2.1. Discount strategies
Your discount strategy should be both appealing and strategic, catering to what your customers value most. Popular approaches include:
Percentage-off discounts: A straightforward percentage off (e.g., 15% off, like in the example below from Lululemon) is a classic, and it works well for most products. It’s particularly effective for higher-priced items, where the savings feel more substantial. However, be mindful of your margins—calculate how deep you can discount without hurting your profitability.
Lululemon 15% off discount
BOGO (buy one, get one) deals: BOGO deals are highly effective for driving volume. These work especially well for consumable goods or items that customers may want in multiples. They also help you move inventory quickly, particularly for products that you want to clear out.
Flash sales: These short, intense periods mobile number list with name in india where specific items are heavily discounted can create a sense of urgency that drives impulse buys. These are particularly effective when combined with countdown timers that remind shoppers the clock is ticking.
Tiered discounts: Encourage larger purchases by offering discounts that increase with the amount spent (e.g., 10% off $50, 15% off $100, 20% off $200). Check out the example below from ZooShoo to see a tiered discount in action.
ZooShoo Black Friday popup with tiered discount
2.2. Bundling products
By grouping related or complementary items together and selling them at a discounted rate, you can offer more value to your customers while increasing your average order value.
one that hasn’t moved as quickly. This not only boosts the perceived value of the bundle but also helps you clear out older inventory.
You can also create bundles around a theme, such as a “Winter Essentials” pack or a “Gamer’s Delight” bundle. Themed bundles can attract specific customer segments who are looking for a cohesive set of products.
For example, PlayStation often offers Black Friday bundles that include a console, a popular game, and additional accessories like extra controllers or a subscription to their online services.
