Consumers love a good deal, and few things get the heart pumping like seeing that the flat screen television you’ve been eyeing is 30% off or that a pricey shirt you love is on clearance. In fact, 126.9 million U.S. adults are projected to redeem online coupons in 2016, compared to 92.3 million in 2012. And last Thanksgiving (the official kick-off of holiday shopping season), nearly 2/3 of the top 1,000 e-retailers offered discounts.
So for retailers, offering discounts and huge sales seems like a no-brainer. Your customers are happy, your sales go up- it’s a win-win situation. Or is it?
As it turns out, discounting your e-commerce products can actually harm your business in the long term. Here’s why- and here’s what you can do to get customers to buy your products without offering a heavy discount.