
This study was undertaken by analysing on-site data that revealed the average retailer could earn an extra 25 per cent in sales revenue per month by offering discount codes and vouchers.
The research shows how the majority of startup retailers and service providers within Britain begin providing discounts after two years of trading, with as many as 63 per cent wishing they’d done so sooner. Using on-site data, the team at Voucher Cloud analysed computed that an average retailer offering discounts on their products can generate an additional three-figure increase in sales per month through providing discounts and voucher codes, with the average basket size totalling £80. Following on from their research, the company interviewed 875 retail and service provider business owners from around the UK. The companies, which had to be running for at least two years prior, were asked about how discounting had impacted their business.- Wanted to attract new customers – 74 per cent
- Had to meet sales targets on a particular product / service – 61 per cent
- Wanted to reward current customers – 58 per cent
- Wanted to increase brand awareness – 50 per cent
- To coincide with/boost new product launch – 32 per cent
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