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2. Exclusive, Limited-Time Coupons: Another one of their great techniques is when they send coupons for “10 dollars off any Pink purchase.” In this situation, customers would receive $10 off any Pink brand item bought in the store. Pink is extremely popular for Victoria’s Secret, and there’s a wide selection in this line. There’s something for everyone. Why not see if you can save on a higher-priced item you may have had your eye on?
How does this help Victoria’s Secret? They may provide $10 off, but they’re getting you to spend money there. Again, the incentive gets customers through the door and the sought-after merchandise urges them to stick around and do some more shopping.
3. Clearance or Bargain Sales: Victoria’s Secret also holds their Semi Annual Sales to drum up business. These sales occur in the winter time (usually every January) and also every summer. These sales are huge (some ladies ransack the displays to find the best deals) and they get tons of people into their store. Many of the items that go on sale during this time are usually discounted between 40 and 70%. People who love Victoria’s Secret go crazy over these prices, because on a regular day, their prices aren’t usually that cheap.
How does this help Victoria’s Secret? Bargain-hunting customers usually buy as many pairs of unmentionables as they can which not only brings in cash but also clears out previous-season merchandise. This frees up space for new designs, which people catch previews of while they’re waiting in line to pay for their purchases.
4. Incremental Incentives: Not every patron sees the appeal of waiting in lines for the best prices, and VS understands that. That’s why they incorporate online-only deals. For example, they may give a $15 discount for every $100 spent, $30 off for every $150 spent, or maybe even $75 off for $250 spent. This incremental technique is another way for the store to gain new business.
How does this help Victoria’s Secret? Incremental incentives encourage people to buy more for a price break or discount. This is especially beneficial for customers who may be near a price break — let’s say you have $90 worth of merchandise in your cart. Wouldn’t you be likely to add one more item if you knew you could then use the coupon for $15 off? I would.
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