5 Reasons Discounts Attract Customers
3 min read by Nichita Herpuț
published 7 months ago, updated 7 months ago
A smart shopper knows how and when to use a store’s discount. And a good discount can bring a crowd of customers that may have been absent beforehand. You can never negate a good discount. So why does it attract customers?
The main reason discounts attract customers is the loss aversion principle. Additionally, discounts create a sense of happiness by releasing oxytocin, generate excitement, and make the customer feel smarter because they saved money.
Find out the other reasons people tend to attract stores that offer discounts when shopping. Although happiness is the largest reason, it’s not the only one.
Why Discounts Attract Customers
There are so many reasons why a customer loves a good discount. Everyone likes the idea of saving money and finding the place that offers the lowest prices. Here are a few of those reasons why customers will find a company more appealing when offering discounts:
- It adds to a customer's happiness.
- It betters the relationship between customer and company.
- It makes it easier to shop in one place.
- It adds to the excitement of shopping.
- It makes the customer feel smart.
Adds To A Customer’s Happiness
Shopping is a wonderful way to help alleviate stress and distract you from your worries. But there have been studies proving that discounts make customers happier. Even small discounts can cause oxytocin (the happy hormone) levels to increase by quite a bit.
It is always a good feeling to go shopping, and you save money. It’s like meeting a goal you didn’t realize you had. Some discounts and coupons can even make the product just a few bucks, saving you even more money. Who wouldn’t be happy with that little victory?
Betters The Relationship Between Customer And Company
When a company provides discounts and does it regularly, it builds a better relationship between the company and their customer. When a customer can rely upon that some sort of discount will come out, they feel like they can rely on the company.
Customers will even be more likely to continue being loyal when reward programs offer discounts that others may not receive. It makes a customer feel special and provides that more personal appeal.
Makes It Easier To Shop In One Place
Discounts will make it easier for customers to shop in one place. If customers know they can save on many products, even if a few of them are more than in other stores.
Customers don’t want to go out of their way to buy something cheaper at another store. So if there are more than one discount within the store, the appeal of this store is better than shopping around.
And nowadays, companies will match other stores as long as you can prove that the competitor has lower prices. This makes it easier to shop in one place and allows the consumer to feel as if they bested the large company from taking more of their money.
Adds To The Excitement Of Shopping
Finding the best deals around is like going on an adult version of a scavenger hunt or a treasure hunt. Many customers out there even get competitive about finding the best deal on a piece of clothing.
It is more exciting finding a pair of shorts that were originally $50 for just $8 instead. It is almost as if you found the golden ticket to Charlie’s factory. It may not be the same victory, but still a victory. There is nothing wrong with finding discounts as a victory.
Makes The Customer Feel Smart
Customers are always looking for a good deal, even if they are willing to pay full price for a product. When bargain hunting and a customer finds a great deal, they feel pride in getting such a great deal.
Discounts make customers feel smart and confident in their shopping. There is no guilt or shame in buying a product when 50% off. This also validates their urge to buy the product at a discounted price so that when people ask how much they got the product for, they will proudly say how much they spent.
Discounts make shopping even more fun because you feel accomplished that you saved money doing something you would do anyway. It feels like a little victory saving money while purchasing the things you love. It is a simple way to gain a little happiness.
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