Tremendous Ways to Offer Discounts Without Affecting Your Pocket!

To save money and escape the risk of failure, you should offer discounts on combo products. You must have seen that most eCommerce sellers offer discounts on buy 1 get 1 product. This tactic can help your products to entice more customers and scale up your overall business as well. You can even offer special discounts on bulk purchasing as well. The goal should be to motivate your customers to come online and buy your products in the first place as well. Focus on discounting strategy by enabling customers to sell in an effective way without affecting your budget. You can offer one high price item with one low-price item to attract more potential customers. However, before offering such discounts on several products, you need to double-check whether all the products are available or not. Here you may require inventory management software such as eVanik OWS to manage your inventory automatically.

Bundle pricing is also one of the remarkable ways to offer discounts without hurting your pocket. It is a strategy by which you can offer various specific products in one bundle and sell them at a specific price instead of implementing individual discounts on each item. Offering discounts on bundle products can also help increase your AOV (Average Order Value) by minimizing the per-unit price of one or more products within the bundle. As you know, the festive season is on the way, and marketplaces are already running various sales to attract customers. In this scenario, it can be an excellent way to implement bundle pricing strategies significantly during the festive season. For instance, if you are selling online beauty products, you can offer a bundle of skincare products, including moisturizers, facewash, and serum altogether. In such a way, you can upscale your sales without losing a penny.

To ensure each purchase is complete, this strategy can work tremendously. In this process, you need to offer some discount on shipping or on the product itself at the final checkout process. In this discount strategy, you can offer your seller a significant discount on their credit card, debit card, and even on UPI payments. Ideally, sellers offer discounts on the payment modes, not specifically on the products. This tactic can help you to attract your existing customers as well as your potential customers also. Another approach you can apply is to offer discounts on the minimum order amount. For example, you can offer your customer a Flat 20% discount on purchasing products on a specific price. Undoubtedly, this discount strategy can help you achieve multiple business goals by adding an enormous number of potential customers and encouraging them to repurchase.

Such a type of discount inspires customers toward impulse buying. Limited period offers have the potential to create a hustle in the customers’ minds to make most of such offers within the time. You launch a new product during the flash sale and offer attractive discounts on them for a limited period. It can be 2 hours, 24 hours, and a maximum of 2 days. During the flash sale, you can consistently offer discounts on products with lower sales and no sales. It can also prove to be a compelling way of clearing out your stocks. If you have ever experienced a stock situation, you need to worry about it because such practice can let you sell unwanted items by generating potential revenue. On the other hand, to manage your inventories effectively, you get along with any available inventory management software. It can send inventory reports from various marketplaces and regulate your inventory effectively.

Offering discounts to new customers can help you attain new and potential customers. You must have seen several offers for first-time customers on various marketplaces. Most sellers implement such tactics to intensify their customer base. In this process, you can offer the actual price of the product by representing it as a discounted price. On the other hand, you can offer them a welcome gift by making their first purchase. This procedure can save you a lot of money and add more value to your business. Understand the fact that customers always want to get some special offer before trying a new product. It provides them the satisfaction that they are getting a product at the lowest price, so it doesn’t matter whether the product is good or not. If they experience that they have bought a good product at a discounted price, they can become your loyal customer.

Hence, these excellent ways of offering discounts can do wonders for your eCommerce business without hurting your pocket. Such discount offers can let your business thrive and add an enormous number of customers to your business.