5 Discount Strategies On Thanksgiving Day

Thanksgiving is right around the corner and officially signals the start of the holiday season. There are so many discount strategies on Thanksgiving Day to help you get through all of these stresses and take control of your store. If you’re not as keen on the idea of fighting the crowds, that’s fine too because no one will be!

Discounts On Inventory, Slow Sales, Defective Goods

Discounts On Inventory, Slow Sales, Defective Goods

There is so much pressure on retailers this time of the year to remove inventory and assure that everything they sell is in top condition. Thus, many retailers have been able to accomplish this through some incredible deals.

For example, you can provide a 50% discount on your inventory by using coupon codes and promotions in physical stores. However, it is important to use these coupons and promotions sparingly.

It’s a good idea to run for one or two a week. If you run discounts too often, your customers will begin associating your products with the discounts. In addition, they will soon become frustrated with the issues from inventory that’s out of stock or otherwise problematic.

Use Discount Promotion When Customers Like, Follow, Or Share On Social Networks

Use Discount Promotion When Customers Like, Follow, Or Share On Social Networks

Social media has recently been a critical channel to run a discount strategy on Thanksgiving Day. Therefore, businesses have begun using them to track the customers’ shopping habits. This information is then applied to better understand customers and better serve them in the future.

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Because many people are on Facebook, Twitter, Linkedin, etc., you can deliver special deals right to their newsfeeds. In this case, you can offer customers a $5 voucher when they like, follow, or share your post on social networks. As a result, people will associate the offer with your brand, and you’ll be more likely to convert them.

ConnectPOS is the solution for retailers who want to leverage online and offline discount strategies.

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Use Discount Promotion Based On Order Quantity Or Value

Use Discount Promotion Based On Order Quantity Or Value

Restaurants, grocers, and even some big-box retailers usually offer deals on items based on the amount that customers purchase. These deals are becoming heavily used now as they can help build customer loyalty and improve sales in the future.

Although this may seem obvious, it’s still a great way to attract people and encourage repeat purchases. For example, you could offer 15% off on the entire order if customers buy five items, and 20% off on the total purchase if they buy ten items.

Send A Thank You Letter With A Discount Code When Referring

Send A Thank You Letter With A Discount Code When Referring

People love to refer their friends and family to places like restaurants, hotels, and stores when they’re in need. Businesses should think about what they can do to continue referral marketing. If you already have a customer who has referred a new one to your store, send a thank you letter with a discount code.

You’ll create new customers as well as better relationships with those who referred them. For instance, if someone refers a new customer, give them a $10 voucher for the next purchase.

Lucky draw program

Lucky draw program - discount strategies on thanksgiving day

Simply put, a lucky draw is a promotion using a random number generator. The idea here is to make customers think that they’re in control. The more people who enter the draw, the more likely you are to get it right.

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People love winning, especially if it’s something that they can use. So you could create a raffle draw in your brick-and-mortar store or social media platform and give your products as prizes. After all, everyone prefers to win something.

Conclusion

The days around Thanksgiving offer a lot of opportunities for retailers to make a profit. Shopkeepers can take advantage of discount strategies, competitive prices, and promotions to attract consumers. To make business work seamlessly, ConnectPOS has created a more streamlined shopping experience for your customers. Contact us right now to get the most useful advice and start your omnichannel journey!

About the Author

Jenn B.

Jenn B.

ConnectPOS Content Contributor. ConnectPOS - the POS system that interfaces directly with leading eCommerce platforms!

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