Deals, discounts,offers, coupons, promos, freebies, shop for N AMOUNT pay half the N AMOUNT…theseare only few things we come across every time and each time we are on shoppingspree. But, have you ever wondered what actually are these shopping wooingterms or simply said customer luring terms? Exteriorly they look like some sortof business enhancing strategies to all of us but when we give a thought deeplythey are more than just business increasing tricks. There’s a science behinddiscounts and deals that go far beyond our imagination and to happiness anddelight of both customers and sellers this science is WIN-WIN for both of them.
Deals,coupons and other discount related offers have taken a long journey and reachednew horizons since the time Coca-Cola, for the first time introduced coupon in1887. Even Coca-Cola wouldn’t have imagined that this simple move would be the dailymarketing strategy for many businesses but it is…! Right from household itemsto luxury brands there is no business house which dares to move ahead withoutsatisfying its customers with deals, coupons, and markdowns. THANKS TO COCA-COLA. This simplemove made Coke, a household item in the US and you would be surprised to knowthat between1894-1913 there was 1 American out of 9 who received a free Coke. Andthis eventually created an awareness about Coke and the rest is history—OpenCoke-open happiness.
As said,above, every business irrespective of big or small, local or international,wholesale or retail has to rely on deals and discounts to increase sales, fetcha brand image, retain customers, enlarge customers and last but not the least-fulfilcustomers’ thirst for happiness and savings (in this lies the success of anybusiness) and this is what is happening, every business at present revolvesround some kind of discount promotion (of course it’s good for revenue). As said,these discount and deal offers are more than we think and we will say you whythey are (BACKED BY STUIDES AND RESEAERCHES).· Person who gets some kind of deal or discountexperiences 11% additional happiness than the one who doesn’t receive. · As part of one study it was foundthat people with deals and discounts has a lesser respiration rate (dropped by32%).· Heart rates lessened by 5% and sweatlevels lessened 20 times than normal. And in nutshell, people shopping using dealsand offers had more stress free life.
In additionto these they even fulfil the main dictums…they boost revenue.· shoppers shop and also save whilstbusiness men increase sales and cash upon the margins received through extrasales due to various offers. who save money and retailers who grow their sales.· Deals add repeated customers tostores. · Deals induce purchaser to make arisky purchase (buying an item even when its not of need due to deal or offerfactor). · Builds loyal customer base. · More than 50% of the shoppers arecaught up in the discount mania and complete the purchase due to saving factor.
· 91% of purchasers who redeemed dealsand other stuff preferred visiting the same seller again. · Amongst all the deals the ones thatcome with FREE tag are the most loved ones for customers.