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The Value of Offering Discounts - But Don’t Give Away the Store

Updated: Mar 18, 2021

Everyone loves a good deal, right?

The statistics speak for themselves:

66% of consumers will only shop with a discount or will look for a discount before shopping.

77% say discounts influence where they shop.

48% say discounts speed up their decision-making process.

And the most staggering is:

80% are inclined to make a first-time purchase with a new brand if they found an offer or discount.

Given the overwhelming evidence that discounts influence both new and repeat consumer purchasing habits, it makes good business sense to start offering discounts at your business. But there are so many types of offers to choose from: coupons, cashback, BOGO offers, etc. that it can be overwhelming to choose one.

As a business owner, how do you know which is the best type of discount to give?

Of course, you want to give a discount that incentivizes your customers to spend more and makes them feel like they got a great deal, without compromising too much of your profit. It has been proven that consumers will spend 30-40% more if they know they have a discount. In restaurants that translates into a couple of extra drinks or an additional dessert, which is “gravy” on their tab.

Also, you want to make it easy for customers to redeem the discount. With card-linked offer technology, once a consumer links their credit card, all they have to do is pay with that card and they automatically receive cash back. There is absolutely no change to the consumer’s buying behavior which is critical in order to achieve widespread adoption. You don’t have to print out and distribute coupons or issue specific promo codes for a seasonal offer. Rather a card-linked cashback offer is digital and can be updated easily and quickly. So consumers don’t have to worry about remembering a promo code or bringing a coupon to your business for redemption.

And of course, you want to make it easy for your staff to accept and process the discounts to avoid any confusion at the point of purchase. With card-linked offers, your employees just swipe the customer’s credit card and that’s it. No hardware, software or employee training is necessary.

It’s a no-brainer. Customers love discounts, so make it as seamless as possible to offer the discounts they crave by using card-linked offers.

댓글 1개

ella harry
ella harry
2020년 11월 21일

Discount codes are very important in different ways, they help us to buy the things that are very expensive in markets, most people waiting for sale and discount offers, and I am one of them, actually, discount codes help me to cut down my budget, I can easily take anything I need by half of the market price, I mostly buy my all stuff from because whole year they give discount codes on all their accessories, and its a best way buy, I bought my all required stuff in quarantine from there.

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