The Psychology of Discounts: How Smart Pricing Sparks Sales and Loyalty
Life becomes dull when there’s no spark or excitement,isnt it? So, to bring the sparks in our day
to day life we prefer to do some shopping spree and if we get discounts on it then the situation
will be like “এক ঢি ল এ দ'ই পা খি মারা”.
We as customers always prefer to get the most value or win-win situation for our hard earned
money while shopping. Sellers want to satisfy the buyers by selling unique items but their main
focus behind this is how to generate more profit,and thats why you need to have a চমৎকার idea
about how to discount the price smartly.
The main motive of discount is to attract customers by providing exciting offers, the pricing is a
promotional pricing strategy that lowers a product or service's initial cost in order to increase
traffic, move inventory, and boost sales.
Discounting strategies provide a sense of urgency that could lead to more sales. Businesses
frequently provide discounts for holidays, large purchases, and card payments. Discounts impact
on customers mind and create brand value. It actually plays with customers mind and its our
human nature that we just gets excited hearing the word “offer/sale/discount” and we feel an
adrenaline rush এই স'েযাগ হাতছাড়া করা উ চি ত নয় , ডি সকাউ; বা ছা ড়ে র লা= ভনীয় অফার দ= খে B= তারা
নি জে দে র সামলা তে পা রে ন না . But but but frequent discounts decrease a brand value cause সারা বছর
এক দা= কা নে ডি সকাউ; থাক লে আমরা পাFা দ= ই না, so discounts attract people on seasonal sales or
exclusive promotional events .
Discounts plays a great role in managing inventory stocks, old and slow products can be cleared
out and this will create more space for new products while giving offers.
Discounts are highly impactful if it is done exclusively for loyal customers cause hehe we are
fond of ত= লা মাথায় ত= ল দ= ওয়া. Customers most of the time stick with a specific shop because
there’s a good relationship,loyalty traits and main thing trust.
The discount strategy contributes to a long term business goal which improves brand
value,sales,gain trust and build a loyal customers base. Discount is completely a mind game term
which trigger FOMO,urgency and push a customers brain to take quick purchase decisions
before the offer ends. It plays with customers emotions that they feel like they will miss a great
deal if they dont avail the offer, or they think they are gaining more for less.
There are several type of discounts and among them the top listed are:
1. Seasonal sales like black friday,11:11,Cyber monday,Cristmass sale or Eid sales.
2.Volume sales like bulk selling items,it benefits b2b firms where customers purchase bulk items
with great savings.
3.Stock clearance sale mostly given at the end of a year or before new products
arrives.
4. Customers get more benefited in this offer .
Discounts and offers work best mostly for retailers as they most of the time give clearance sale
to clear their inventory and by doing so, they can clear out extra stock items.
One efficient way to expand your e-commerce customer base and boost conversion rates is to
use a discount pricing strategy. By offering discounts, you may increase sales, create a sense of
urgency, and encourage loyalty. But not all examples of discounts are the same. However, it is
clear that the significance of discounts in business cannot be overstated.
