Black Friday University Week 3: Buy More, Save More
If you’d like to see how to run a ‘Spend This, Get That’ sale in your store, take a look at the webinar below!
We can’t believe it’s already Week 3 of our Black Friday University series. Time is flying! And that’s why we want to make sure you’re prepared well ahead of the biggest shopping weekend of the holiday season.
This week, we’re talking about a very popular type of sale: the Buy More, Save More sale, where you offer discounts based on how many items your customer is buying, using our Quantity Breaks app. A BMSM sale can be used in both online stores and brick and mortar locations. It’s a simple concept but highly effective in getting people to buy more, especially when they’re shopping for holiday gifts for their loved ones.
The key here is incentive. Shoppers love getting more for their money and few things incentivize people like a discount when they’re shopping. Why get just one when I can get more for a lower price?!
This type of sale can work a couple of different ways. You can offer a price break after purchasing a certain amount of the exact same item, or you can offer a price break when someone purchases products of a certain type, products from a collection, a brand, or the entire store.
Let’s look at some examples.
DISCOUNT ON MULTIPLES OF THE SAME ITEM
The most simple way to hold this sale is to offer “Buy two, get X% off” of the same item. So, if you’re selling a red t-shirt, buying two of those red shirts might get your customer 25% off if they buy both. This works particularly well for food items, cosmetics, and body care products, things that people naturally run out of and would likely buy more of in the future. It’s great to get more than one of the same item to give away as a gift, but equally good for people who just like to have items stocked up at home.
This is a really good sale for parents who want to buy two of the same toy for their children (potentially to avoid fights?!), they’d get those two toys for a lower price than buying them individually elsewhere.
DISCOUNT ON MULTIPLES OF DIFFERENT ITEMS
Another way to hold this sale is to offer discounts when customers buy certain amounts of the same item, but with a variation allowed. That’s where it gets fun. Here are some different variations you can do:
- Same item, different brands. (One Reebok T-shirt, one UnderArmour T-shirt)
- Same brand, different items. (One Reebok T-shirt, one Reebok pair of shorts)
- Items from a collection. (Any grouping of items that you’ve tagged as a collection. For example, if you sell scented body lotion, perhaps you have a Holiday 2016 collection of limited time scents)
- Any items in your store! (Literally anything.)
WHAT’S A GOOD AMOUNT TO DISCOUNT?
The amount of discount you assign to your goods is totally up to you! Buy 2, get 20%... buy 3, get 30%... buy 4, get 40%... or any variation you can think of! Maybe it’s buy 2, get 40% off.
If you sell bigger ticket items, you may want to keep the discounts on the lower end, or you could find yourself giving away the farm!
HOW DO I DECIDE WHAT TO PUT ON SALE?
What you put on sale will be very individual to your store. Some merchants will choose items based on inventory; maybe they have excess stock of certain things and they need to get their inventory numbers down a bit, so they put those things on sale. Other merchants will pick goods that are nearing an expiry date, as they need to make sure those things get sold.
For some, it’s just about rewarding loyal customers (and attracting new ones) by putting popular items on sale! We already know people will shop around for the best price they can find on an item before they pull the trigger and hit the “Complete Purchase” button, so when there’s something really popular and coveted (can anyone say Shopkins? Tickle Me Elmo? Frozen? Cabbage Patch Kids?!) a sale price on your store might mean you’re the one who gets the sale. And since we’re talking about customers buying more to save more, that could be a real win for your profit column!
- Bold Life & PR