Why You Shouldn’t Discount Your Products
Whether you own an online store, a brick-and-mortar store (or both), you’ve probably had discounts to boost your sales. And who can blame you? It’s a very effective way to increase your revenue. However, if you do it too much, you’ll do more harm than good.
That’s because if you always have your products at a discount, you’re making them less valuable. So that means when there are no sales in your store, you’ll probably see very few buying at the total price.
Just think about it: would you buy anything at a total price if you knew that there would be yet another sale in a couple of weeks? Probably not.
So instead of doing that, you should try to find another way of boosting your sales. For example, one of the easiest ways of increasing sales is by selling bundles of your products. That way, you’re not devaluing your products. Instead, you’re just giving a more cost-effective way to buy multiple products at once.
Additionally, you could also have limited free gifts with each order. And the best part? It won’t have to be a digital product. Instead, you could add an educational eBook that helps your clients with how to use your products most efficiently.
But does that mean you should never discount? No, not at all!
You can still keep discounting your products. However, try to use that at a minimum when you do that. For example, only discount a couple of times a year. For instance, you could just have a new years sale, a summer sale, and Black Friday!