[raaman]

Discounts and promotions - are they necessary in a business? If so, how will you handle them?

[augusta]

I will Offer discounts based on the number of purchases or amount spent. customers who spend a certain amount in a month might receive a small discount, while those who spend even more might get a larger discount.

[germainebull]

Me I would offer discounts to customers who make repeat purchases. Starting from the third purchase.

[Paradise]

I'd use discounts to move slow stock, attract first time buyers, or reward loyal customers, not as a default. I would also keep them short and tied to a goal so that I don’t train people to wait for sales. Moreso, I'd always check the numbers first to make sure I'm still making profit because promotions should build value, not just cut price.

[augusta]

This should be done maybe quarterly or intermittently. It should be when you have made good amount of profit so that you can take some percentage to reward loyal customers

[Felly]

I think they help drive business for sure. When I worked in retail, I would bring up sales to customers I was helping to bring them to their attention and possibly get them to buy more. Sometimes it worked out, sometimes it didn't, but it helped that the rewards program we had was free to enroll in. Towards the end of my time though, they changed the way we were able to do discounts at store level, but I would still make exceptions on slower moving items in an attempt to get them sold or in cases of customer satisfaction.

As a customer though, sometimes I'll wait for a sale, sometimes I'll just buy the item if it's something I really want and have been waiting for. Sometimes, the sales end up getting me to spend a little more that I may not have necessarily spent otherwise.

[augusta]

Give it more to long standing customers. There's no better way to appreciate them than giving them promo code for discounts.