Discount pricing is used frequently by many eCommerce organizations to help carry their brands through challenging economic times or to promote conversions. Take, for example, the coronavirus epidemic. According to a recent McKinsey & Co poll, 40% of customers are more conscious of their spending habits, and 32% are switching to less costly brands and items to save money.

It's difficult to compete with low-cost items, which is why so many merchants use discounts. On the surface, this appears to be the proper thing to do, especially because 60% of US customers think that savings are more important to them when purchasing online since the coronavirus outbreak began.

While reduced pricing can increase conversion rates, it also reduces returns on each conversion, decreases average order values, and can result in a drop in real income. There are occasions when bargain pricing can be beneficial, and other times when it can harm you far more than it helps. I'll teach you how to determine when and how strategic discount pricing makes sense, as well as when it doesn't.

We'll go through the many forms of discount pricing, the psychology behind them, how to build a profitable discount pricing plan, the benefits, and drawbacks, and show you some real-world instances of discount pricing.