A lot of people expand the value of their money these days by using discount coupons. Somehow, you may have used these types of coupons at some point in your life and felt good for getting the best deal. When you avail for this online like the 2018 working coupons for Myntra, you simply need to enter the discount code on a certain field upon check out of the item you are buying. By doing, a certain amount will be deducted from its original retail price.
Do you know that discount coupons are not just beneficial to customers but work to the advantage of the retailers as well? For one, it is simple to implement. Majority of e-commerce platforms are capable of using discount coupons right out of the box. If it’s not included on your e-commerce platform, you can always get affordable plugins that will add such functionality.
Discount coupons are also easy to monitor. Since you, as the retailer is the one making the code, you can easily check who used the code upon purchase. Discount coupons will also increase conversions. Obviously, any of your prospects who find out that your product is more affordable than your competitors will surely patronize you than anyone else. Hence, as long as the discount is running, you can expect more prospects to enter your customer pool.
However, discount coupons are not without flaws. Sometimes, it can be hard to monitor a coupon that is not personalized. The subscriber who has the coupon may have given it to someone else. Of course, the order value of your product will be reduced and this is an obvious disadvantage of discount coupons. Most of the time, it only fosters a non-loyal business. Meaning, the people who bought your products with discount coupons will less likely buy your items again without any discount.
In E-commerce, there are 3 types of coupons that are often sought for:
- Money percentage discount
This is most commonly used. You see this as “15% off, 50% off, etc.” from the product’s usual retail price. The discount is cut off of a certain percentage of its actual cost. This works best for products that cost more than $100.
- Free shipping coupons
Some people dismiss the thought of shopping online because they think that the shipping cost will rip off their budget. In fact, according to statistics, 44% of shoppers abandon their carts because of this reason. Some retailers only restrict this promo according to the total ordered size or certain order value to compensate the shipment cost.
- Total Cart Value
This discount is only offered to a certain cart value. For instance, it can be a 20% off for any order more than $300 or get 10% for any purchase of 3 or more items.
Lastly, if you plan to use a discount coupon, make sure that you are buying from a reliable store as well. Check if they sell an authentic product to make sure that you are making the right investment. Obviously, you don’t want to get a lesser value from what you have expected.