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Types of Discount

Eye icon5854 Views Watch iconApril 04, 2021

1. Bundle Product Discount:

A bundled product is a package of two or more stand-alone products sold together at a discounted price. In most cases, these products are complementary units sold together to increase consumer interest and sales.

Different Examples:
  • Instead of buying just one pencil during a single purchase, Your customer can be given the option to buy a pencil, eraser, and sharpener as a bundle, making them purchase more than one product thereby increasing your average order value. Ans customer will save if we purchase these products together.
  • Instead of buying one Top, Your customer can be given the option to buy Top + Bottom + Shoe together and get a discount and maintains style.
  • Instead of buying just a Pot, Your customer can be given the option to buy a Pot + Plant + Table stand together which is commonly purchased by your customers.

2. Volume Discount:

Volume discount refers to the usage of discounted prices to purchase a particular good in a large quantity in one go. When a customer purchases a product in multiple units or a large enough quantity at once, the seller rewards the buyer by selling at a reduced price for the goods purchased.

Different Examples:
  • For a bulk purchase of Product X, a 5% discount is applied to the tier of 50-100 units. As the tier changes to 101-150 units sold, a larger discount is applied, say 10%.
  • For a bulk purchase of Product Y, $2 OFF on 50-100 units. If you purchase more like 101-150 units, $5 OFF on your product Y.

3. Wholesale/General Discount:

Wholesaling is the act of buying goods in bulk from a manufacturer at a discounted price and selling to a retailer for a higher price, for them to repackage and in turn, resell in smaller quantities at an even higher price to consumers.

It’s a B2B business strategy where businesses will buy some goods from the manufacturer at a lower price and sell the goods to the retailer at a high price.

Different Examples:
  • The T-shirt’s normal price is $10. The wholesaler can buy it at $8 cost but the minimum quantity will be 50.
  • As a normal customer, You can purchase a plastic pot at a $20 price. But if you are a wholesaler you can purchase it at $15 with a minimum quantity of 100.

4. BOGO Discount:

One of the biggest marketing ideas in recent years has been the concept of Buy One Get One. This can come in a variety of offers from buying one get one free to buy one get one 50% off.

But no matter the variety, they all do one thing very well—they drive sales.

Different Examples:
  • Vanilla cake price is $15 and Baked Flourless Cake is $25. In the BOGO discount if a user purchases both cakes together then the user has to pay only $25(Maximum price from both these products) and Vanilla cake(Another product) is totally free for him/her.
  • The jean’s price is $20. Customers can purchase two pairs of jeans at the same price of $20. One pair of jeans is totally free at the cost of the product price.

5. Cart conditional Discount

Apply a direct discount on the cart total if selected products or Collections are in/out of the cart. Merchants can set the discount with a fixed price OFF or % OFF based on the product in the cart or not in the cart.

A general discount is applied on the cart subtotal based on the condition.

Different Examples:
  • $2 OFF on the cart if X product is in the cart.
  • 5% OFF on subtotal is Y collection product is in cart.
  • $30 off on cart subtotal if the X product is not in the cart.

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