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Scheme & Promotion

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Scheme and Promotion produce very pronounced effects to retail business. It is indisputable that Scheme and Promotion offer retail store a series of benefits which other forms of marketing communications cannot duplicate.

Increase stock turn and reduce cost: Discounting retail inventories of non-moving or slow-moving products, price promotions effectively liquidate the inventory and reduce the stock holding cost.
Increase in sale:  It enable customers to try out different products thereby creating more consumer choice. Since different items are on promotion every week, increased consumer choice results in increased sale.
Increase walk-in conversion ratio: Providing irresistible deals to visitor will force them to make short-term decisions. The customer usually based their decisions on the price of the product therefore with reduced prices; customer might just be forced to make purchases even if they did not originally intend to do so.
Increase in profit levels: Since the appeal of retail products is, to a huge extent, determined by price, sales promotions enable companies to adjust the retail price of the product for short periods of time and with minimal price difference. Sales promotions aim to increase sales in the short-term.
Introduce new product with minimum risk:  The principal companies prefer introducing new products backed by a store-based sales promotion. Short-term sales promotional enable retail to offer temporary displays of the products, price cuts and paid advertising, which could result in more sales and revenue with minimum risk.

 

RanceLab® FusionRetail 6 offers a bouquet of scheme and promotion fairly customizable to suite your business needs. It is set on

Date Range for single, multiple or all week days
Time Range for single, multiple or all week days (Happy Hour Pricing)
Product - single, multiple or all products
Location - single, multiple or all locations (chain of outlets)

 

Note: Before using Scheme and Promotion please set “Activation Scheme and Promotion = Yes” in “Main Menu > Master Data Management > Inventory > Location Master (M> I> L)”

 

The available options for Scheme and Promotion are…

Buy  X, Get Y

Using this method helps you to set a discounted price for quantities of an item, purchased with a specified number of an item. For example

Example:

Suppose you have selected 3 products in Buy X, Get Y Scheme as “T-shirt H/s” “T-shirt F/s” and “Formal shirt H/S” with respective sale values as Rs.100, Rs. 200 and Rs. 300. You also allowed 50% discount on the 4th item and the calculation is based on “Minimum Value”.

Now if you scan “T-shirt H/s” “T-shirt F/s” and 2 “Formal shirt H/S” products it will deduct 50% from that product which have minimum sale value (as value of “T-shirt H/s” will be Rs.50 so the final sale bill will be of Rs.850 instead of Rs.900). You can also use “Maximum value” in the “Calculation Based On” option.

More Examples:

BOGOF "Buy One, Get One Free"
Buy 2 Trouser and get 1 shirt at 50% off
Buy 20 KG Rice and GET 1 Kg of Sugar Free
Buy an Antonio Bernini watch and get another one worth Rs 12,500 absolutely free.
Every Tuesday - Buy 1 large pizza at menu price, get a 2nd pizza of equal or lesser value free.
Get a Hauppauge TV Tuner worth Rs. 4500 with every purchase of selected models of Compaq Laptops
Buy any Esprit Time ware and get the second one at 50 per cent discount

Mix and Match: Unit Price

You can use this method when all the discounted items share the same price. This type of discount sets different unit prices for each purchase quantity. In this option you can specify the Discount as per quantity of products.

Example:

As per the above example if the customer buy 1 unit of that product it will cost Rs.500, for 2 pcs it will cost Rs.450 each and for 3 pcs it will cost Rs. 400 each. Above 3 Pcs, sale price of every unit will be Rs.400 as per the above example.

More Examples:

Any 4 formal shirts for Rs. 999
Buy any 5 game CD’s at Rs. 199
Buy 2 Shirt for Rs. 575 Each and Buy 3 Shirt for Rs. 499 Each

Mix and Match: Percent Off

You can use this method when the discounted items have different prices. This type of discount sets a different percentage off the regular price of each item for each purchase quantity.

Example:

More Examples:

Buy 2 Shirt at 10 % off
Buy 3 Shirt at Rs. 15% off

Bill Discount

You can use this method to set a discount on the entire bill based on the value of the bill.

Example:

You can use this option to give discount on the whole bill instead of particular product. Here you can use discount on value or percentage.

More Examples:

Buy goods worth Rs.10000 and get 10 %  discount
Buy goods worth Rs.6000 and get discount of Rs.499

Coupon (Cross Promotion)

Use this method to print a coupon based on the item. This is used for the cross promotion with other outlets.

Examples:

On shopping for goods between Rs 299-1499, win free food coupons, video games
Buy 4 Shirt of United Color and get one Ray-Ban® sunglasses free
Buy 2 kids t-shirt and get a ice-cream coupon free

Product Discount

Use this to set different discount for the different items.

 

For more detail please visit;

Is it possible to apply scheme and promotion according to Product Child ID?

Is it possible to give discount by scanning the particular product child code in RanceLab® FusionRetail™ 6?

 

 

Common fields in all schemes

 

Scheme

Scheme Name

Enter the name of scheme as per your choice

Discount Type

Select Scheme type from the list

Date From

Enter start date of scheme

Date To

Enter end date of scheme

Time From

Enter start time of scheme

Time To

Enter end time of the scheme

Weekday

Select weekdays here. It will work only on selected weekdays.

 

Available On

Products

Select products here. You can select multiple objects in one go.

Location

Select Location on which you want apply the scheme

 

1. Scheme for Buy x, Get Y

 

 

Method

Buy Qty. at Full Price

Enter Buy quantity i.e. the quantity on which the scheme will act

Get Qty. at Discount Price

Enter quantity, you are offering for discount.

Discount Price (Sale Value)

Enter discount in value applicable only on discounted unit

Or Discount Percentage

Enter discount in percentage applicable only on discounted unit

Calculation Base On

Select either minimum value or maximum value on which the software calculates the discount.

 

2. Scheme for Mix and Match: Unit Price

Method

Method Name

Qty

Price

Discount Qty Wise

Enter quantity

Enter rate per unit applicable only on quantity entered

 

3. Scheme for Mix and Match: Percent Off

Method

Method Name

Qty

Discount (%)

Discount Qty Wise

Enter quantity

Enter percentage of discount applicable only on quantity entered

 

4. Scheme for Bill Discount

 

Method

Method Name

On Amount

Discount (%)

Discount Rs.

Bill Discount

Enter amount

Enter discount in percentage value applicable only on amount entered in “On Amount” field.

Enter discount in amount applicable only on amount entered in “On Amount” field.

 

5. Scheme for Coupon (Cross Promotion)

Method

Coupon File

Select a coupon file from the list.

Valid Days

Enter days of validity of Coupon.

Sale Qty

Enter quantity for Coupon printing

 

Scheme Set Up Buttons