Why you Should Offer Discounts?

 

Here are the Main reasons why small business owners should not be afraid of offering discounts:

• Increased Traffic Offering discounts for a limited time will attract customers into your store and most likely draw them into buying these items right away. Make sure to advertise your sale clearly, emphasizing the discount rates you will be offering and the specific period that your items will be on sale. Also anticipate the increased traffic and schedule more staff in your store during the discount period and ensure great customer service.
• Increased Sales Increased traffic usually comes with increased sales. Drawing customers inside your store and influencing them to buy is not only confined to items on sale but also to regular-priced items. Shoppers are likely to walk around your store and see other items that may not be discounted but are willing to buy those because they have already saved on other items on sale.
• Sales Targets Are Met Most businesses have weekly, monthly, quarterly, and yearly sales targets. Given the seasonal fluctuations in consumer buying behavior, you can curb lean seasons by offering discounts. This way, you are able to meet your goals within every period regardless of your forecasts show.
• Stronger Client Relationships Giving your customers great value for good quality products can greatly improve their loyalty to your store. This is especially true for first time buyers who were influenced to try your products because of your sale offer. Once consumers have tested your products, this can lead to repeat business and also generate positive word of mouth.
• Monetized Inventory Discounting items allows you to dispose of old inventory and even items that you don’t plan on selling anymore. Place these items in front of your store to make them more visible to your customers and offer them at a bigger discount. Providing a short term incentive to your customers will not hurt your bottom line. In fact, these occasional discounts can help strengthen your customer loyalty and widen your market.

As long as you offer high quality products and provide great customer service, you can be assured that your business will go a long way.