Have you ever wondered why shopping discounts drive shoppers crazy? The mere sound of the words “discount”, “clearance, or “buy one get one free” is enough to get us out of our beds and running into malls. This is because when you know you can get things that you have always wanted to buy for far less than their usual prices, you do not want to let go of that chance to save. However, it is also important to realize that not all deals are “good deals” and you should not end up spending more than what you had planned to in the first place.
The truth is sales and discounts benefit both retailers and consumers. When a customer notices that there is a sales offer taken out by a company every few months, he will prefer to wait for it to strike a good bargain. It is a win-win situation for both because the retailer gets to make a decent profit on items that he would have to otherwise dispose off, in any case, to make way for new stocks. So, the buy one gets one free offer is one of the many marketing tactics which retailers use to increase their sales.
Where can you get shopping discounts and BOGO offers?
Any shopping discount is therefore an effective strategy used by store owners when their inventory moves much slower than expected. It has been seen that the daily deals, buy one get one offer or BOGO draws the biggest crowds. As many as 93% of shoppers have used this at some point of time and almost 66% have expressed their preferences for it. The reason for the popularity of this offer over the others is that on paper it appears to be offering another product completely free of cost.
If you can sign up on coupon trader websites, you will get your daily dose of such special offers. These sites work hard to bring all the latest promotional offers for their customers. Websites like Don’tPayAll are reliable and the best places to get the latest coupons for almost anything that you need. They send daily news alerts and emails to keep you abreast of what is happening in the coupons world. Whether it is discounted coupons, promo codes or BOGO offers, you will find them all under one roof. So, you do not even need to step outside your home to enjoy cost savings on any purchase.
A researcher of behavioral economics, Dan Ariely, suggests that shoppers tend to overvalue benefits of “free” as compared to high-end items being offered for discounted rates. For instance, when Amazon had started free shipping first in parts of Europe, the sales skyrocketed. Companies like Chipotle and TOMS have experienced huge success with promotions like buy one get one offers. Professor Salvi of the S.V. Institute of Management argues that shoppers participate more in the “buy one get one” deals as products appear to have no extra costs. Today, discounts are sought by companies to avoid cart abandonment by shoppers. For most shoppers, buying anything the first time around at full price without any previous experience with the product may be a challenge. But if there is a discount attached to it, no matter how meager it is, it can change the consumer’s attitude.