Consumers can easily be attracted to a deal – discounts and sale. This is a strategy worth integrating in your business. But to take your strategy to the next level, you must consider how your customers view discounts and offers from a higher level. Basically, you must understand how giving discounts and going on sale actually brings more money.
Discounts create happiness and this leads to customer’s boost in oxytocin levels. This in turn can create a positive association with your brand when customers recall it later, and will prefer to buy from you to elicit happiness.
Consumers trust that any discount offered by a business is a legitimate reduction of the original price but make sure that you still earn profit from your sold items. Basically, just reduce your markup price.
Discounts and sale creates a sense of urgency that entice shoppers to purchase sooner. Based on the idea of scarcity, consumers understand that there aren’t always discounts available to help them save money.
Leverage discount and sales so that you can sell more items and earn more money.
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