If there’s one business idea that is true across all industries it’s that people love freebies. Businesses have been known to use the psychology of free giveaways to find new customers and get new leads. Old-fashioned deals such as ‘buy one get one free’ or a percentage discount on a certain product are still popular, as is giving away informational products such as books and courses.

However, with customers having seen all of these ideas before, they may be less likely to consider them such a good deal – or perhaps the offers simply won’t stand out as they used to. Hence, businesses are having to get smarter with their deals.

Discounts on Bulk Buys

Selling products is all about the margins. A store may make $2 on the sale of one item but if it sells 100 of them, that’s a margin of $200. That’s why today’s retailers are constantly looking at offering greater discounts on bulk buys, encouraging a customer to spend much more money by purchasing a quantity of the product larger than what they would usually go for. It expands the margins for the retailer and can help them shift stock that is just taking up space on their shelves.

Many people who buy products in bulk often do so as part of a group, fetching products on behalf of their friends and splitting the costs. That’s great for the customers, who get a far lower price per unit – but bulk buying can also help the retailer with customer acquisition, as the friends who also enjoy those deals may think about spending money with the same brand in future.

Money-Back Deals

It’s not every day that you see a business offering free money, which is what makes money-back deals so appealing. Many businesses are using the idea of giving you back the money you’ve spent as a way to grow loyalty and as a way giving you a risk-free way to try a product or service.

In online casinos and betting sites, understanding how to take advantage of risk-free bets and offers like it can be a good way to test out betting odds on sports with which you’re less familiar or at a new site. Risk-free bets allow you to keep your winnings if you win or get your money back if you lose.

Site-Wide Money Off

A coupon on a brand may get you through the door, but retailers know that you won’t continue spending any money if you don’t like the specific product. So, to drive customers to complete a transaction and spend more than they would on a one-product deal, they will offer site-wide money off coupons.

The site-wide money off coupon idea is something that eBay and Rakuten have tried out with great success. On its own, a 15% discount may not seem like much but if there are many products that you want to get, stack them in your cart and that 15% will soon add up to many more dollars.

A bigger range of deals and discounts is good news for customers and brands. Customers get more choice on how they shop and retailers have new ways to compete.