We will discuss one of the most frequently asked questions: “How often should our eCommerce business run a sale?” This question brings up a lot to consider, including type of sale, amount of discount, and timing or frequency of sales.
There are different strategies you can implement, depending on what your brand offers. This all comes down to the discount amount, timing, consistency, as well as the consideration of bundling or using the free item tactic.
On this episode:
- Why the answer to this question will vary from one business to another.
- How discounts can impact sales.
- The decrease in conversion rates without discounts.
- Particular importance for “unbrandable” businesses.
- How often you should have sales.
- How sales help target previous customers to return.
- Why timing with sales can make or break the campaign.
- Sales percentages that are popular for luxury and non-luxury brands.
- The psychological component of discounts.
- How the bundle/free item tactic works.
- When it works to have larger discounts less often (twice per year).
- A recommendation to have a sale every 6-8 weeks.
- Buy 2, Get 1 Free and other bundle incentives.
- Quantity upsells for individual products.
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