As we all try to cope with the COVID-19 pandemic and head to the year 2021, it's important to note market trends. Gone are the days when we went to stores to find out about sales and discounts, or even coupons. We are officially in the era of e-commerce where we can easily access our favorite stores through their websites and find out about the promotions through their social media pages.
After an incredibly exhausting year, let's welcome 2021 by listing down the top sales discounts and promotions which you don't want to miss this year. But before heading to the list, let's first discuss what exactly sales promotion is all about.
Sales promotion is an attempt by businesses to accelerate the amount of sales and increase customers by offering lucrative packages, reduced prices and thereby making items and services affordable for customers.
1. Flash Sales
As humans we all experience FOMO (Fear of missing out). This is exactly what businesses manipulate through flash sales. Flash sales are intended to create urgency and hype amongst customers as they're only available for a short span of time (e.g. for an hour or two days). There's usually a countdown timer on some websites too which makes customers make purchases at a rapid pace, which fulfils the idea of sales promotion.
When you'll find these:
- Special occasions like Valentine's day, Easter, etc.
- Towards the end of a season like winter clearance flash sale, etc.
2. Buy One Get One Free (BOGO)
With the tendency to experience FOMO, we also want to buy more and pay less which is exactly what BOGO is all about. It's the type of sales promotion that allows a customer to buy one product and get one or two additional items along with it. Though the strategy varies from each business like some companies offer buy two and get one free offer which is a variation of BOGO too.
When you'll find these:
- Clearance sales to get rid of excess stock (summer clearance consisting of BOGO offer)
- Complementary items or services (salons may offer BOGO during festivities season - buy manicure service and get pedicure free)
3. Coupons and vouchers
These are by far, the most loved and popular ones amongst customers. Coupons and vouchers can help you save a lot of money when making a purchase as they offer you a discount. However, they're more effective if they come with a time frame or else customers forget about availing them. The coupon or voucher can be given to you if you're a loyal customer or received a defected product for which the business is trying to compensate for the discrepancy. Whichever is the case, coupons are a sure way to bring customers to your stores as they're able to get what they what at a lower price.
When you'll find these:
- Loyalty programs/membership
- A compensation for a complaint
- Seasonal sales
- Websites like Almond Coupons where you find all the online stores
4. Free Samples/Giveaways
Who doesn't love free items or services? So, make sure you don't miss out on this one. Generally though, only new startups offer these to attract you towards the brand and build your trust, however, it's always nice to keep free samples and try them whenever you want! Let's not ignore the importance of free samples of facial serum, masks and much more. This pocket sized goodies are always useful especially when you're travelling.
When you'll find these:
- New startups
- End of the year/mid year giveaways
5. Percentage off Sale
This is the most common one which happens throughout the year. With the intention to boost sales, most businesses end up making a profit out of these. These consist of a percentage off on some or all items, for example, flat 50% off or upto 50% off. The flat off works best as customers tend to get upset at the 'upto' off when proceeding towards checkout.
It is likely that your customer will become dissatisfied with the sale, so it is advisable to go for flat discounts. From a customer's perspective, this will save you huge chunk of your money when making the purchase, be it your dreamy Gucci bag or divine Dior perfume.
When you'll find these:
- Throughout the year (i.e. monthly, weekly)
- Seasons
- Occasions
Will These Sales Be Worth The Price?
On a practical and realistic note, it depends. Each brand will have a different calibre of sales and the products within the sale. Most brands exploit customers by putting low quality, defected products on sale which in turn, results in disappointment. Therefore, it is important not to get carried away by the glitters and gold of the terms ‘discounts' and ‘sales'.
On the bright side, some brands like 6th Street, Boutique 1, Shein, Zaful and many others have managed to maintain excellent reputation when it comes to product quality. The money spent on purchasing items on sales rarely ever leave their customers with a long face. So, make sure you carefully evaluate which brand you're going to buy and inspect the product meticulously to avoid any troubles later on.
We hope this article suited you well. Happy shopping!
