Buy-one-get-one, or BOGO deals for short, are one of the most widely used strategies in retailing today. In basic terms, they are deals in which the customer gets to buy one item and receives another either for free or at a dramatically reduced price. This is not unique to the grocery aisle. BOGO deals are experienced across a vast range in the fashion industry, electronics, and even household goods. In this review, we shall see what buy-one-get-one, or BOGO, deals are, how they work, their advantages, as well as tips on how to pick the best offers to suit your needs.
What Are Buy-One-Get-One (BOGO) Deals?
In many senses, BOGO deals come in different shapes and sizes. In very simple terms, however, when buying one, you get a second at absolutely no cost or at a lesser cost. Here are the common forms that BOGO offers take:
BOGO Free: Buy one, get a second of like item free. Hopefully, by now this doesn’t need much explanation.
BOGO Half Off: Buy one get one for half price. These kinds of discounts are usually used for clothing and accessories.
BOGO Mix and Match: Buy one from a selected category and get another from a totally different category at a discount. This type of promotion usually encourages buying much more.
To remove the inventories, to attract new customers, and to collect sales, the retail may advertise this deal. High saving is offered by the BOGO deal to the consumers. To stock up on essentials or to try out some novel item, a buyer may shop. He doesn’t overstep the budget.
Benefits of Buy-One-Get-One (BOGO) Deals
Cost Savings
Perhaps the greatest draw of BOGO offers is the significant discounting it affords. To customers, buying something at a discounted rate per item means you can stock your favorite items. Let’s say you buy shampoo regularly at $10 each. With BOGO, you pay only $10 for two bottles, thereby lowering the price to $5 each.
Inducement to Buy New Products
Buy one get one (BOGO) is an irresistible offer that encourages shoppers to try something they would otherwise not buy. When freebies are concerned, experimenting with a flavor, brand, or product type because someone has given you the second item at a discounted price is less of a risk. For instance, if a neighborhood grocery store advertises a BOGO on a type of snack that is not often consumed within the household, then consumers are highly likely to buy the product because they will not lose money over something with which they are not familiar.
Brand Loyalty Bounce
The BOGO or buy one get one deals retailers provide customers with make them loyal. Customer-to-customer attraction or brand attraction, as it would be called, frequently occurs when a customer has had a good experience with the brand, whether through product quality or attractive offers. Such a customer is more likely to return and again purchase from that brand. For example, if a consumer tries out a new yogurt brand due to some BOGO deal, they like it and are later likely to buy it again on their own without a deal, thus making them loyal to the brand.
How to Identify BOGO Deals
BOGO offers can be very good sources of savings, but not all offers are created equal. Here are some tips to help you identify the best deals and meet your preferences:
Compare Prices
First, compare the prices of any item. How much are you paying for the bargain where you get one free? Determine whether that product isn’t already on sale or perhaps it’s commonly priced higher than other of the same. Then go ahead and use some online price comparison tools or apps to find out whether this deal is really going to save you money.
Think About Your Needs
Analyze the products you’re buying and whether or not they are something you actually need or use. BOGO can be enticing where consumers will buy more of items they do not actually have a use for because it is at a discount. Ask yourself if you will actually use the second item, or is it just taking up space in your pantry or closet.
Expiration Dates
When you buy groceries with beverages and food, check the expiration dates, especially of BOGO. There’s no point in saving on those items if they’re going to run out before you can consume them. Make sure the items you are availing of don’t run out within a month or a week. Ensure there is time for you to enjoy the products before expiring.
Look for Loyalty Programs
Most retail stores also have loyalty cards that provide more perks in the form of discounts and rewards for their members. Joining any such programs will help you save even more as you shop for BOGOs. Some stores will even send exclusive BOGO offers for their loyalty program members, which will also unlock deals not provided to the public.
How To Select The Best Buy-One-Get-One (BOGO) Deal
Pay attention to what you are buying, and make the most of the situation by hitting BOGO deals strategically. Here are some strategies that can help pick the best deals:
Identify Your Regular Purchases
Make a list of the things you would normally buy and take notice of any of those items that normally go BOGO. In this way, you can make sure you will be buying something at a discount on items you had already planned to buy.
Track Promotions
Keep track of your favorite stores through social media or sign up for their newsletters so that you will know beforehand when a BOGO promotion is about to start. Generally, retailers post such promo alerts in advance, allowing you to prepare your shopping trips.
Application of Digital Coupons
Many retailers offer digital coupons, which you can redeem during the same shopping event as a buy-one-get-one (BOGO) promotion. You will download store apps and apply the digital coupon in real-time when shopping, saving you even more money.
Share with Friends or Family
Teaming up with friends or family members is a good way to take advantage of the power of BOGO deals. If you find two items that you like, consider splitting the cost and sharing with friends or family. This is especially helpful for items you won’t need right away, which reduces waste but still gets you the rewards of a deal.
Conclusion: How to Choose Best Buy-One-Get-One (BOGO) Offers
In a nutshell, it would be just perfect in case one can take some great advantages from buying one and getting another free with the buy-one-get-one deals. To make an understanding of the different types of BOGO offers, their advantages, and the ways of strategic buying, this post was prepared. Remember to check around for price comparisons, check expiration dates, and take advantage of loyalty programs so you can get the maximum benefit from your purchases. With just a little preparation and smart shopping, BOGO offers will improve grocery bills without reducing the quality or satisfaction achieved.
Read more about:Â E-commerceÂ
Read here:Â E-Commerce Strategy
