We know people are responsive towards incentive. when people get some incentive they at least once think of buying or trying that service or product. They try to compare with the similar range of products and services. So to get the attention of the buyers to try to give more discount coupon code and many more incentive so that people will spend more.
Like Flipkart's big billion days. It offers so many offers, discount which attracts more customer and increases its profit. From a normal day's average selling to a big billion day's average selling is 5x-6x more and it shows that how people are attracted towards incentives.
Most of the offers and services come in festive season so that people buy more. From a survey, it is found that only in the occasion of Ganpati Puja and Durga Puja there is a transaction of 50,000 corers across India. It is also found that during the festive season there is a 25% increase in average monthly spend on staples and packaged foods, 12% increase in groceries, a 50% increase in spending on appeals, a double spend in the lifestyle and fashion accessories in the festive season. All these are because the sellers are giving too many intensive and people are responsive towards intensive.
These things are good from the economic factor because consumer spending is an important economic factor because it usually coincides with the overall consumer confidence in a national economy. Consumer spending makes up roughly 70% of our country's economic activity. So it stands to reason that more spending will help to stimulate our economy. Demand will thrive and grow and jobs will be created as a result of that growth.
No comments:
Post a Comment