The shady economics of ‘buy one, get one free’ deals

Let’s imagine you’re hankering for a treat and you are offered a choice: A Hershey’s Kiss for $0.01, or a much higher-quality Lindt truffle for $0.15. Which would you go with? In his book Predictably Irrational, behavioral economist Dan Ariely ran this exact experimentand found that 73% of folks chose the pricier Lindt. But when he changed the pric...

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The Shady Economics Of ‘buy One, Get One Free’ Deals

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thehustle.co

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Phrasing Your Discount Offer For Maximum Results - Marketing …

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Oct 24, 2012 · Buy one, get one free; Which works better? If you’ve never tested anything but “50% off,” you’ll never know. One report in Time Moneyland reveals some interesting …

marketingwords.com

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Customer Doesn’t Understand What Buy One Get One Free Means

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It’s buy one get one free yes, but if u ended up returning just one it’s splits the price. So if full price is $4 and u get the second technically at $0 then the return value of each is $2. Michael’s does …

reddit.com

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Couponing 101: Everything You Need To Know About “Buy One, Get One …

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Everybody has at one point or the other seen it at a store or when shopping online: the small coupon code box that tends to shows up in your shopping cart or when at the checkout. They might call it discount code, gift coupon, promo code, gift code offer code, buy one get one free, “buy one, get one for 50% off” or other variations.

dontgetserious.com

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8 Types Of Sales Promotions In Retail (and How To Implement Them)

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Jun 17, 2022 · In the email below, you’ll see that they’re running two types of offers: “Buy 2 and get 1 50% off” and “Buy 3 to get the 1 item free.”. 5. Multi-save and conditional promotions. …

lightspeedhq.com

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Buy One, Get One Free: The Marketing Strategy To Boost Sales

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If you sell that for a 50% discount, you’ll end with $2.50 in profit ($10 * 50% = $5 minus $2.50). Now instead of a 50% discount, the promotion is to buy one of Product A and get another one …

magesolution.com

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42 Amazing Discounts And Promotion Strategies | Triggerbee

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Feb 14, 2024 · Tiered discounts. If your go-to discount strategy is made up of flat offers like “10% off” or “15% off”, you’re going to love this strategy. Tiered discounts are one of the best …

triggerbee.com

FAQs about The shady economics of ‘buy one, get one free’ deals Coupon?

What is a buy one get one 50 off deal?

A Buy One Get One 50 Off deal will attract those hesitating to try it. With BOGO Half-Off deals, customers will buy more of your legendary product, love it, and come back again soon. Barnes & Noble’s BOGO 50% Off offer for kids books Pairing products from different categories is an excellent deal for seasonal products and targeted audiences. ...

What if you sell a product for a 50% discount?

Consider this example for a moment: Take Product A which sells for $10 and has a $2.50 cost. If you sell that for a 50% discount, you’ll end with $2.50 in profit ($10 * 50% = $5 minus $2.50). Now instead of a 50% discount, the promotion is to buy one of Product A and get another one for free. ...

Is a $50 off offer better than a 15% off offer?

For a more expensive product, perhaps a piece of exercise equipment that normally sells for $350, I would predict that an offer of $50 off would do better than an offer of 15% off – even though the 15% offer is actually slightly better. The $50 offer sounds like a substantial amount of money. ...

Does a 50% off offer increase sales?

Without going into too much detail for my client, the 50% off offer produced a sales uplift of 266% compared to its ‘buy one, get one free’ counterpart. Let that sink in: 266% more sales than the almost mathematically identical offer. ...

What is a 50% off coupon?

Offers like 50% or 20% off are increasingly popular and successful options. They’re used for specific products or product lines as well as store-wide offers. 50% off discounts have been proven to encourage sales with an impressive 8.6% conversion rate. They’re also preferred by a high 74% of online coupon users! ...

Should you offer a buy one get one free deal?

Offering limited-time, almost-too-good-to-be-true sales is one way they can get you to buy now, using the logic that you’re saving money. Items are often over-priced, as it is, and over-stock needs to be eliminated. You may notice that only certain brands are included in buy one, get one free deals. These are often cases of excess inventory. ...