Discounts, Coupons, and Promotions
Discounts Coupons and Promotions
What should be discounted:
- First, the obvious – your clearance items. These are the items you need to clear out to make room for the inventory that keeps your customers coming back. This includes end of season items.
- Discounts or Coupons to introduce your products to a new audience
- Discounts or Coupons to bring in your best customers
Don’t over discount, your solid customers will start to only purchase discounted items.
Use predictive reordering so your inventory is well balanced and clearance discounts are kept to a minimum
- Target your discounts for optimal effect
- Create Packages to stimulate sales on slow movers - Bundle together slow movers with items that your customers are sure to like.
- Add Discounts to Customer Groups - This allows you to cater to your best customers
- Merchandise displays should reflect well placed items that compliment each other
- Use Multi Item Discounts to encourage larger quantity purchases
Assess the effectiveness of your discounting campaign:
- Assess which customers respond and what merchandise is being sold.
- Use the Discount Report along with the Attribute Analysis Report to gauge the success
- Use coupons to bring in customers during low sales periods
- Use the Employee Productivity Report to identify time period where a promotion would be most beneficial.