All of us have experienced the disappointment when we are told that we overpaid for an article which could have been bought for much less. In today’s world there is always a price war between online websites competing for the market share in the industry. Saving even a little money on our daily shopping gives us immense satisfaction. This additional savings can be used to buy the gaming console on which you had your eyes on.
· Seasonal Sale: Like your offline stores, the online marketplaces also offer seasonal and festive month discounts, which could be with an aim to clear stocks of the previous seasons or increase the sales and customer satisfaction providing the goods at rock bottom prices. The web stores have already understood that during festivities like Christmas or Diwali people tend to do more expenditure and good discounts can lead to higher sales.
Many a time prices are slashed by half in monsoon or summer sales to attract customers. Patience however would be the key to get benefit of the sale, as waiting for a sale to happen to buy your dream product could be quite frustrating.
· Coupons: Coupons can be a great way to save additional money on already discounted items. These are promotional schemes, which are launched to increase the customer base and keeping previous customers satisfied. It generally gives a rebate on the marked up/ discounted price of the product and many a times a coupon might give you a freebie. Generally, coupons are shared on online coupon websites like Coupondunia or couponraja which post coupon codes for free. These coupons are tried and verified by the customers or are officially uploaded on these websites.
Sometimes it has also been observed that special coupons are posted only for user of the coupon hosting website which is mutually beneficial for both the websites.
Although many times, coupons are also published in newspapers and magazines, coupon sites still remain the main source.
· Cashbacks: Cashbacks are either deducted from marked price of the particular product, or are added to your debit/ credit cards after you have made the transaction. Some cashbacks increase your virtual currencies, which can be used in future purchases. Most people do not prefer the latter type of cashbacks, if they do not intend to make another purchase from that particular website. Another form of cashbacks could be some reward points of banks or airlines (airmiles) or any third party retailer. Some of the top cashback site’s serving Indian market’s are Khojdeal and Cashkaro.
· Marketing Strategies: On many occasions like launch of a product, Pre-orders and anniversary sales etc. many promotion schemes are launched. These can range from normal discounts and deals to rebates. Generally, freebies are given with the pre-order of a product (Like a VR gear free with a mobile). This helps the company to create an awareness about its product through word of mouth and thus increasing its sale. An early bird purchase of passes could be another example of it. Through these strategies, the manufacturers are able to understand the expected demand of the commodity in early stage of the launch.