While most of us like to think we are rational, we weigh our investments carefully and logically compare prices, we are actually predictably irrational. Our shopping is often the result of many illogical thought processes that are influenced by the behavior of other customers, the attractiveness of special offers, and the atmosphere in stores.
To make you happy with new things, and to avoid feeling guilty after spending a huge forest of money, it is best to buy when there are discounts. And what do good discounts mean at all? Although at first everyone thinks that a discount is just a discount, it can be shown in many ways, and you have to find out which one is the best. It’s nice seeing that your favorite brand’s collection is at a discount, and even better when it comes to a double discount!
What Is the Double Discount Calculator?
Don’t know how to calculate the double discount? Don’t worry! Double Discount Calculator will calculate it instead of you. By only entering the parameters, you will have the answer in a second. So, get it ready before your shopping spree!
Formula
Final Price = Original Price – 1st Discount, Price after 1st Discount – 2nd Discount
Here is an example of its usage:
| Original Price | $100 |
| 1st Discount | 10% |
| 2nd Discount | 20% |
Final Price = Original Price – 1st Discount, Price after 1st discount – 2nd discount
Final Price = (100 – 100 * 10%) – (100 – 100 * 10%) * 20%
Final Price = 90 – 90 * 20%
Final Price = 90 – 18
Final Price = 72
Difference between the Discount and Promotion
Sales incentive is the offer of goods/services under more favorable conditions compared to the regular offer, especially with a reduced price, special conditions of sale, delivery, with the promise of a reward, with accompanying gifts, in loyalty programs, and other benefits. The sales incentive offer includes in particular:
- The type of incentive;
- Precise and clear definition of the goods/services to which it refers;
The period of validity of the incentive, an indication of the start date and expiration - Date – in the case of a sale with the indication “while stocks last“;
- All possible special conditions related to the exercise of the right to incentives.
The forms of discounts that include sales at a reduced price are specially regulated:
- Sale,
- Seasonal discount, and
- Special sale.
When it comes to seasonal discounts, seasonal discounts are defined as the sale of goods at a reduced price after the end of the season and at most twice a year. The seasonal reduction will start between December 25 and January 10, and July 1 and 15. The seasonal discount can last for a maximum of 60 days after the seasonal discount.
The promotion is a special sales incentive that can be provided to the consumer in different ways, for example: by buying one product, another can buy with a 50% discount; or if the consumer has fulfilled the conditions and become a user of the loyalty program, then with the loyalty card he gets a 20% discount on each purchase; or when buying, the consumer receives a voucher with which he gets a 10% discount on the next purchase, etc.
Having in mind the above, we can conclude that there is a difference between a discount that means selling goods at a reduced price and promotions that can be provided to consumers in different ways (loyalty program, vouchers, buying one product, another can be bought at a discount, etc.).
There are many ways to give your customers a discount:
- Discount in a defined cost or percentage – This is one of the most used discount types and gives a price reduction on the starting price of the product. These discounts can be given for certain things or for the price you pay in total.
- Pay one and get the other one – It makes customers go on a shopping spree and buy more. A good example is when you buy two shirts and get the cheaper one for 60% off or for free.
- Discount on buying more – Getting a discount for buying more is one of the best ways to make people spend more money in your shop. It’s similar to the one before, the only difference is in quantity.
- Free delivery – Shipping that is free is the most popular when it comes to the discount in webshops. For a specified order amount, many sellers offer free shipping
The goal of discounts and special offers is to attract the attention of existing and new consumers, increase online traffic and of course – increase demand and online sales. But for this to happen, you need to give customers something special so they can take action. That is, they made a purchase.
How Do You Share Special Offers?
Sharing discounts and other special offers are the most popular marketing strategies because proven; we ordinary mortals accept those best. The trader defines the manner and conditions under which the consumer acquires the right to a discount. For whatever sales incentive the trader chooses, the offer of the sales incentive must be in accordance with the conditions defined by law.
Among other things, this means that the offer of a sales incentive should include the period of validity of the incentive, with an indication of the start date and expiration date. In this regard, we point out that the discount, like any other sales incentive, cannot be indefinite. The implementation of an indefinite, continuous sales incentive is the conduct of the trader contrary to legal provisions. If a product or service were continuously at a discount, then it would not be a discount, but a regular price of that product/service.
If the consumer receives a voucher that entitles him to a discount, it is necessary to indicate on the voucher the monetary value of the voucher / the amount of the discount, as well as how long the voucher can be used. When the discounts are good, we are able to plunder the entire store. The best example is the mystery called Black Friday – the world’s most famous day of sales and low prices, where customers often fight for the last pair of socks.