Promotional Discount Strategies
In the traditional retail market, stimulating sales involves various discount promotions, whether through holiday specials or clearance sales. Merchants typically use a variety of price reductions to encourage customers to make impulse purchases. In the e-commerce world, where direct customer interaction is not feasible, these diverse promotional discounts become even more crucial.
Why do eShop need promotional discounts?
Promotional discounts are paramount for sales performance. They not only serve as a means to attract customers but also increase sales volume, enhance brand awareness, and promote business growth. In the e-commerce domain, they are particularly crucial as the inability to interact directly with products makes discount strategies the link between consumers and products. Various promotional tactics can attract and retain customers, instilling stronger loyalty and trust in the brand.
1. Attracting Customers
Promotional activities can capture consumers’ attention and stimulate their desire to make a purchase. Discounts, coupons, freebies, or special rewards can attract potential customers.
2. Increasing Sales
Promotional activities typically drive sales in the short term. For example, limited-time offers or promotions can increase transaction frequency and order value.
3. Enhancing Brand Exposure
Promotional activities attract attention from media and consumers, enhancing brand exposure and word-of-mouth spread.
4. Fostering Customer Loyalty
Regular promotional events can encourage repeat purchases from existing customers, strengthening their loyalty to the brand.
5. Clearing Old Inventory
Clearance promotions help manage excess stock, free up funds, and reduce the risk of inventory backlog.
Use Cases
New Customer First Order Discount
When a new customer visits your website for the first time, they may not yet have trust in your brand. Therefore, offering a discount or unique incentive for their first purchase is an excellent way to motivate new customers to complete their initial order. For example, new customers can enjoy a 10% discount or a free gift on their first order. This can attract them to make their first transaction while building initial trust in the brand.
Threshold/Quantity-Based Discounts with Free Shipping
This promotion strategy combines two types of incentives, such as getting a discount and free shipping for purchasing a certain amount or quantity of items. For instance, buying over 1000 units can entitle customers to a 15% discount and free shipping. This encourages customers to increase their order amount or quantity to enjoy additional discounts and the benefit of free shipping.
Shopping Vouchers and Membership Points Program
Shopping vouchers and membership points programs are effective ways to attract customers for repeat visits. For example, providing existing customers with shopping vouchers that grant them a 20% discount on their next purchase can encourage repeat business. Additionally, implementing a membership points program allows customers to accumulate points for more benefits and rewards, enhancing customer loyalty and repeat purchase rates.
These promotional discount strategies play a crucial role in the e-commerce domain. They can attract customers, stimulate purchasing behavior, and enhance customer loyalty to the brand. By leveraging these strategies, it’s possible to effectively increase sales and attract more customers.
Chapter 5: Achieving Swift Checkout
We've Launched a New Feature!
The Sales Lifecycle is committed to helping merchants achieve a profitable equation when using the eShop system. By integrating multiple intricate pathways into a unified, efficient process, we significantly enhance operational efficiency and user convenience, making it easier for merchants to realize revenue growth.
