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Discounts. 10 Common Types for Dropshipping Businesses
People don't need the best toothbrush. They need a bright smile. Promotions and discounts seem to be the easiest and cheapest way to keep customers interested and loyal. And no wonder: the value of a product bought at a discount is much higher. Discounts, even if not for long, make the customer happier.
How do you sell effectively without driving customers away with annoying advertising? How to increase dropshipping revenue by increasing the lifetime value of each customer and the average order value? How can a dropshipper differentiate his business by selling a standard product in a standard market at a standard price? TONOP software helps you to analyse market trends. Based on their experience and the experience of partners and customers, the specialists at TON OP doo ltd offer their proven promotional tactics, including discount policies.
How do you sell effectively without driving customers away with annoying advertising? How to increase dropshipping revenue by increasing the lifetime value of each customer and the average order value? How can a dropshipper differentiate his business by selling a standard product in a standard market at a standard price? TONOP software helps you to analyse market trends. Based on their experience and the experience of partners and customers, the specialists at TON OP doo ltd offer their proven promotional tactics, including discount policies.
1. Buy one, get one free
Dropshipping is profitable if: you have the 'right' suppliers, you sell the 'right' goods and you promote your business in the 'right' way. On the TON OP platform you will find suppliers and quality goods, and the right discount system will increase your profits and influence your sales.
The BOGO (Buy One Get One) discount encourages the customer to buy two products instead of one. As part of the promotion, the customer gets one of the products for free. The merchant's goal is to increase the size of the order and influence sales. This type of discount is particularly suitable for promoting fast-moving items.
2. Percentage of sales
Dropshipping allows you to sell products online from a supplier's warehouse without having to buy the products in advance. A percentage sale is a discount on an item as a percentage of its price. Companies sometimes set a percentage sale based on certain criteria. This type of discount is most effective in loyalty programmes. Some companies offer cash back or a percentage discount on a future purchase in exchange for posting recommendations or reviews.
3. Early payment discounts
Dropshipping profit is the difference between the original cost of an item set by the supplier and the price at which it was sold.
When a customer pays for a product or service before the due date, they are rewarded with a discount. This encourages customers to pay more quickly and helps the company manage its cash flow.
Dropshipping is profitable if: you have the 'right' suppliers, you sell the 'right' goods and you promote your business in the 'right' way. On the TON OP platform you will find suppliers and quality goods, and the right discount system will increase your profits and influence your sales.
The BOGO (Buy One Get One) discount encourages the customer to buy two products instead of one. As part of the promotion, the customer gets one of the products for free. The merchant's goal is to increase the size of the order and influence sales. This type of discount is particularly suitable for promoting fast-moving items.
2. Percentage of sales
Dropshipping allows you to sell products online from a supplier's warehouse without having to buy the products in advance. A percentage sale is a discount on an item as a percentage of its price. Companies sometimes set a percentage sale based on certain criteria. This type of discount is most effective in loyalty programmes. Some companies offer cash back or a percentage discount on a future purchase in exchange for posting recommendations or reviews.
3. Early payment discounts
Dropshipping profit is the difference between the original cost of an item set by the supplier and the price at which it was sold.
When a customer pays for a product or service before the due date, they are rewarded with a discount. This encourages customers to pay more quickly and helps the company manage its cash flow.
4. Dropshipping surplus goods
A dropshipper can organise a sale from the supplier's warehouse, which in turn reduces the price of obsolete or surplus goods. In this case, it is necessary to carefully monitor the quantity of goods required and to agree in advance with the supplier on a system of notification of stock levels in the supplier's warehouse. Consider the possibility of blocking the order of such goods even before payment.
Quality goods and a competitive offer will definitely attract traffic to the site, activate the growth of sales.
A dropshipper can organise a sale from the supplier's warehouse, which in turn reduces the price of obsolete or surplus goods. In this case, it is necessary to carefully monitor the quantity of goods required and to agree in advance with the supplier on a system of notification of stock levels in the supplier's warehouse. Consider the possibility of blocking the order of such goods even before payment.
Quality goods and a competitive offer will definitely attract traffic to the site, activate the growth of sales.
5. Discounts in the form of free shipping
Dropshipper's business directly depends on the quality of delivered goods and how the supplier builds the delivery process. Discounts in the form of free shipping affect the average cheque and encourage the customer to buy more products. To reduce the cost of delivery, a dropshipper sets a minimum order value or quantity threshold.
6. Wholesale discounts
A dropshipper is always looking for a balance between price and quality by selling goods from different companies and brands. Wholesalers usually offer discounts based on the number of units in the order. For example, if you buy 10,000 units, you may receive a 10% discount on the total price of the units. LLC's online platform allows you to pick up interesting and 'hot' offers from suppliers and distributors.
7. Seasonal discounts
There is no one-size-fits-all solution to the seasonal sales slump. Discounts on non-seasonal items work well during slow periods. Dropshipping sites often use seasonal sales in the post-holiday period, when suppliers clear out excess stock from warehouses and sell goods at reduced prices.
8. Loyalty programme discounts
Loyalty programmes encourage customers by rewarding them with additional discounts and points, using the FOMO (fear of missing out) effect. FOMO discounts in a dropshipping business help to adapt sales strategies and test new ideas.
9. Discounts for email subscriptions
The buyer is offered a discounted product in exchange for specific information: email address, phone number. This method works well with abandoned baskets on sellers' websites. According to various sources, the average abandonment rate in e-commerce is between 70% and 80%.
10. Trade-in
An online dropshipper may offer discounts if you trade in an old product for a new version. For example, a company selling smartphones may offer customers a $100 discount on a new model. This rebate model is quite difficult to execute and is usually offered by the supplier of the goods, who takes the 'exchange fund' for themselves.
Aggressive discounting, like over-optimisation, can sooner or later lead to an unexpected loss of revenue. On the other hand, not discounting enough can encourage your customers to look for goods from your competitors.
Dropshipper's business directly depends on the quality of delivered goods and how the supplier builds the delivery process. Discounts in the form of free shipping affect the average cheque and encourage the customer to buy more products. To reduce the cost of delivery, a dropshipper sets a minimum order value or quantity threshold.
6. Wholesale discounts
A dropshipper is always looking for a balance between price and quality by selling goods from different companies and brands. Wholesalers usually offer discounts based on the number of units in the order. For example, if you buy 10,000 units, you may receive a 10% discount on the total price of the units. LLC's online platform allows you to pick up interesting and 'hot' offers from suppliers and distributors.
7. Seasonal discounts
There is no one-size-fits-all solution to the seasonal sales slump. Discounts on non-seasonal items work well during slow periods. Dropshipping sites often use seasonal sales in the post-holiday period, when suppliers clear out excess stock from warehouses and sell goods at reduced prices.
8. Loyalty programme discounts
Loyalty programmes encourage customers by rewarding them with additional discounts and points, using the FOMO (fear of missing out) effect. FOMO discounts in a dropshipping business help to adapt sales strategies and test new ideas.
9. Discounts for email subscriptions
The buyer is offered a discounted product in exchange for specific information: email address, phone number. This method works well with abandoned baskets on sellers' websites. According to various sources, the average abandonment rate in e-commerce is between 70% and 80%.
10. Trade-in
An online dropshipper may offer discounts if you trade in an old product for a new version. For example, a company selling smartphones may offer customers a $100 discount on a new model. This rebate model is quite difficult to execute and is usually offered by the supplier of the goods, who takes the 'exchange fund' for themselves.
Aggressive discounting, like over-optimisation, can sooner or later lead to an unexpected loss of revenue. On the other hand, not discounting enough can encourage your customers to look for goods from your competitors.
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TON OP DOO LTD
Address: 8 BORBA STR., PLOVDIV, BULGARIA, 4021
Mail: info@tonop.bg
Address: 8 BORBA STR., PLOVDIV, BULGARIA, 4021
Mail: info@tonop.bg