We have reached the 3rd decade of the 21st century. In the last decade, the e-commerce industry witnesses a great elevation with more and more businesses going online. And in 2020, when the whole world was going through the coronavirus pandemic, people were staying in their homes due to social distancing, online shopping was the only left option for their groceries, milk, medicines and much more. By COVID, people realize the potential of the online business industry. And thus, you will see huge competition for every industry niche in the e-commerce business. To stay ahead in this competition, you have to leverage every strategy for bringing more and more customers to your store.
There are ample ways to draw people and create customers such as SEO, digital marketing, promotional campaigns, etc. But after drawing the visitors to your store, they will start browsing the store, check the products, and ultimately add them to the shopping cart. But still, they may take some time to make a final purchase or they don’t make it at all.
Sometimes the customers need an incentive for making a final purchase. An incentive can be either discount, or a coupon code for reducing the overall price, and making the sale lucrative to the buyer. Coupons are among the best ways to reduce the abandoned carts, as a customer will go back and complete sales with discounted rates. Here are a few strategies for using discounts/coupons for your Magento store: