Yesterday I went out to lunch to a local food cart pod. (Food carts are a big thing here in Portland)
Normally during the middle of winter, their business slows overall but some still stay busy due to the foods they offer.
This week two of the carts joined forces and were offering a joint coupon: buy a sushi roll at a discount and get $1-off the hot chocolate from another cart.
Super basic, but it let these two carts share their customer traffic for a small hit to their profit.
You probably already know about offering coupons in your store but have you thought about partnering up with a complimentary another store and sharing a special deal?
It could be something simple like a flat 10%-off coupon for each store or it could be for specific products that each store curated into a "bundle".
If you're not sure how much to discount for new customers, you can use the Customer Purchase Latency report in Repeat Customer Insights to get an idea.
It shows you the Average Order Value for new customers which you can use to figure out how much margin you have available. That way, any repeat purchases from that customer is a windfall.
Anyways, just install Repeat Customer Insights and it'll run that analysis for you.
Eric Davis
Learn what your customers are actually doing instead of just guessing
One of the best ways to build a sustainable business starts by getting your customers to come back. Mastering that simple process can be difficult, but builds a lifelong business.
Repeat Customer Insights can help you understand your customer's behavior. With its collection of behavior reports, you can see what they're actually doing instead of guessing and having your efforts fall flat.