Boost Sales and Delight Customers: Why You Should Plan an Annual Discount Event

By now, you've probably heard me and my gripes about upon-release pattern discounts. I'm not a fan of them. For many reasons that include but are not limited to:

• They automatically devalue your product

• They train your customers to only buy from you when there's a discount

• You come to rely on it as the only way to get people in the door when your pattern is released

• Other industries typically do NOT discount brand new products - especially not industries with physical products

Do I hate all discounts? No. But, I think that if you're a fiber business and you choose to offer a discount, you should be strategic about it.

So, try an annual discount event! Some people do this around their birthday and have a “birthday sale” (which feels a little egocentric to me… unless you do it - in that case, it's totally cool). Plan a week (designers - do not pick the week of Andrea Mowry's birthday) or a weekend or a time period during the year to host a sale. You can discount all of your products, you can offer a discount with a bundle purchase… whatever you prefer. If it were me (and it's not), I might choose a time that's traditionally slow for me where I may need that influx of extra cash.

I also have a podcast episode that digs a little deeper into different discount strategies - click here to listen.