{"id":4543,"date":"2019-05-09T14:54:00","date_gmt":"2019-05-09T09:24:00","guid":{"rendered":"https:\/\/www.vue.ai\/blog\/?p=4543"},"modified":"2024-08-12T10:04:11","modified_gmt":"2024-08-12T04:34:11","slug":"are-you-ready-to-boost-sales-without-falling-into-the-discount-trap","status":"publish","type":"post","link":"https:\/\/www.vue.ai\/blog\/ai-in-retail\/are-you-ready-to-boost-sales-without-falling-into-the-discount-trap\/","title":{"rendered":"Are You Ready To Boost Sales Without Falling Into The Discount Trap?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69de1f5aacdac\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69de1f5aacdac\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/are-you-ready-to-boost-sales-without-falling-into-the-discount-trap\/#breaking-the-cycle-of-discounts\" title=\"Breaking The Cycle Of Discounts\">Breaking The Cycle Of Discounts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/are-you-ready-to-boost-sales-without-falling-into-the-discount-trap\/#focus-on-return-on-experience\" title=\"Focus on Return on Experience\">Focus on Return on Experience<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/are-you-ready-to-boost-sales-without-falling-into-the-discount-trap\/#effective-use-of-site-merchandising\" title=\"Effective Use of Site Merchandising\">Effective Use of Site Merchandising<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/are-you-ready-to-boost-sales-without-falling-into-the-discount-trap\/#identify-a-gap-challenge-it\" title=\"Identify A Gap, Challenge It\">Identify A Gap, Challenge It<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">7<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><p><span style=\"font-weight: 400;\">Discount-driven shopping culture is deeply ingrained in the global retail industry. Every big shopping season is marked by events that loudly broadcast the upcoming steal deals and eye-popping price cuts. There is no denying the fact that discounting is a practical tool when retailers want to acquire new customers, create brand awareness, absorb the holiday rush, or rotate old\/damaged stock to make room for new stock. In fact, the growth of the refurbished, resale and rental platforms highlights how slashing down the prices of products could be used to build a parallel retail industry that thrives on discounts.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It becomes a cause of concern for retailers when discounts affects the retail sales and revenue growth of new product launches and fresh inventory. The downside of the discount-driven business model is the growing tribe of customers that are conditioned to wait for discounts. Engaging with buyers that are reluctant to pay the full retail price because they see no value in it is a real problem that plagues the industry. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">A rare discount has now become a permanent fixture and customers have come to expect that eventually, the prices of current season products would come down. Brands find themselves stuck in a vicious cycle, pedals of which are being pushed by the rise of online retail, fast fashion economy, social media and price shoppers\/deal hunters.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, there is a way out, as successfully demonstrated by companies that have always rebelled against this culture or are beginning to do it now. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Louis Vuitton is one such company. <\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"breaking-the-cycle-of-discounts\"><\/span><b>Breaking The Cycle Of Discounts<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The Paris-based iconic fashion house is known as a luxury brand that never goes on sale. Their website <\/span><a href=\"https:\/\/eu.louisvuitton.com\/eng-e1\/louis-vuitton-outlet\"><span style=\"font-weight: 400;\">warns<\/span><\/a><span style=\"font-weight: 400;\"> unsuspecting buyers against fake discounted LV bags by spelling out, \u2018<\/span><span style=\"font-weight: 400;\">You must also know that Louis Vuitton never marks down prices.<\/span><span style=\"font-weight: 400;\">\u2019<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The luxury retail industry can be considered as a section that is the least affected by the discounting trend. Classic styles and hot selling pieces such as Chloe\u2019s Susanna black studded boots, Burberry\u2019s beige trench coat or Hermes\u2019 Birkin are never available at a discounted rate. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Louis Vuitton never put up the \u2018sale\u2019 sign. Not even if the unsold stock is worth millions of dollars. The brand managed to do this by taking complete control over its distribution channels. And the person who spearheaded this shift in strategy was <\/span><span style=\"font-weight: 400;\">Henry Racamier<\/span><span style=\"font-weight: 400;\">. <\/span><\/p>\n<img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-4545 alignnone\" src=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2019\/05\/shutterstock_712532167.jpg\" alt=\"\" width=\"1000\" height=\"562\" srcset=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2019\/05\/shutterstock_712532167.jpg 1000w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2019\/05\/shutterstock_712532167-300x169.jpg 300w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2019\/05\/shutterstock_712532167-768x432.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/>\n<p><span style=\"font-weight: 400;\">Until the 1980s, Louis Vuitton bags were widely available at various department stores. But Racamier (married to founder Louis Vuitton\u2019s granddaughter Odile Vuitton) invested in vertical integration, be it production, distribution or store management, when he <\/span><a href=\"https:\/\/www.businessinsider.in\/Heres-Why-Youll-Never-See-Louis-Vuitton-Products-On-Sale\/articleshow\/45540496.cms\"><span style=\"font-weight: 400;\">realized<\/span><\/a><span style=\"font-weight: 400;\"> that retailers are pocketing a substantial share of the profits by marking up the prices by as high as 100 percent. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">By setting up independent brand stores and removing middlemen, the profit margins went up from 20 percent to 40 percent and above. As someone who <\/span><a href=\"https:\/\/www.economist.com\/obituary\/2003\/04\/10\/henry-racamier\"><span style=\"font-weight: 400;\">nurtured distaste for the word \u2018sale\u2019<\/span><\/a><span style=\"font-weight: 400;\">, Racamier ensured that they were never coerced into marking down the price of LV bags by limiting wholesale orders of department stores. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Today, LV is one of the top twenty brands that have grown exponentially in terms of value. In 2017, its <\/span><a href=\"https:\/\/www.businessinsider.com\/the-20-fastest-growing-brands-around-the-world-2018-6?IR=T#20-louis-vuitton-1\"><span style=\"font-weight: 400;\">brand value<\/span><\/a><span style=\"font-weight: 400;\"> was $29,242 million. In 2018, it grew by more than 40 percent to reach $41,138 million. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">While explaining how and why this strategy worked in Louis Vuitton\u2019s favour, Mark Ellwood <\/span><a href=\"https:\/\/www.businessinsider.in\/Heres-Why-Youll-Never-See-Louis-Vuitton-Products-On-Sale\/articleshow\/45540496.cms\"><span style=\"font-weight: 400;\">writes<\/span><\/a><span style=\"font-weight: 400;\"> in his book \u2018Bargain Fever\u2019, \u201cAs Recamier had realized forty years before, the equation for success at full price was simple: Controlling the channel meant you controlled the price. Without a middleman, margins are higher, offering a plumper profit cushion during downturns.\u201d<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"focus-on-return-on-experience\"><\/span><b>Focus on Return on Experience<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">One might argue that it is easier for luxury brands to stay away from the discounting model because keeping the \u2018prestige\u2019 intact is an inherent part of their brand building exercise. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Retailers and independent labels don\u2019t necessarily have the resources or the privilege to gain control over the distribution network of their products like LV could. Fortunately, there are different routes available to such businesses. By making a few tweaks, it is possible to increase the average order value without lowering the prices of products and services. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The most powerful key to attract loyal customers as opposed to only attracting price shoppers is designing a frictionless <\/span><a href=\"https:\/\/www.vue.ai\/blog\/retail-vue\/customer-experience-an-opportunity-your-brand-cant-ignore\/\"><span style=\"font-weight: 400;\">customer experience<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">A staggering <\/span><a href=\"https:\/\/www.pwc.com\/us\/en\/advisory-services\/publications\/consumer-intelligence-series\/pwc-consumer-intelligence-series-customer-experience.pdf\"><span style=\"font-weight: 400;\">73 percent of buyers<\/span><\/a><span style=\"font-weight: 400;\"> shared that customer experience is an important factor in their purchasing decisions. But less than 50 percent of consumers believe that retailers truly understand how to deliver it. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">PwC\u2019s Global Consumer Insights Survey 2019 <\/span><a href=\"https:\/\/www.pwc.com\/gx\/en\/consumer-markets\/consumer-insights-survey\/2019\/report.pdf\"><span style=\"font-weight: 400;\">states<\/span><\/a><span style=\"font-weight: 400;\">, \u201c\u2026it\u2019s time to introduce another metric, one with a focus on customer experience. Because consumers today are so discerning and powerful, it\u2019s our perspective that most organisations need to invest far more in customer experience (CX). Measuring \u2018return on experience\u2019 (ROX), will help you understand your earnings on investments in the parts of your company directly related to how people interact with your brand.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Technology, the great leveller, can enable companies to improve their customer experience metric and reduce dependency on discounts to increase the average order size. <\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"effective-use-of-site-merchandising\"><\/span><b>Effective Use of Site Merchandising<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In the digital age where <\/span><a href=\"https:\/\/www.vue.ai\/blog\/trends-and-analysis\/fashion-technology-the-new-formula-to-success-and-virality-in-this-era\/\"><span style=\"font-weight: 400;\">technology<\/span><\/a><span style=\"font-weight: 400;\"> is shaping consumers\u2019 lives, site merchandising is instrumental in improving customer experience. The shopping journey across multiple platforms, be it in-store, web store, mobile site, or an app, can be personalized with the help of Data Analytics, Artificial Intelligence (AI) and Virtual Reality (VR). <\/span><\/p>\n<p><span style=\"font-weight: 400;\">While <\/span><a href=\"https:\/\/www.vue.ai\/blog\/trends-and-analysis\/are-you-mobile-ready-for-the-holiday-season\/\"><span style=\"font-weight: 400;\">smartphones<\/span><\/a><span style=\"font-weight: 400;\"> receive the maximum clicks and visitors, retailers and brands need to invest in tech-powered tools that allow them to engage with customers at all touchpoints because \u2018blended experiences\u2019 is what consumers want. The line between digital and physical retail world is also diminishing. Therefore, online retail platforms are relying on <\/span><a href=\"https:\/\/www.vue.ai\/blog\/leaders-in-retail\/conversational-commerce-the-emerging-frontier-of-shopping-experiences\/\"><span style=\"font-weight: 400;\">conversational<\/span><\/a><span style=\"font-weight: 400;\"> inventions like AI chatbots and virtual assistants to interact with consumers. On the other hand, traditional retailers are using inventions like <\/span><a href=\"https:\/\/www.vue.ai\/blog\/trends-and-analysis\/5-fashion-tech-trends-to-watch-out-for-in-2019\/\"><span style=\"font-weight: 400;\">AR mirrors<\/span><\/a><span style=\"font-weight: 400;\"> and in-store apps to digitize the shopping experience of customers who walk into their stores.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An AI stylist like <\/span><a href=\"https:\/\/www.vue.ai\/products\/outfit-recommendations\/\"><span style=\"font-weight: 400;\">VueStyle<\/span><\/a><span style=\"font-weight: 400;\"> helps retailers provide a personalized styling experuence and \u00a0to customize the shopping journey of millions of shoppers seamlessly. This virtual storytelling and merchandising technology promotes healthy brand engagement and improves customer retention rate by 35 percent, besides increasing the average order value by 1.5x. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s a <\/span><a href=\"https:\/\/www.vue.ai\/blog\/vuestyle\/ecommerce-visual-merchandising-fashion-retailer-checklist\/\"><span style=\"font-weight: 400;\">checklist<\/span><\/a><span style=\"font-weight: 400;\"> to determine if your site merchandising touchpoints are ready to deliver an unmatched customer experience. <\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"identify-a-gap-challenge-it\"><\/span><b>Identify A Gap, Challenge It<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Nothing beats brand differentiation strategy when it comes to increasing full-price sell-through rate in retail. One way to defeat the discount-driven model is by differentiating your business from the competition. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The beauty of the retail industry is that these gaps that are waiting to be challenged and filled come in various shapes and sizes. It opens up new opportunities for all those who are looking to build a brand with a difference. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Take, for instance, London-based womenswear brand Rose &amp; Willard. Founder <\/span><span style=\"font-weight: 400;\">Heidy Rehman had trouble<\/span><span style=\"font-weight: 400;\"> finding work clothes that weren\u2019t too high-street or outrageously expensive. \u00a0After visiting numerous shopping malls and online sites, she decided to create a clothing line, which catered to the needs of women professionals who wanted feminine yet affordable and comfortable workwear. \u00a0Her goal is to build a brand that is sustainable and promotes a healthy body image with the lowest carbon footprint. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">While Rehman challenged a market gap in womenswear, <\/span><a href=\"https:\/\/www.adweek.com\/brand-marketing\/menswear-brand-whiskers-hopes-to-woo-dressy-dudes-into-accessorizing-with-luxury-shoelaces\/\"><span style=\"font-weight: 400;\">Whiskers<\/span><\/a><span style=\"font-weight: 400;\"> identified the dearth of luxury shoelaces in menswear. The company is on a mission to accessorize shoe laces and dominate a market with virtually no competition. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Commitment to sustainability is also one of the top tactics to increase average order value. Customers would not only agree to pay the full retail price but are also willing to pay more, if brands invest in sustainable initiatives. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cConsumers want to support brands that are doing good in the world, with 66 percent willing to pay more for sustainable goods. Some 42 percent of millennials say they want to know what goes into products and how they are made before they buy, compared with 37 percent of Gen Z,\u201d according to BoF and McKinsey\u2019s The State of Fashion 2019 <\/span><a href=\"https:\/\/www.mckinsey.com\/~\/media\/McKinsey\/Industries\/Retail\/Our%20Insights\/The%20State%20of%20Fashion%202019%20A%20year%20of%20awakening\/The-State-of-Fashion-2019-final.ashx\"><span style=\"font-weight: 400;\">report<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The success story of San Francisco-based direct-to-consumer shoe company Rothy is proof of how sustainability can set the cash registers ringing, just like luxury <\/span><a href=\"https:\/\/www.vue.ai\/blog\/trends-and-analysis\/how-the-nerdy-sneakers-climbed-its-way-up-to-high-fashion\/\"><span style=\"font-weight: 400;\">streetwear<\/span><\/a><span style=\"font-weight: 400;\"> businesses can. The company that makes stylish and washable shoes made from recycled plastic bottles has a long list of loyal admirers <\/span><a href=\"https:\/\/www.huffingtonpost.in\/entry\/meghan-markle-rothys-shoes-at-nordstrom_n_5c05a2a5e4b07aec57519ade\"><span style=\"font-weight: 400;\">including<\/span><\/a><span style=\"font-weight: 400;\"> Meghan Markle, Duchess of Sussex. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">It took four years of blood and sweat to get the shoes ready for its debut. And now the company is expected to register $140 million in revenue. \u201cThere was lack of intentional style and comfort in one product. It seemed to be one or the other. And there was nothing sustainable in the space at all,\u201d <\/span><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-12-17\/rothy-s-hits-its-stride-with-35m-from-goldman-sachs\"><span style=\"font-weight: 400;\">revealed<\/span><\/a><span style=\"font-weight: 400;\"> cofounder Roth Martin, while talking about how his wife\u2019s search for perfect ballet flat prompted him and partner Stephen Hawthornthwaite to design these shoes. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Rothy\u2019s brand story also throws light on how direct-to-consumer (DTC) fashion brands too enjoy the freedom of fine-tuning the supply chain to suit their business needs. As it eliminates the need for middlemen, many independent labels are following the DTC model by vertically integrating operations. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Social media platforms like Instagram, Pinterest and the growth of influencer marketing are two big factors that are fuelling the growth of such businesses. While the <\/span><a href=\"https:\/\/www.vue.ai\/blog\/trends-and-analysis\/style-in-the-age-of-instagram-how-likes-and-shares-have-transformed-the-fashion-industry\/\"><span style=\"font-weight: 400;\">photo sharing site has transformed<\/span><\/a><span style=\"font-weight: 400;\"> the fashion industry, <\/span><a href=\"https:\/\/www.vue.ai\/blog\/trends-and-analysis\/influencer-marketing-the-journey-from-endorsers-to-stakeholders\/\"><span style=\"font-weight: 400;\">influencers<\/span><\/a><span style=\"font-weight: 400;\"> have metamorphosed from endorsers into stakeholders. <\/span><\/p>\n<figure id=\"attachment_4546\" aria-describedby=\"caption-attachment-4546\" style=\"width: 1023px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-4546 size-full\" src=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2019\/05\/Customer-Experience-e1557413391439.jpg\" alt=\"\" width=\"1023\" height=\"565\" srcset=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2019\/05\/Customer-Experience-e1557413391439.jpg 1023w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2019\/05\/Customer-Experience-e1557413391439-300x166.jpg 300w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2019\/05\/Customer-Experience-e1557413391439-768x424.jpg 768w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2019\/05\/Customer-Experience-e1557413391439-470x260.jpg 470w\" sizes=\"(max-width: 1023px) 100vw, 1023px\" \/><figcaption id=\"caption-attachment-4546\" class=\"wp-caption-text\">Source: PWC<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">However, it is a tricky business model to crack. The order sizes won\u2019t go up and the conversion rates won\u2019t multiply if a brand is not able to match consumers\u2019 expectations. Getting the pricing right, quick turnaround time (from conceptualization, production to delivery) and personalized product portfolio are the keys to building a successful DTC business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If discounting is a necessary evil for your business that you can\u2019t quit cold turkey, consider getting creative with it. \u00a0Study your customer data and recognize the key elements that people value most in their customer experience. Tie those elements with discounts\/rewards to increase the average order value. For example, if your customer values easy payment, then offer an early payment discount. Similarly, customers that value social responsibility can be offered credit in exchange of donation for a cause of your choice, like women\u2019s premium essentials brand Cuyana does with its \u2018<\/span><a href=\"https:\/\/www.cuyana.com\/stories\/leancloset.html\"><span style=\"font-weight: 400;\">Lean Closet\u2019<\/span><\/a><span style=\"font-weight: 400;\"> movement. Those that value loyalty program can be invited to exclusive members-only sale events. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">7<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span> Discount-driven shopping culture is deeply ingrained in the global retail industry. Every big shopping season is marked by events that loudly broadcast the upcoming steal deals and eye-popping price cuts. There is no denying the fact that discounting is a practical tool when retailers want to acquire new customers, create brand awareness, absorb the holiday  &#8230;<\/p>\n","protected":false},"author":23,"featured_media":4547,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1162],"tags":[169,259],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Are You Ready To Boost Sales Without Falling Into The Discount Trap? | Vue.ai Blog<\/title>\n<meta name=\"description\" content=\"The luxury retail industry can be considered as a section that is the least affected by the discounting trend. 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