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What is Discounting Costing You?

Everyone likes a bargain. Why pay full price for something when you can receive a discount? This is why discount websites are gaining popularity. They’re great for the consumer, but are they good for the merchant and small business owner? As a small business owner, have you worked out the real cost of discounting and the impact it will have on your business? Daily deal websites charge a fee of approximately 15-20% of the sale price and stipulate that the offer presented must be at least 50% off the original sale price.

It’s common to think that by offering a discount you’ll attract new customers. That may be true, but have you considered the bigger picture and the long-term effects that discounting will have on your business? Low prices may drive sales for a limited time, but they don’t help build customer loyalty and discounts cost money.

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Are you Paying for Discounting?

With such fierce competition and all consumers looking to bag a bargain, it’s no wonder they turn to discount websites such as GrabOne, Scoopon and Groupon for offers. Why wouldn’t you?

Daily deal websites charge a fee of approximately 15-20% of the sale price and stipulate that the offer presented must be at least 50% off the original sale price. 

It’s easy to think that by offering a discount you’ll attract new customers and they’ll leave happy because they haven’t paid full price, but discounts cost money, and not just to your bottom line.  

For example:

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