Discounts are price reductions made to customers at the time
of sale without a coupon or rebate.
Discounts can be established and discontinued at any
time.
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You don’t have to spend money or subscribe to networks in
order to advertise your discounts. Discounts can be
advertised in your retail store, ecommerce website or by
using any other method.
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Discounts can take on many different forms.
These are some of the methods used to offer
discounts.
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Preferred Payment Discount:
Offer discounts to customers who pay with cash in order to
avoid paying fees on credit card transactions.
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Seasonal Discounts:
Seasonal discounts can be used to move inventory.
You can offer discounts to customers to purchase
items out of season.
For example, you can start selling winter gear in the
summer and lure customers by offering a discount to buy
before the winter season starts.
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Trade-In Credit Discount:
Trade-in credit is a form of discount that is granted for
the return of an item and the purchase of another item.
For example, trade-in of an old phone and purchasing
a newer version.
The trade-in item is something that has value and can
be resold.
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Cumulative Quantity Discount:
Cumulative quantity discount is to offer a discount to your
customer for purchasing a certain quanity of an item over a
specified period of time. For example, after
purchasing 10 items over a two week period the customer gets
a discount.
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Non-Cumulative Quantity Discount:
Non-cumulative quantity discounts are discounts offered
based the quantity ordered on a single purchase.
Consider these examples:
- Buy-One-Get-One-Free: The customer
gets one product free after purchasing another one.
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Two-For-One: The customer gets
two products for the price of one. This is another way
of saying Buy-One-Get-One-Free.
- Bring A Friend: The customer gets a
discount if they get a friend to make a purchase.
- Open An Account:
The customer gets a discount if they open an account.
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Character Based Discounts:
Discounts can also be based on customer characteristics such
as disability, student, military, age, sex, residency, etc.
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