Effective discounts and offer strategies are increasingly essential for attracting customers and driving sales. Today, consumers expect businesses to understand what they want and suggest relevant promotions. According to a recent report from PYMNTS, 83% of consumers are interested in customized discounts and promotions, but only 44% actually receive offers that suit their needs.
LS Central includes a flexible Price and Offer Management feature that enables retailers to create, manage, and execute a wide variety of promotional campaigns. Let’s review a few of the features and benefits available and how it can help you tailor offers and discounts to impress customers and achieve your business goals.
Benefits of LS Central’s Price and Offer Management feature
1. Versatile offers and discount types
LS Central supports a diverse range of offers and discount types, allowing retailers to design campaigns tailored to their customers' needs. Whether you want to run a buy one, get one free campaign, or a limited-time discount on select items, LS Central allows you to easily diversify your offering. Some of the popular offer and discount types are:
- Percentage or amount discounts. Offer a certain percentage or amount off on selected items or the entire purchase.
- Buy One Get One (BOGO). Encourage sales by offering a free or discounted item with the purchase of another item.
- Mix & Match. Manage complex item combinations to give discounts or deal prices. Volume Discounts Provide discounts based on the quantity of items purchased.
- Time-Limited Promotions. Create urgency with promotions that are valid only for a specific period.
- Category-Based Promotions. Target specific product categories with tailored discounts.
- Loyalty Program Offers. Loyalty members can receive more points or use their points for discounts.
- Frequent Buyer Program. Target Customers who repeatedly buy the same or similar items and encourage customer retention.
By leveraging customer and sales data in LS Central, you can determine which areas you want to apply various offers and discounts to encourage sales, applying as many or as little of them as needed according to your requirements.
2. Customizable promotion rules
To activate promotions and campaigns in LS Central, retailers must specify detailed rules and conditions for each offer. Some ways retailers can do this include:
- Customer segmentation. Target promotions to specific customer groups based on user-defined attributes such as purchase history, loyalty status, or demographics.
- Minimum purchase requirements. Set a minimum purchase amount to qualify for the promotion.
- Manage overlapping offers and discounts. Define discount priority rules to ensure control over complex promotional campaigns.
Whatever your goals are with launching a promotion or campaign – whether it’s to create personalized offers for loyalty members or simply get more customers through your doors – LS Central enables you to easily set the parameters needed for your business and reach your target customers.
3. Automatic execution
In LS Central, discounts and offers are applied automatically at the Point of Sale (POS) wherever they are specified, ensuring that customers receive the correct discounts on items or purchases while reducing manual work for the cashier. Take any of the following scenarios as an example:
Seasonal sales. A fashion retailer might set up a seasonal sale with a 20% discount on all winter apparel. The promotion can be time-limited to create urgency and boost sales during the specified timeframe such as end of season sales.
Loyalty member discounts. A beauty and cosmetics store might want to offer exclusive discounts to loyalty program members. For example, allowing members to receive a 10% discount on their total purchase when they spend over USD $100.
Weekend flash sales. An electronics store could run a weekend flash sale offering 15% off on selected devices. This limited-time promotion would help drive foot traffic to the store and increase weekend sales.
No matter the scenario, discounts and offers in LS Central are applied automatically at checkout, making life easier both for your customers, and your employees. Not only will you entice customers to shop with you, but you’ll also create a seamless shopping experience that encourages them to return.
LS Central’s flexible Price and Offer Management feature is a powerful tool for retailers looking to create impactful promotional campaigns. By leveraging its features and automated execution capabilities, you can tailor promotions to meet your specific business needs, engage customers, and drive sales growth.
To find out more about how LS Central’s advanced features and functionalities can help you better manage your business, contact our experts.
