More than a mere longstanding human opinion, there’s ample data now confirming the importance of using discounts to attract consumers in various ways. A 2018 study revealed that discounts and coupons play an important role in the purchasing decisions of Internet users. For instance, 53.8% of Internet users in the United States consider discounts and coupons to be very important when making digital purchasing decisions, the reason why most—if not all—e-commerce platforms have taken advantage of this knowledge to push their wares to consumers. One such platform is Shopify.
You can think of this platform as an online mall, wherein many major and emerging brands open up online stores within it. Users signing up on the platform could access such stores and their offerings. It’s no wonder many businesses are now joining the train to reap the numerous benefits that e-shopping platforms like Shopify offer.
Want to learn more about how to use Shopify discounts for your business? Read on to find out how.
Types Of Shopify Discounts And How To Use Them
As that research study proves, there’s something about deals that people can’t resist. Consumers of all types love to avail of products or services at the best possible prices. Thus, if you’re an entrepreneur who offers them the opportunity to save money by giving discounts on purchases, you’ll definitely get their attention by providing such discounts on Shopify.
Don’t know where to start? There are different types of Shopify discounts you can use to attract customers to your business, some of which are listed below.
This is perhaps the most popular form of Shopify discount, which involves taking a certain percent off the price of a product or service. It could be as little as giving 5-10% discounts to serve as an incentive for buyers.
If you aim to liquidate old merchandise, you could even increase it to 20 or 25%. This will help get the products sold on time. You could also use this for multiple collections like a ‘buy two gowns and get 10% off any skirts’ type of deal. Click on your Shopify app and go to the store, then select Discounts. Select the discount type you want to create and then choose your desired percentage value on the Discount Value field.
Dollar Value Discounts
Dollar value discounts are one way retailers can maximize the power of coupons. This is a type of discount wherein the buyer has to spend a certain amount to avail of the offer. For instance, you could have a deal where buyers get USD$15 off for every USD$300 they spend in your store.
It’s an easy way to get customers to buy more because they will feel they’re cheating themselves if they don’t spend enough to qualify for the discounts. You can activate it on your Shopify app using the same method as the percentage-based discounts.
This simple strategy involves offering customers the opportunity of having their goods delivered to them free of charge. It’s a huge consideration for those who live in far-flung areas. You could specify a minimum purchase requirement to qualify for free shipping.
To create this discount on Shopify, explore the Discounts option on the admin page of your Shopify account and find the selection tagged Create Discount. Click on it, then go to Discount Type, and choose the free shipping option.
During festive seasons, people usually make more purchases. You could take advantage of this and offer discounts during popular holidays such as Christmas or Valentine’s Day. However, this type of deal happens more around Black Friday and Cyber Monday. You may also decide to give discounts to customers for special personal events like birthday celebrations or anniversaries.
People can’t resist gifts. When you offer freebies to customers who purchase a certain number of products, they will increase their order to have a chance at receiving the gift.
To create this choice, go to the Discounts section of your Shopify app and use the Buy X, Get Y option to generate the discount. You can decide to give gifts to customers who spend a particular amount of money or avail of a certain number of products.
This type is great for new brands. Most consumers might be skeptical about your products because your brand is still unknown. However, if other people tell them how great your brand is, they will change their minds about it. The word-of-mouth endorsement could snowball into attracting more customers to check out quantity discounts for Shopify, and the tactic acts as a kind of indirect promotion that could convert to more sales for your store.
This type involves packaging individual products or services and selling them as a single bundle at a discounted price. There’s an option on Shopify called Product Bundles that enables you to offer discounts to customers purchasing specific items from specific collections.
Why Should You Use Shopify Discounts?
There are many benefits of offering Shopify discounts for your business, some of which include:
Attracting More Traffic To Your Online Store
As mentioned earlier, you can use Shopify discounts to attract more customers to your business. For instance, when you offer a gift for the purchase of a product, more people will certainly visit your store because they want freebies. They’ll also spread the word to their friends and family, and in no time, you will have your store booming with customers. It’s even better if the offer lasts for only a specific period. There will be a sense of urgency to it, and consumers will certainly want to make use of the opportunity while it lasts.
Giving discounts is a powerful tool for attracting customers to any business, and more customers typically mean more sales. It could also redirect more attention to other items in your store. As consumers stop by to check out your offer, they’re also exposed to your other products, which increases the chances of getting such items sold. For instance, if you’re offering a discount on a bed frame, a customer who clicks on your store could also become curious about related products, prompting a search for them. Thus, they could end up buying other undiscounted items like a mattress, sheets, or duvets.
Getting Rid Of Old Inventory
Instead of throwing old stocks away or letting them stay in your store, you can quickly move them with discounted prices. All you have to do is display the product, cross out the original price, and list a new discounted price to attract buyers. You can create these discounts on your Shopify app, or better still, get experts in e-commerce development to help you out.
Building Brand Loyalty
One great way to make your customers loyal to your brand is by offering them discounts. People generally love being rewarded. Your customers will feel valued when you reward them for making a purchase. They’ll most likely prefer your brand to other brands. As a result, you also create a good reputation for your online business, which boosts your brand image.
Shopify discounts offer numerous ways you can use to attract customers to your business. However, before you choose a discount, it’s crucial to keep your offers simple. Avoid the temptation of giving too many deals that could lead to a loss, and don’t forget to do the necessary analysis before determining the amount of discount you want to put on offer.
Lauri Kennedy regularly publishes content about e-commerce and web development on her blog. Lauri understands that not everyone is fully adept with these topics, which is why she uses her blog to educate her readers.
During her leisure, Lauri loves to hike with her friends and family.