Discounts and schemes are powerful tools to attract customers and increase sales. When used wisely, they can help businesses build loyalty, clear inventory, and drive conversions. Let’s explore 10 proven discount strategies to grow your business.

1. Loyalty Member Discounts

Rewarding loyal customers builds long-term relationships. You can:

• Offer exclusive membership perks.
• Provide discounts on repeat purchases.
• Introduce tier-based rewards for top advocates.

For example, a gym can give personal training credits or special health drinks to members who bring in referrals. Loyalty programs encourage repeat purchases and word-of-mouth marketing.

2. Try Before You Buy

E-commerce brands face a major challenge: customers can’t touch or try products. This strategy helps solve that problem.

• Offer trial periods where customers pay only shipping costs.
• Provide samples before asking for full payment.
• Use this model to build trust and reduce hesitation.

For instance, online fashion stores let buyers try clothes at home before making a purchase.

3. Seasonal and Promotional Discounts

These discounts help clear old inventory and boost sales during peak shopping periods.

• Seasonal discounts: Offer discounts on winter clothes before summer arrives.
• Promotional discounts: Use limited-time offers to create urgency.
• Buy One, Get One Free (BOGO): Encourage bulk purchases by offering free items.

Big brands use holiday sales and event-based discounts to drive customer engagement.

4. Volume Discounts

Selling in bulk benefits both businesses and buyers.

• Offer better prices for large orders.
• Use multi-buy offers like “Buy 10, Pay for 5.”
• Target B2B customers who purchase in high volumes.

For example, office supply companies provide discounts on bulk paper purchases, increasing sales and customer loyalty.

5. First-Time Shopper and Early Bird Discounts

These two strategies attract new buyers and promote new products.

• First-time shopper discounts: Offer a special deal to encourage first purchases.
• Early bird discounts: Provide exclusive discounts to customers who buy early.

E-commerce platforms frequently offer pre-order discounts, ensuring early traction for new products.

6. Flash Sales

Flash sales create urgency and excitement, leading to quick purchases.

• Offer time-sensitive discounts.
• Limit product quantity to increase demand.
• Use countdown timers to trigger FOMO (Fear of Missing Out).

Amazon and Flipkart leverage flash sales around holidays like Independence Day, driving massive sales within hours.

7. Discounts for Special Groups

Targeted discounts build goodwill and brand loyalty. Offer year-round discounts to:

• Military personnel
• Students
• Seniors
• Differently-abled individuals

For example, educational platforms provide special pricing for students to make learning more accessible.

8. Store Credit or Subscription Discounts

Rather than reducing product prices, offer store credit to encourage repeat purchases.

• Provide a 5% discount on future purchases.
• Give store credit instead of cashback.
• Offer subscription discounts for long-term customer engagement.

This strategy increases return visits and customer retention.

9. Social Media Discounts

Social media promotions boost engagement and sales.

• Offer exclusive discounts to followers.
• Run contests and giveaways.
• Provide free shipping for online purchases.

Many brands partner with influencers and social media platforms to distribute special discount codes, increasing brand awareness.

10. Bundled Discounts

Instead of lowering the price of one product, bundle products together to increase sales.

• Offer a discount on a set of products rather than a single item.
• Provide free services or add-ons with major purchases.
• Use this strategy to increase the perceived value of products.

For example, a salon may offer a free hair wash with every haircut, enhancing customer satisfaction.

Conclusion

Discounts and schemes are essential for driving sales, building loyalty, and staying competitive. However, always ensure that discounts don’t impact profitability. Use these strategies smartly to grow your business while maintaining healthy margins.

Key Takeaways

• Discounts attract customers and drive sales.
• Use schemes strategically to clear inventory and acquire new buyers.
• Implementing targeted discount plans helps build customer loyalty and engagement.