Thus, let’s explore how to improve sales by means of the most popular online discount techniques:
1. Limited Time Discounts. This kind of discount is offered for a limited period of time. The time limitation is supposed to be an incentive for buyers – they understand that they will not be able to take advantage of this offer over a certain period of time. For example, let’s assume there is 30% discount offered on new kitchen furniture. Potential customers realize the value of a deal when the sum of a discount equals to the cost of a good gas stove.
2. Daylong Discount. This is a limited time discount as well, but still, we would like to give accent to it. Daylong discount is one of the most efficient online shopping “stimulators” for customer, because it’s about “Only today!” deals.
3. Single Product Discount. The meaning of this kind of deal is quite clear – a discount can be applied only to a particular product. Single product discount can be time limited as well, i.e. this is a combined discount. This is one of the most often used supermarkets techniques: every week a new product is sold at a discount.
4. Pre-discount. This is a discount applied in case of pre-ordering a new product. In other words, there may be a release date and one can pre-order a product at a pre-discount without waiting for the release actually. For example, it is possible to pre-order a book at discount before it is available in a book store.
5. Discount on Orders over Certain Sum. This is a one more popular retail sales technique. Want to get a discount? Place a minimum amount order!
6. Wholesale Discount. This deal applies more to distribution. There is a supplier or a manufacturer on the one side, and there are also distributors or bulk consumers on the other side. Discount is applied when a bulk order is placed. Very often the following scheme is applied: the more you buy, the bigger is a discount on the whole order.
7. Progressive Discount. This is a combined discount which includes several elements. The meaning of this discount is very clear: one gets a bigger discount after having made orders for specific amount. The more you buy, the bigger is a discount.
9. Personal Discount. This is probably the most popular discount: discount coupon or a flyer. You can receive it via email or in the street, or to cut it from a newspaper, etc.
10. Holiday Discount. Have you ever received sms from some kind of a restaurant with an offer to celebrate your birthday there and get a discount? This is what we call a holiday discount.
11. Discounts on Online Orders. Compare the prices the same seller offers in a store and in an online shop. Most likely you will be able to find cheap online deals and discover the prices in online shops are more reasonable. I guess no need to explain why there is a difference in prices.
12. Melting Discount. It works as follows: there is no fixed discount, but the amount of discount decreases as the deadline approaches. 20%, 10 %, 5% …
13. Ad Hoc Discount. For example, you are in a shop and consider buying a winter jacket. You ask a seller if a discount is available and the answer may be “Yes, but only in case you buy it right now”. Quite reasonable, isn’t it?
14. Discounts for Certain People Categories. For example, discounts in pharmacies for the retirees, or discounts in cinemas for the students.
15. Affiliate Discount. This is a network marketing trick. You attract a partner who would recommend you or distribute your products, and in return you offer him or her to become a buyer on favorable terms (to buy at reduced rates).
16. Group Discount. Going to a museum in a group you get a group discount on tickets.
17. Cross Discount. You offer a client to buy one or several products at a base price, and additional product is offered at a discount.
18. Prompt Payment Discount. This kind of discount is very often applied in b2b sales: the faster the payment is made, the bigger is a discount.
19. First Order Discount. This technique is very often used by online shops when each newly registered user is offered a discount on first order.
20. Membership Discount. The perfect example of where this kind of discount may be applied is a fitness club or a swimming pool. One-time visit will cost you more than if you would buy a gym membership.
21. Additional (bonus) Discount. For example, let’s assume you have got a discount card from a shop, but you are still offered bonus discount in addition to the one you already have got. However, the discount may be not provided on certain product groups.
22. Off-season Discount. This discount is offered on seasonal product groups, for example such as outerwear. Did you notice furs are much cheaper in summer? Very often the goods that were not sold out in a season are offered at an off-season discount.
24. Trade-in Discount. It works as follows: you return an older version of a product to a seller and buy a new one with good discount (e.g. car dealerships).
25. Confidential Discount. There is a certain price stated on paper, but you are given a different price which is much better.
Suggest the discounts you would add to this list in comments below.