The holidays are a great time for your business to run specials and discounts. As long as it’s conducive to your business, one-time discounts are a tried-and-true method of boosting profits. Retailwire.com talks about the psychology of discounts, and the main principle is “the larger the discount, the greater the perceived value.” This just means that people are more likely to buy something when it’s discounted, because it seems like it’s worth more. This is more geared towards retail, but also applies to services. 20% off a chiropractic exam? 30% off a utility installation? It may not be the first thing you think of when you think of holiday cheer, but any working adult will tell you how much of a gift small business service can be worth!
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