Effects of Using Coupons to Purchase Furniture at a Discount

General Articles

Furniture stores typically have sales near the end of winter and summer to clear out old inventory and make room for new styles. In addition, many furniture brands offer credit cards with special financing, discounts and rewards. Discounted furniture is often used in inventory or floor models that may have some wear and tear. These items are also less customized and may require self-assembly.

They Encourage Financing

Whether through a coupon or an incentive program, discounts can encourage consumers to finance their furniture purchases. It’s true when purchasing large-ticket items like furniture, which requires a substantial investment and can be difficult to pay immediately. It can be particularly effective if a store’s salespeople are paid a commission on every sale, incentivizing them to make as many sales as possible. Moreover, the financing offer can disincentivize external deal-seeking by blocking shoppers from searching for the best price elsewhere.

In addition, many furniture retailers have credit card programs that offer special financing and rewards to entice consumers to shop with them. These programs can effectively boost sales and increase customer lifetime value, but they should always be offered with a clear understanding of the risks.

Another good time to buy furniture is toward the end of winter and summer when retailers often discount their overstocks to make room for new styles. However, there may be better times to buy furniture, as most discounts are on pre-made inventory and cannot be applied to custom orders. Signing up for a furniture company’s email newsletter or following their social media accounts is a great way to stay informed when coupons are available. You can find an Ashley Furniture promo code to help you save money with your purchase. It would help you complete the pieces you need for the look of your home.

Discounts are a Marketing Strategy

Discounts are a common marketing strategy for retailers to attract new customers, increase sales activity, and encourage repeat purchases. These promotions can help retailers achieve their goals without sacrificing long-term profit margins. However, knowing your audience and their buyer journey is the key to a successful promotion. Offering a discount with a clear goal can lead to sustainable expectations from your target audience. Limiting the discount offer to targeted customer segments is also important to avoid cannibalizing revenue from regular customers.

Customers may feel pressured to buy if they receive a discount. It can be achieved using a limited-time offer, such as a coupon code that expires in the next few days. Discounts can also reward loyalty by sending a gift to new customers who sign up for your email newsletter. It is a great way to build a strong database of loyal customers and encourage repeat purchases. Many furniture manufacturers use discounts as a sales tool to promote a particular product line or entice customers to shop during a specific period. Some even offer coupons to their best customers to promote brand loyalty and encourage future purchases. These tactics effectively attract new shoppers and increase overall sales, but they can be costly if poorly executed.

They Attract New Customers

Many furniture stores offer various promotions and discounts to attract new customers. These can include sales on specific items, free delivery or shipping, or loyalty rewards programs. Some even have online-only coupons and special events offering steep discounts on select items.  Discounts can also help to introduce a new product line and sell inventory. However, it is important to consider the impact of a coupon campaign on long-term repeat business or sales per customer. If a company uses coupons too often, it can attract bargain hunters who will not be as loyal as the average customer. The business may also need to spend more time and money on marketing to attract these customers, and they might generate less revenue than existing clients. When shopping for furniture, comparing prices and looking at the quality of the pieces you are considering is best. Signing up for a furniture retailer’s email newsletter or catalog is also good. It will allow you to be alerted when they are running a promotion that matches your interests. This way, you can take advantage of the sale before it ends.

They Disincentivize External Deal-Seeking

Many furniture companies use discounts to drive new customers but can also disincentivize external deal-seeking. Often, the furniture could be of better quality than the value would suggest, and customers can be tempted to buy from competitors who offer a better deal. This kind of behavior can harm a company’s customer perceived value, and it’s important to limit the duration of discounted promotions. Consumers overwhelmingly believe that any discounts a brand offers represent a real reduction in the product’s original price. Although you could raise the price of a product and then provide a deal, consumers are smart enough to see through this trick. However, if you are smart about how and when you offer discounts, you can create a sense of excitement for your brand’s offering. Discounts positively affect the brain and make consumers feel good about themselves. Researchers found that people who receive discounts produce more oxytocin, a hormone associated with positive feelings. It can reduce their stress levels and help them decide to buy. However, it takes time to determine a fair price for a piece of furniture. Especially when furniture is sold on credit, and salespeople are paid commission for each sale, shoppers can be easily persuaded to spend more than they would on an identical item in a different store.