Percent Off vs. Dollar Discounts: The Psychology of Promotions

It doesn’t matter how great an offer is if customers don’t use it. In order to entice consumers to use coupons or discounts, marketers need to create promotions that will appeal to the consumer and persuade them to buy. There are a number of marketing techniques … See more

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Customers Don't Understand How 50% Off Works : …

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Customers don't understand how 50% off works Medium I work in a department store. Every now and then we have crazy promotions on already discounted items. Yesterday, we had a …

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Leveraging The Psychology Of Discounts To Make More Money

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Apr 9, 2024 · A $35 pair of sunglasses, marked down from $50. Buy one shirt for $60, get the second for 50% off. If you selected B, congratulations—you’ve successfully maneuvered …

volusion.com

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The Psychology Of A Discount - Simon Data

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For instance, "Save $50" can be less persuasive than "Don't miss out on a $50 discount." Scarcity and urgency: A psychological cousin to loss aversion! Creating a sense of scarcity or urgency …

simondata.com

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Why Flat 50% OFF Could Be Hurting Your Sales? - YouTube

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Customers love feeling like they're getting something extra , not just savi... Flat discounts might look appealing, but they often miss the mark with customers.

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50% Off: Why That Deal Isn’t As Good As You Think - WSJ

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The retail industry is undergoing another major shift -- to e-commerce. How did we get here? Photo: Associated Press

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Something Doesn’t Add Up - The Economist

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Jun 30, 2012 · The main reason is that most people are useless at fractions. Consumers often struggle to realise, for example, that a 50% increase in quantity is the same as a 33% discount …

economist.com

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The 6 Types Of Promotions: BOGO Vs Half Off Vs Conditional

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Test which one works better on your customers and roll with that. 3. BOGO. Now for the trusty By One Get One Free or Buy One Get One Half Price. 66% of shoppers say that they prefer …

uniqodo.com

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Some People Just Don’t Understand That “getting 50%” Off ... - Reddit

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Business, Economics, and Finance. GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. Crypto

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Wait, 50% Off Isn't The Same Thing As Half Off? : R ... - Reddit

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Wait, 50% off isn't the same thing as half off? This actually happened. So, a little back story; I work at a certain former Limited Brands store that happened to run a store wide 50% off sale …

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85% Of Products Fail When Companies Don’t Talk To …

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Sep 21, 2021 · Instead, they end up making product decisions in a vacuum, which often leads to products that end up failing. “Something crazy like 85% of new products in the U.S. fail and …

forbes.com

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Why Do So Many People Seem To Think 50% Off Is A Good Offer?

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I’ve been getting a lot of these lowballs lately, more than ever before. I don’t get the logic. They can’t think that 50-60%is a reasonable offer. I’ve taken one or two 50% offers before and they …

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FAQs about Percent Off vs. Dollar Discounts: The Psychology of Promotions Coupon?

Is a 50 off coupon a good deal?

And yet, the $50 off coupon is of a higher perceived value for most consumers because 50 is a larger number than 15 and because the offer itself doesn’t require buyers to do complex math. Instead, customers can immediately see what their discount will be and the impact of the promotion. ...

Should you offer a discount on a product over $100?

However, similar to our $350 couch example, the opposite can be true about a promotion on a product over $100. For example, comparing a 25% discount to a $30 discount on a $150 product – I would predict that the $30 discount will perform better, even though the actual savings is $7.50 less. ...

Should you offer discounts without considering customer behavior?

But offering discounts to remain competitive without considering customer behavior, as well as the effect on your business, will only set you up for diminished returns. To take your strategy to the next level, you must consider how your customers view discounts and offers from a higher level. ...

How do you prevent customers from only buying with a discount?

To help prevent customers from only purchasing with a discount, it’s recommended that you be strategic with the type and timing of your discount campaigns. In a general sense, the success of discounts relies on one common theme: shoppers don’t like to do math. ...

Should you offer discounts to customers who don't pay full price?

This ensures you don’t lose out on customers who would have happily paid full price, or provide discounts to shoppers who have no intention to purchase, thereby risking brand value degradation and price sensitivity. Your discounts should also be adjusted for both new and existing customers. ...

Should you give customers a discount?

Giving people a discount might just be the thing to draw them in and become your customer. And new customers mean new opportunities for cross-sells and upsells, meaning more revenue in the long run as well. Discounts are not only a way to acquire new customers, but they’re also a way to show your gratitude to your existing customers. ...