8 Types of Promotional Rules for Department Stores
When it comes to handling promotional rules, there are the simple rules and the more complex rules. Department store managers have an arsenal of tools available to them to encourage customers to buy more and spend more money. Here are eight very effective promotional rules for department store retailers.
- Product discounts – Product discounts are very simple. You can state the rule in terms of percentage discount or by dollar amount.
- Free shipping – Another simple promotional rule is the free shipping rule. This one works great for online stores, but it also works for mail order retailers.
- ‘Buy X, Get Y Free’ – The slightly more complex promotional rule is the buy X amount get Y free. It can be stated as Buy 2 Get 1 Free, or it might be a slightly different Buy 1 and Get a Second One Half Price. These types of promotional offers encourage customers to buy like or similar items, and it works great if you have these items in bulk.
- Loyalty programs – Loyalty programs come in all different shapes and sizes. They can be temporary or permanent. Some rewards specific types of customers–for instance, those who purchase on credit. Others reward customers based on how much they spend, or how much they spend in a given period of time.
- Buy more, save more – One of the best promotional rules for department stores is the ‘buy more, save more’ rule. This rule works great because it encourages cross-department sales. If your customer needs items from apparel, appliances, jewelry, and the toys department, they can buy everyone they need in one trip and get one big discount. They save more by making all their purchases at once.
- Price match – Have a competitor nearby? Offer your customers a price match on similar items. It’s a great way to take customers from your competition ethically.
- Holiday or seasonal promotions – Holiday promotions can take place during the holiday or after. It works great for holidays where gift giving is popular–for instance, Christmas or holidays–and increases sales during that holiday. The slightly different post-holiday sale can help you get rid of excess product left over after the holiday. Seasonal sales are similar but can run longer.
- Coupons – Coupons allow you to sell particular items, or multiple items, by advertising them at a discount. The customer gets the discount if they bring you the coupon.
All of these promotional rules are excellent for department store retailers and can easily drive up sales.