Promotions Engine
A sales promotion is a marketing tactic used by retailers to drive sales. It involves offering shoppers a deal that would enable them to either purchase a product for a lower price.
The percentage-off deal (e.g. “20% off” or “50% off”) is one of the most popular and effective types of promotions. An alternative to “percent-off” deals, this promotion involves discounting items by a flat dollar amount (e.g., $5 off or $20 off).
Buy One Get One (BOGO) is another common one. This promotion can be applied in two ways: There’s buy one get one free or buy one get the 2nd item % off.
Multi-buy promotions (i.e., “2 for the price of 1”) is another good option if you want to clear your inventory. But the success of multi-buys largely depends on the types of products you sell.
Multi-save promotions include offerings like:
Buy and save off the entire sale.
Spend and save off the entire sale.
Buy and save off specific items.
Spend and save off specific items.
Buy and pay a fixed price.
Conditional promotions, on the other hand, include:
Buy and get one or more items for free or on discount.
Spend and get one or more items for free or on discount.
Buy and earn loyalty.
Spend and earn loyalty.
Microtech Cloud promotions engine will enable you to increase foot traffic, boost your bottom line, and make room for new inventory.
It also enables you to try out the different promotions and decide which is ideal for a maximized profit margin.
