Who doesn’t want to buy things at less cost? We go to the stores and end up not buying things we require, if their prices don’t go on well with our budget. We make heavy bargains just in order to get something we desire, at a lower cost. We feel proud of ourselves when we succeed in bringing home things for less money when compared to others and we do that savings’ dance once we have done the deal.
Nowadays, almost all people do their research on offers and discounts before making a purchase. They look for coupon codes and getting them applied while checking out their products, give them a sense of happiness of getting products for a cheaper price. For example, before making a purchase on clothing, it is natural for someone to search the web for coupons from a fashion store or search directly with brand as Sivvi discount codes. As per factual data, 92% of online shoppers look for coupons before making a purchase. So, it is essential for e-commerce platforms to use coupons and discounts in their businesses. Below are the 6 effective reasons of using coupons and discounts in the e-commerce world.
- Increased brand value: Using promotional offers and discounts aids in publicity of the brand and exposes your business to maximum audience. For promotion, banners and advertisements are prepared that are embedded in webpages which have high chances of being clicked. So, giving offers and discounts brings in a lot of audience to the platform and hence aids in increasing the brand value.
- Increased retention of old and loyal customers: Giving discounts to old and loyal customers helps create a sense of trust and build in the customer relationships. As per research, 61% of all consumers feel that giving special discounts to loyal customers is the most effective strategy to bring them back on the platform. The loyal customers feel valued and come back later for future purchases.
- Increased chances of conversions: Often people visit e-commerce sites for window shopping. Giving them that extra bit of discount tempts them to buy their desired product for cheap and many a times this temptation is a bit more complex for them to handle. As per research, around 67% of customers who plan for a window shopping end up with a sudden unplanned purchase, when provided with discounts and coupons. For example, think of a customer doing window shopping in an online store. He finds a product which suits all his needs but he plans to buy it sometime later when the product value goes down. Giving Rezeem promo codes tempts the customer to make the purchase immediately and this is how offers increase conversion rates.
- Aids in stock clearance: There are times when the supply becomes greater than the demand which results in stocking and piling up commodities. As a result, a lot of stock remains unsold which if remains unsold would result in considerable losses. Using offers and discounts on these items helps in avoiding such losses caused due to unsold inventory. Moreover, selling of these items at a discounted rate helps prevent losses, increase sales and also clears up space in the warehouse for more in-demand items.
- Creates a sense of urgency: Often we have seen, offers and discounts are given only up to a limited period and are not available throughout the year. There’s a reason why coupon codes have an expiry date attached in them. This is because giving a time limit tempts customers to buy commodities that they need in the present so that they do not keep it for the future. There are many cases where customers plan to buy things at a later time and those things remain in the customer’s wishlist for lifetime. Providing coupon codes and upfront discounts creates a sense of urgency and tempts customers to purchase what they need.
- Aids in achieving sales targets: Imagine an e-commerce platform showing a downfall in their sales graph for the past few months. The organisation wants to give a hike to its sales graph in order to gain momentum. Giving offers and discounts certainly helps solve this purpose.
So basically, irrespective of how an organisation is performing, it is very important to use discounts, offers and coupon codes as part of their marketing strategy. This not only retains the existing customers but also increases the brand value and brings in lots of new customers who play an important role in making the e-commerce platform, a successful one. Want to see if these really create an impact? Start your search with Babystore discount codes.