Promotions
Introduction
Promotion includes all those methods that a retailer uses to boost sales by encouraging customers to buy more items. Some good examples of promotions are:
Buy Shirts | Get T Shirts @ 20% off
Buy any Women’s Bags for $199
Spend over $1000 | Save 30% on bill total
Promotions are set up within the application to automatically apply when certain specific conditions are met.
Types of Promotions
The following types of promotions are available in iVendNext:
Buy X | Get Y
Offering a free or discounted item when buying another item.
"Buy X | Get Y" promotion is a method where the customer buys an item (X) and gets an item (Y) for free or at a discounted price.
Example:
Let's say a retail clothing store is running a "Buy One, Get Another On Discount" promotion on Women Bags.
1. Promotion Details:
Buy X: Buy one Women Bag.
Get Y: Get another Women Bag of equal or lesser value at 70% discount.
Promotion Transaction
A customer decides to buy a Woman Bag (WB-1001) for USD 300. While checking out, she adds a second Woman Bag (WB-1002) also priced at USD 300. The store was running a "Buy any bag and get another at 70% discount" promotion. As a result of the promotion, she gets the second bag at 70% discount.
Buy X | For a fixed price
Offering an item at a fixed price irrespective of the actual item price.
A "Buy X | For a fixed price" promotion is a method where the customer buys a certain quantity of item (X) at a fixed price.
Example:
Let's say a retail gift store is running a "Buy Any For A Fixed Price" promotion on Women Coat.
1. Promotion Details:
Buy X: Buy any Women Coat
Fixed Price: USD 50
Promotion Transaction
A customer chooses to buy a Women Coat (WC-1001) priced at USD 180 and proceeds to check out. The store was running a "Buy any women coat for $50" promotion. As a result of the promotion, she gets the Women Coat (WC-1001) priced at USD 180 for USD 50.
Spend X | Save an amount
Offering a discount on the total bill value.
Spend X | Save an amount promotion is a method where the customer spends (X) amount of money and saves a certain amount on bill total.
Example:
1. Promotion Details:
Spend over $1000 and save 30% on bill total
Promotion Transaction
A customer buys some items and proceeds to checkout. The bill total becomes USD 1097. The store was running a "Spend over $1000 and save 30% on bill total" promotion. As a result of the promotion, she pays only USD 767.91
The Buy Side and the Get Side of Promotions
Let's give you an overview of the Buy Side and the Get Side of Promotions
The Buy Side
The Buy Side defines the conditions that must be met to qualify for the promotion. It could include purchasing specific items, reaching a certain purchase amount, or buying a certain quantity of items. Some examples are:
Buy 2 shirts
Spend $100 or more
Buy any women bag item for $199
The Get Side
This side defines what the buyer will get when the Buy conditions are met. It could include discounts, or free items. Some examples are:
Get 1 shirt at 10% discount
Get 30% off on your bill total
Get women bags for a fixed price