What is BOGO?
It means Buy One Get One free
Well this concept is used for increasing sales or a tactic of Sales Promotion, here the customer buys one product and gets the other for free or at lesser price. This promotion is strategically planned for increasing more sales.
Many types of BOGO deals are there in market such as:
- Simply BOGO deals– It means where customers gets same option for free with other one. For example: A jewellery store offers one pair of earrings free with other.
- Discount attached to BOGO- In this type of deal the customers purchase one item on price and get another one on discount. For example: If customers buys one shoes on full price will get other at 50% discount.
- BOGO on the basis of the product– Sometimes it is done on product type. For example: The deal will be the only women’s kurti of a particular brand.
- New products BOGO offers– This is done for promoting sale of new product or new venture. For example: If a new pizza shop opens they offer buy one corn pizza and get other corn pizza for free.
- Clearance sale BOGO– We can clearly see if store want to clear it’s old stock they offer BOGO deals.
6.BOGO in festivals– Sometimes the company wants to increase its profit during festivals, so they offer BOGO deals on items related to festivals. For example: BOGO deals offered by a sweet shop buy one soan papri and get another free.
So, before planning for BOGO it’s very important that business should do proper research on-Profits, Inventory, Customers preference, Market trends and other similar factors.
