Online shopping with extra discounts can be beneficial for both consumers and retailers. Here are some of the advantages:
For Consumers:
- Cost Savings:
- Extra discounts mean lower prices, allowing consumers to save money on their purchases.
- Increased Affordability:
- Lower prices make products more accessible, enabling a broader range of consumers to afford items they might not have considered at regular prices.
- Incentives for Repeat Business:
- Discounts, especially if offered as part of loyalty programs or to repeat customers, can encourage people to return to the same retailer for future purchases.
- Seasonal and Special Event Savings:
- Discounts during specific seasons, holidays, or special events can provide an opportunity for consumers to buy gifts or items they’ve been eyeing at a reduced cost.
- Promotion Exploration:
- Consumers might be more willing to try new products or brands if there are extra discounts, facilitating exploration and potentially leading to brand loyalty.
- Digital Coupons and Promo Codes:
- The ease of applying digital coupons or promo codes during online checkout simplifies the process of obtaining discounts.
For Retailers:
- Stimulating Sales:
- Discounts can drive sales by creating a sense of urgency and encouraging customers to make purchases.
- Clearing Inventory:
- Retailers can use extra discounts to clear out excess or seasonal inventory, making room for new products.
- Customer Acquisition:
- Offering attractive discounts can attract new customers, especially if they are searching for the best deals online.
- Marketing and Promotion:
- Discounts can be used as part of marketing strategies, attracting attention and driving traffic to the online store.
- Building Customer Relationships:
- Loyalty programs with discounts or exclusive offers can help build strong relationships with customers, increasing their likelihood of returning.
- Competitive Edge:
- In a competitive market, offering extra discounts can give a retailer a competitive edge and help them stand out among competitors.
Overall Impact:
- Economic Stimulus:
- During economic downturns, discounts can stimulate consumer spending, providing a boost to the economy.
- Customer Satisfaction:
- Providing discounts contributes to customer satisfaction, enhancing the overall shopping experience.
- Word-of-Mouth Marketing:
- Positive experiences with extra discounts can lead to word-of-mouth recommendations, further benefiting the retailer.
However, it’s important for consumers to be cautious and make informed decisions, considering factors such as the original product quality, return policies, and the overall value for money. Additionally, retailers should carefully plan and implement discount strategies to ensure they are financially sustainable and aligned with their business goals. Zalora is one such merchant that provides Zalora Coupons to benefit out of shopping online!