Increase Your Profit with In-Store Promotions

Promotions can help grow your business in many unexpected ways. Never thought this would be possible? Here are just a few examples of how promotions can build your business:

  • Use promotions to attract attention and boost your brand recognition
  • Stand out against your competitors by giving better promotions and increase your sales
  • Attract new customers while retaining existing ones with loyalty discounts
  • Use simple giveaways to gather customer data 

While giving out discounts and/or free items might seem like a loss initially, the gains are undeniable – especially with the surge in foot traffic!

Now you know how promotions and discounts can help your business but how can you narrow down which promotions your customers will enjoy? We’ve assembled a brief list on some common ones used by businesses.

TL;DR

  1. Discounted Items:
    – 50% off total bill
    – $30 discount if you spend $100 or more
  2. Flash Sale
  3.  Buy More, Save More: Buy 2 and get 20% off, buy 3 and get 30% off OR Buy 10 items for the price of
  4. Bundle Sale: Buy basket of items that include newer, popular products and poorer-selling items for a slightly discounted price than if they were sold individually
  5. Buy One, Get One Free

1. Discontinued Items 

Discounts are a common appearance in stores, and customers generally take discounts into consideration and look (or ask) for them when buying a few items to see how much they can save and what other products they can get in one purchase.

As with any other promotion, let your customers know of an end date for the promotion(s) if applicable, otherwise, your customers will think you give out promos on a regular or ongoing basis.

Example:
– 50% off total bill
– $30 discount if you spend $100 or more

2. Having A Flash Sale 

Similar to the point above, you can organize a flash sale to pique some interest. Flash sales occur for a limited period of time and are a great tactic for getting customers to buy quickly before the promo expires. By creating a sense of urgency, you’d have an opportunity to get rid of poor-selling items and clear out unused stock.

Keep in mind you should create a short duration period and generate some buzz on your social media platforms by creating bold fonts and simple graphics. Canva is a great tool to create attractive graphics. It’s even available as an app for your tablet or phone. You can also send out emails about the promo to your existing customer database from the StoreHub BackOffice.

3. Buy More, Save More

To encourage a little more spending and lure in customers, you can also try having this promotion. It works by getting shoppers to save a little when they buy a lot. You don’t need to offer huge discounts, but the right discounted price(s) can be enough to win potential customers over.

Example:
– Buy 10 items for the price of 8
– Buy 2 and get 20% off, buy 3 and get 30% off

4. Bundle Sale 

This promotion allows you to group multiple products together for one price, which can look more enticing to customers. Items in the bundles are normally sold for a lower price than if they were to be sold individually.

With the right execution, you can use bundles to sell off less popular products at their original price by packaging them with better-selling discounted items.

Example:
– Buy a basket of items that include newer, popular products and poorer-selling items for a slightly discounted price than if they were sold individually

5. Buy One, Get One Free 

No programming knowledge? It’s all good. Our website template allows you to set up your online store easily within a few minutes.

This is one of the most common promotions used by retailers and is a very sweet and irresistible deal in terms of value, especially for perishable items. You can make this promo less of a strain on your profit margins by hiking up the price slightly of the item to be purchased.

The examples above are instant, actionable steps you can take now to immediately increase your sales. While you’re at it, remember to collect sales information to get a clearer picture of how the promotion(s) you run affects your overall sales performance.

The StoreHub BackOffice provides the convenience of such reports to view total discounts made and how many times a promotion was applied.

Note that each store has different needs, so don’t be afraid to experiment with different promotion types to see what works best for you! Go forth and make your business awesome!

Find out more on how our promotion features can benefit your store by signing up for a 14-day FREE trial here!

Have questions? We’re available 7 days a week: 8:30AM10:30PM. Reach us via call +(603) 7890 2881, email at support@storehub.com or live chat on www.storehub.com.

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