“Buy one, get one free”. We’ve seen them and bought them.
The concept isn’t new, but the marketing method originally used by shops to clear stock is now more commonly known as a “2 for 1” offer and it’s becoming a profitable means for promotion.
Essentially it’s a great way for consumers to save money, but for a business there are additional benefits other than the increase in revenue generated by the popularity of the deal.
For example, 2 treatments being offered by a spa for the price of 1, may be bought and used by one brand new consumer. Having experienced the spa twice for only one purchase, the individual’s loyalty to the establishment may increase.
A consumer who believes sharing is caring, may invite someone out for dinner to a restaurant which neither person has visited before, that has a 2 for 1 offer. That establishment now benefits from two new consumers rather than one.
If you’re thinking a 2 for 1 offer is only applicable to the bargain sector, then think again.
It allows an organisation which is conscious of not reducing the price of their product or service, to add considerable value to consumers.
By, in effect, halving the cost per person for 2 people, the entry price for a more luxurious experience now becomes more accessible for 2 consumers willing to try something they could not otherwise afford.
So what makes a 2 for 1 offer better than a 50% discount?
A business can use it at any time for promotion.
It’s unfair and sometimes illegal for a business to claim an item is discounted unless it has been available for sale at the previous, higher price for a certain period of time.
Discounts are increasingly being offered by online group buying sites but on the condition that a minimum number of people subscribe to the deal.
A 2 for 1 offer provides the consumer with instant value and no reliance on others.
We recently launched a mini book with 36 of the best 2 for 1 deals in Dubai.
The offers are generating huge interest from cost conscious foreign tourists planning trips to the UAE.
We need more 2 for 1 offers and greater variety. People love them and recognise their value.
There are groups of friends who regularly trade and swap their best deals.
This is transforming the 2 for 1 offer into a social currency, one which tourists will be filling their wallets and purses with as they arrive in Dubai.
My advice to you, the next time you pay for anything, check to see if there’s a 2 for 1 offer available.
The writer is co-founder of www.lowcostdubai.com
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