Have you been wondering when you hear people talk about products promos and discounts? Do you desire to take advantage of discount offers around you? This article will help you learn all you need to know about products discount, and how to take advantage of them.
What is Product Discount Offer?
A product discount offer is a temporary price reduction on a product, usually for the purpose of encouraging more patronage from existing customers, or entice new customers to patronize the business or brand, thereby stimulating more sales.
Every product or service has a price tag. The prices are fixed in such a way that allows the business or company to make profit, which is the primary aim of every business or company.
Companies mostly give price discounts on products that are not doing very well against their competitors in the market. A toothpaste manufacturing company might decide to reduce the price of their brand in the market, so as to attract the attention of customers to switch brand. This is a very common reason for price discount on products. We call this kind of discount ‘cash discount’.
There are various ways of offering discounts. One of the ways of offering discounts is by slashing the price of the products. This is done by offering discounts in percentage. You often see 10% discount on products, 20% discounts, and even the recent 50% discount offered by Jumia. Yes, the product discount is very real, and is something many shoppers look forward to. But sadly though, most people have never taken advantage of the juicy discounts flying past them in the face daily, either out of ignorance or indifference.
The aim of this article is to make you realize just how much you are missing out of discounts, and how you can benefit maximally from them.
Some companies run some kind of discount promo, offering 3 products for the price of 2. Sadly enough, some people regard such promotions as fake as misleading, because. they are yet to understand why someone will give away one product for free. To this set of people, the merchant is obviously selling at a loss. These set of people are yet to fully comprehend the intricacies inherent in business.
Merchants order for goods or products in bulk quantity. Some of these products have expiry dates. And after the merchants must have sold off part of the goods and recovered his capital, he might chose to offer some kind of discount on the remaining product if the expiry dates on the product is fast approaching.
Also, some merchants might decide to change their line of business, thereby making them to sell off their stock at give-away prices.
Some product discount also happen when merchants or companies want to reward their customers’ loyalty. For patronizing a particular brand for years, the company might decide to reward your loyalty to their brand by offering you a discount on all products you buy.
These are just a few reasons for discount. The bottom line remains that product discounts offered by companies is a way to get more patronage from customers and generate more sales for the company.
How To Benefit From Product Discount Offers
Having seen what product discount offer is, let’s explore the various ways you can benefit from it.
1. Partner with someone to buy the product. Considering the nature and price of the product, you can partner with someone to buy the product. Some companies offer special discounts when you buy a certain number of items. Some brands might ask you to buy 3 items and get 2 free. If you don’t have the money to buy the 3 items yourself, you can simply partner with someone, get the items, and share it between the both of you.
2. Save towards it. We all know that November and December is always the peak period for discounts and promos of all sorts. A friend once told me about a company that sells off their vehicles in December for a ridiculously cheap amount. On getting the information around July, I started saving towards buying that car in December. And I bought it. Some people don’t have savings, and even when they meet incredible opportunities like the one I just narrated, they find it difficult to participate and benefit from it.
3. Search for discount and promo packages online. Some big and popular e-commerce sites do run promo and discount packages from time to time. But so far, the biggest promo of this year is the Jumia 50% promo which offers to slash the price of every item you buy by 50%. This means that you can now get an item that was #10,000 for #5,000. This is not the first time Jumia will be doing this. This is perhaps one reason they are adjudged the biggest and best e-commerce platform in Nigeria.
4. Buy in bulk, and resell for a profit. If you have spare money, this is a great opportunity to buy quality items at a give-away price, resell them, and make over 100% returns in profit. Head over now to jumia and buy as much items as you can buy before the promo is over.
In conclusion, always watch out for promos and discounts offered by various brands, especially the ones you patronize. You would be doing yourself a whole lot of good by grabbing the opportunity when it comes your way. Do well to go through our blog where we’ve published helpful and updated articles on business, marketing, entrepreneurship, and many more. Here is a masterpiece on how to revive your dying business and make it generate profit for you.Also look for recommended books on our shop, buy them, and read them.Remember, readers are leaders. Cheers.