Promotional pricing strategy for clothing store
In this article there are presented 21 variants of discounts and shares, which can be used in the shop in order to raise the level of sales.
They work perfectly, and the main thing is the desire to apply and implement correctly. Because each sphere of business has its specific features, which must be taken into consideration while choosing the best.
It is clear that not all ideas of discount marketing can be applied at the same time or immediately.
It is recommended to begin with simple, and go slowly to more advanced. Even if the clothing store makes one option of discount pricing strategy per month, then in the coming year it will have something to do and surprise the customers!
The list of promotional pricing ideas
- Eventual discount
This discount is usually applied in honor of a holiday or an important event. New Year, Birthday, opening of the store, if the clothing store offers a discount for fancy party dress for a client for her Bday, there is huge chance, that she will use it with pleasure, and buy it.
- “Melting” discounts
Usually, it is used together with a time limit. On the first day (period), the maximum discount, which decreases every day in terms of this discount marketing. For example, 50%, 40%, 30%, 20% and 10% on the last day of the promotion. In the first days of registration, the price is always lower. So, the clients, who came to the clothing store for the first time, would be in a hurry to make their shopping.
- Validity discount
This discount is set for a certain period, for example 10 days. Or Until December 31 and so on. The time limit is an incentive to make a purchase faster. In such promotional pricing strategy people understand that after a certain time, after the end of the term, it will be more expensive and preferential terms will end. Usually, the specialists recommend to offer eventual clothes for the certain dates. Evening dresses for St. Valentine’s day and so on.
- “Only today”
This discount pricing strategy is also limited in time. But it should be singled out separately because it is valid in a very short time – one day. Discount, which operates for one day, will excellently stimulate the sales.
- For one product
This discount applies strictly to a particular (specific) product. For example, only on skirts. Or only on black jeans. Also, this type of discount marketing can be combined with discounts with a limited period of validity or a limited amount of goods. Such promotional pricing strategy is suitable for the “product of the week”.
- Discount with the limited quantity of goods
This is also a combined discount. In this case, the amount of the product itself, which can be bought at a discount, is limited by the store. Only 10 blouses or only 5 pairs of shoes, and so on.
- For the achievement of the purchase amount
By such promotional pricing strategy is supposed, that the clothing store offers to buy something else to make the purchase amount XXX. Or the is a discount on the amount of XXX. In such cases, a lot of the clients are highly motivated to buy more.
- Cumulative discount
The meaning here speaks for itself. All the purchases of one client are summed up and the more purchases a person makes during the period, the more thanks to this discount marketing he gets. The clothing store can make the scale of the purchase amounts at which is given the increased discount.
- Discount on first purchase
The point is that a person needs to give a strong incentive to make a decision to buy exactly from this store and now. And the offer of a discount on the first purchase is a good excuse. The store can use the coupon or flyer to deliver the information. Such promotional pricing strategy is working in such a way: If you take out free Christmas socks, you will receive a discount for our top sales products.
- Discount on the method of payment
For example, for card payment, the discount is more than for cash. Or vice versa. It is noticed that people, paying with a credit card, spend more money than when calculating cash. And this is an excuse to make a discount when calculating the card in order to increase the amount of the check. Most probably, a woman will buy two sets of the lingerie, when she is paying with the credit card, instead of only one.
- Discount on the Internet orders
When pre-ordered from the site or in the group of the store’s social network, the discount marketing offers to use additional (special) discount. At the same time, payment can be either on-site or online. And everything can be completely the other way around.
By such promotional pricing strategy is supposed, that in the off-line store shopping center the prices are higher, so the client is stimulated to buy from the online store.
- Discount for the likes!
The clothing stores can use such a strategy: “5% for the likes”. The meaning of this – the buyer needs to go to the Facebook group of this store, click “like” and get a discount.
- Discount for a participant of the public
Another option of the Internet shop. For the owners of the clothing stores, it is recommended to have a group or public page in social networks with one-time discount. Of course, to keep the clients for the future, the quality of the products must be high.
- Discount for pre-order
Usually used when selling a product that is not yet available. For example, the discount marketing recommends the clothing stores to sell the goods of a new collection, knowing the models, but not having in stock in the store, thereby getting some money before purchasing the collection from the supplier.
- Discount by customer category
The idea is that there are defined target groups with special discounts for them. For example, “for students”, “for pensioners”, “for the best customers” and so on. Such discounts always attract attention and raise the sales.
- Discount for recommendation
Such promotional pricing strategy works when the buyer recommends the shop to his friends and brings new customers, and after this gets a discount that he can use for his purchases. This is rather effective strategy for women because usually, they share such things with their friends with pleasure.
- Discount from a friend
It looks like a discount on the first purchase, but in discount marketing, it should be separated. The idea is that the buyer of the shop can simply tell about the store, and can recommend to friends the benefit. This discount pricing strategy is when a new buyer who came on the recommendation of a friend, gets the benefit in the form of discounts from a friend.
- Discount “on request”
Often people, who buy clothes, ask for a discount from the sellers. The promotional pricing strategy recommends to prepare a small discount in advance, which can be given in such a situation, but subject to purchase right now. To be an incentive not to think or look elsewhere, but to buy here and now.
- Collected discount
The clothing store makes two discounts at once buying two things (or more). The first thing is with less profit, the second with more. Can be used with one product or with a variety of products. For example, in discount marketing, it looks like “buy a dress for … with a 10% discount and get -30% on a handkerchief”, “Buy boots with a 15% discount, get a 40% discount on shoes.”
- Discount for additional products
The customer buys at the usual price and the store’s discount pricing strategy offers additional goods, accessories, more goods, related products at a discount. In such promotional pricing strategy for two pairs of shoes can be offered a bag with a discount of -10% or any other product.
- Random Discount
“Lucky”. It’s up to the buyer’s luck. The clothing store determines different discounts and the buyer can pull out the lottery and get the discount, indicated on it.
Here is also recommended to use a cube (bone) with the discounts, which corresponds to the edge of the cube. The buyer rolls it and wins his discount.