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There are a number of major disadvantages when relying in discounts to increase sales: You risk damaging the reputation of the brand. Customers may get into a habit of ?waiting? for discounts before purchasing. You risk getting into a price war with the competition and being seen as a commodity.
What are promo codes? Promotional codes are alphanumeric strings that online stores offer to encourage purchases on their website and are typically associated with an overarching promotional marketing strategy. The discount associated with a promo code can apply to individual products or an entire order.
80% of consumers are more likely to shop from a new brand if it provides a discount coupon, and that number jumps to 89% for millennials. So, yes, in short, coupon codes are an effective marketing tactic? But there's a caveat.
80% of consumers are more likely to shop from a new brand if it provides a discount coupon, and that number jumps to 89% for millennials. So, yes, in short, coupon codes are an effective marketing tactic? But there's a caveat.
Coupons can help introduce new product lines and encourage customers to try a more profitable brand or service. Coupons can also help attract existing customers to come back to your store. The biggest con of using coupons is that they cost businesses money and may lead to lower profit for that sale.