All customers want to save and therefore the rebate in retail it is one of the strategies that you should never let go because it guarantees effectiveness. Discover how to use it in this post!
It is not a secret to anyone that the majority of customers it takes into account the price factor when making their purchases and that in turn affects the decision making to choose the shop where you do it.
This is why it must be considered permanently in order to apply the right strategies in this area.
According to experts, is one of the most successful business strategies is the rebate in retaila term that can be translated as a rebate, discount or refund, but that simply means major benefits to the customer at the time of purchase.
The rebate in retail or the execution of promotions with discount, it is one of the most popular forms, and, without doubt, one of the most effective for boost sales. However, for more effective they are, the discounts can be a double-edged sword.
But before we dive into this topic it is important to understand its meaning and what are the reasons of its success in the retail market international.
What is rebate in retail?
The rebate in retail it is a marketing strategy which offers the consumers a discount after buying a product at a price set higher.
Although there are reimbursements instant are those accredited at the time of purchase and are available at some retailers, perhaps the most familiar are the refund by email.
For this type of rebate is required the customer to provide proof of purchase and then be patient for a period of time before receiving the refund of the funds paid.
For this refund completion the buyer must provide a lot of data, which represent profit for the retailer, due to that all the provided information is used to better understand shoppers and provide them with a satisfactory experience.
The demographic information of the customer is a fact very well-rated, in addition to the list of products purchased, and even the date and time that the operation was successful commercial, data that are used to retail analytics.
Reduced prices attract customers, however, run discounts wrong way might end up killing your profits or attracting the types of shoppers wrong, that is to say, those who only buy in your store when lower prices.
That is why, if you're looking to make sales in your store, it is important that you plan well your promotions and work out deals smart to fulfill your objectives.
Recommendations for the use of the rebate in retai
1. Define objectives
Implement the discounts blinds is one of the biggest mistakes you can make a retalier, so before you run a sale or offer a new promotion, it is important to ensure that you have a clearly defined purpose to do so.
It is important to determine if the rebate is looking to win new customers or build customer loyalty through rewards to the existing ones, since, based on these responses must be prepared for the offers to implement.
2. Segmenting buyers
The creation of discounts or deals based on the preferences of the clients or in the records of purchase, you can significantly increase the rate of conversions. That is why it is important to take the time needed to segment your clients database.
One way to do this is to set up profiles of the customers, to create profiles that describe the price sensitivity and the different buying habits of the customers, and use them as tools to determine the types of discounts that are most effective for each type of buyer.
To facilitate this task uses a robust system of management customers that gives you a history of what consumers have purchased. That way, you can easily see who, what and how much you have spent each buyer.
3. Take into account the margins
To ensure that you don't end up losing money with the discounts, it is very important to establish an acceptable range for each product. To do this it is important to review in detail the volumes, cost structures, among other variables, to determine that the price not just leave benefits to the end consumer.
4. Promote impulse purchases, and additional cross -
Apply the rebate in retail it can help you to attract more people to your shop, so it pays to take advantage of the increase in pedestrian traffic to increase your income through the cross-selling.
This is achieved by promoting articles related or of lower demand, together with the preferred by the buyers, and can be applied both in physical stores and online.
Conclusion
Retailers are constantly on the search for the perfect formula to increase your sales and retain customers by providing the best experience in the store, and even at the level omnicanal.
But, you don't have to lose money or cause damage to your brand when you offer a rebate, because, as noted above, a strategy of discount creative and well executed with well-defined objectives, can help you get sales and attract the correct segments of customers that your store needs.
