What is Sales Promotion in Retail? Explained

Sales Promotion in the retail industry are the marketing activities and strategies designed to stimulate customer interest and increase sales of products or services for a limited duration. This can include various promotional tactics such as discounts, special offers, buy-one-get-one-free (BOGO) deals, contests, and loyalty programs. Sales promotions are typically time-bound and aim to create a sense of urgency, encouraging customers to make immediate purchasing decisions. Retailers use sales promotions to attract new customers, retain existing ones, clear excess inventory, and boost overall revenue. Effective sales promotions can create excitement, drive traffic to stores, and enhance the overall shopping experience for consumers.