The Role of Discount Shopping Amid the Pandemic
There is no doubt that the COVID-19 pandemic has fundamentally changed the way businesses operate and interact with their customers. Many companies across the globe had to shut down, while some are slowly trying to rebuild and survive. In the same way, the situation has also caused a big adjustment with the way consumers behave and shop for their necessities and luxuries.
As the economic crisis continues, high stakes for businesses remain on the line, leaving business owners on the edge of analysis paralysis. In order to cope and survive, many companies started learning how to operate a little differently. In response to this change, customers also learned to think and buy differently.
Essentially, both are coming to terms when it comes to business-to-consumer relationships. As we continue to feel the impact of the challenging situation in this time of the pandemic, discount shopping plays a big part in serving the interests of both parties: the business and the consumer.
What is discount shopping?
In layman’s terms, discount shopping refers to practices where consumers look to save money on their purchases. According to InfoBloom, discount shopping can prove a great way to save money, especially when people strictly adhere to their budgets and don’t purchase things they don’t need, simply because they are marked down.
“For many, getting things at a discount is a huge incentive to make purchases, and some people will purposefully wait for stores to have sales. In tight economic times, it usually isn’t necessary to wait long, since most stores need to move merchandise and will discount it quickly if it’s not being sold. Some shoppers wait for holidays or right after holidays when sales are usually best. For example Christmas shopping the day after Thanksgiving usually means getting great deals. Smart shoppers might buy things ahead of time like wrapping paper or Christmas cards for the next year if they purchase these things right after a holiday, when they are heavily reduced in price.”
Since discount shopping was introduced online, many shoppers loved to look for daily deals and discounts to save big on their favorite items. What makes the experience even more convenient is the fact that they can do it while in their homes and make a purchase on their mobile phones or computer.
Shopping for Discounts Online
We can easily remember that discount shopping is a term that has been used for a number of different retail formats when products and services are offered at prices lower than the regular retail price. It is commonly called promotion. Discount shopping is offered by stores that can be found on group-buying shopping sites such as Groupon, Living Social, Amazon, Qupify, and a lot more.
The term promotion has been used as a blanket business term for many years. Many businesses offer discounts in the form of coupons to draw more people to their store. In business, if more people visit your store, it means there is an increase in traffic. And if there is an increase in traffic, it can lead to an increase in sales too. How so? If more consumers start to visit your store or site, there is a bigger chance that they will look around and discover your other products and services, which will become potential purchases.
Speaking of coupons—they are a visual representation of promo codes offering discounts and developing meaning and value to consumers. In marketing, a coupon is a ticket that can be redeemed to purchase an item or service at a discounted price. Much like how a free sample works, coupon also work well for encouraging first-time buyers to try your products and services, which can lead to repeat purchases.
How do coupons benefit consumers and businesses?
Remember that discount shopping through coupons is utilized as a marketing tool not only to bring attention but also to improve the bottom line (your business income after all expenses have been deducted from revenues). Coupons are there to help you leverage deals and offers for your business by attracting new audiences.
For the consumers
Consumption never stops, and a lot of people still prefer to buy products that are offered under a promotion or offered at a much lesser price. If you have become a frugal shopper, it is so easy to save cash when shopping using coupons. And if you know how and where to get coupons in huge numbers, the bigger the savings. On the other hand, if you are too embarrassed to use coupons and just throw them away instead of using them, then you do not get the discounts. Most coupons are offered for a limited time only, so you better use them before they expire.
Fun Fact: Using coupons does not make you look cheap or poor. In fact, many millionaires use coupons. Even the world’s richest men—Warren Buffet and Bill Gates—have been spotted using coupons.
Coupons offer immediate value and savings. More importantly, the promotion or discount lasts for days, weeks, or even a month. So, if you do not have the time to go out to catch the limited sale, securing a coupon is what you can do.
Technology has indeed helped businesses make the most out of their marketing campaigns. But how do coupons benefit businesses?
As you can see, offering discounts to your customers in the form of coupons can increase traffic and boost your profit. In this digital era, what better way to implement coupons than doing it online?
Online discount shopping sites allow you to generate coupon codes without even having to worry about the process to succeed. As mentioned, a discount shopping site like Qupify will help you achieve a worry-free and effective marketing strategy. As the business owner, you can sit back comfortably at home and wait for your offers to get sold at a faster time.
Since many consumers are motivated to spend on products and services at discounts, offering online coupons will drive them to your store. By helping people discover great deals without going out of their homes, the convenient process saves them time and money. As you continue to draw in more people to visit your site to buy what they need, they will discover your other products and services too—those that are not offered at discounted prices. In addition, word-of-mouth recommendations will also help develop a positive image by boosting brand awareness. In the process, it can help your business gain more loyal customers and generate bigger sales without spending extra bucks on different marketing campaigns. So when a coupon drives traffic to your store, your customers may then opt to buy your other products and services not under any promotion.
What’s more? Coupon offers are easier to track. With a good marketing database, you can count the number of people who redeem a particular offer, real-time. So for business owners, it is important to understand the fundamental methods on how online coupons work. But because of several discount shopping sites that are ready to help promote your business on a much bigger scale and platform, the process becomes easier to digest.
Discount shopping vs. traditional shopping
Compared to traditional shopping, online discount shopping has made the buying experience easier and safer, especially in the middle of this pandemic. But does the modern way of selling and buying things signify the death of in-store or traditional shopping? No.
Although traditional shopping can be time-consuming for people who have not made the decision what to buy before coming to the store, there are still people who prefer visiting the site to experience the product or item first before confirming to pay. In the case of shoes and gadgets, or luxury products like jewelry and cars, many would still stick to the traditional mode of shopping. And while older people are more likely to prefer traditional shopping, we cannot discount the fact that online shopping provides a greater comfort factor and extra convenience, transforming the way buyers behave and interact with sellers. In addition, online discount shopping allows you to grab a great deal without having to be physically present at the store.
The impact of online discount shopping doesn’t necessarily mean an end to traditional shopping. After all, shopping is a social activity many people enjoy, regardless if it’s online or in-store. So considering both online and traditional selling, promotions like coupons can still be successfully implemented with sufficient knowledge and help from professionals.
And with the way coupons serve both the interest of consumers and businesses, more people are falling in love with how fast and easy online shopping is. The more coupons, the bigger the savings it is for the consumers. The more consumers who purchase coupons online, the bigger exposure and profit it is for businesses.
In an unforeseen crisis like the one we continue to experience today, businesses and consumers around the world are adopting new habits and behaviors to live a happier, and enjoy a more convenient, more comfortable life. Discount shopping is a simple and easy way to save money on the grocery bill, personal hygiene, and other basic need; it is not as complicated as many would think. Nowadays people are looking at buying and selling things through a brand-new lens. It is time to push the consumers and businesses out of their normal routine.
With a good understanding of how discount shopping operates and benefits businesses and consumers, it can be a powerful tool to provide convenience and security to both parties. If you want to get more of what you want as a business owner or as a shopper without spending extra, discount shopping is what you need.