37 Reasons for Discounts
Discounts are more than just slashing prices; they’re strategic tools to boost your earnings. But remember: if they’re denting your profits, reconsider them.
A discount should never be random. It should have a clear purpose. Otherwise, it’s no different from plucking your base price from thin air.
1. HOLIDAY DISCOUNTS
- Common holidays: Women’s Day/March 8, New Year’s
- Made-up holidays: Earth Day
- Personal celebrations: Customer’s birthday or your company’s special day
2. WEEKDAY DISCOUNTS
- Discounts on a specific day of the week
- One-day or one-week special offers
- “Today-only” discount on select items
3. LIMITED TIME DISCOUNTS
- Offers that decrease as a deadline approaches
4. PRODUCT DISCOUNTS
- Discounts on specific products or collections
- Special rates for seasonal items or services
- Offers on past-season collections
5. SURPRISE DISCOUNTS
- Rewards for the first or last customer of the day
- Special prices for every 10th or 1,000th customer
6. UPSELLS
- Reduced prices on accessories
- Discounts after hitting a purchase threshold
- Free shipping after spending a set amount
- Gift cards for significant purchases and more
7. GROUP DISCOUNTS
- Personalized offers
- Special rates for seniors, students, or moms
- Discounts via promo codes or from partner collaborations
- And several other unique group-based offers!
8. ACTION-BASED DISCOUNTS
- Discounts for engaging on social media or referring friends
- Trade-in offers
- Special rates available via coupons
9. FAST ACTION DISCOUNTS
- Offers for making swift decisions, from quick payments to signing contracts promptly
In conclusion, if you’re considering offering a discount, ensure it has a solid foundation. Time it right, make it appealing, and always keep an eye on the bottom line. While discounts can drive sales, it’s the value of your product or service that truly matters.
