anchoring bias to attract and motivate customers to buy your products.
- Sell excess products that occupy your inventory.
- Increase the chance of stocking new products by liquidating the old ones.
- Chance of boosting more than 2x sales within a certain period.
- Garner more niche-related new clients.
- Turn regular customers into long-term loyal clientele.
10 Winning Discount Strategies for E-commerce Businesses
Among many discount strategies, we have shortlisted the 10 most effective strategies for discounts. Let’s have a look at them.
1. Buy one, Get One (BOGO)
Buy One Get One or BOGO is one of the most popular concepts. This isn’t directly a pricing discount and promotion strategy, but this helps augment e-commerce sales.
Under this method, retailers offer clients one additional product at a discounted price rather than a double price. For example, one product costs $100, but they can buy 2 at $150 rather than $200. As a result, buyers feel convinced of the deal.
It is an effective way for retailers to clear out their outdated or exces