Posted in Marketing and Strategy Terms, Total Reads: 591
Definition: Incremental Sales
Incremental sales is a concept where in a company manages to sell more products as compared to its estimates. Incremental sales usually happen when a business used advertising and promotion methods to attract & lure the customer into buying the products or services.
A customer can increase sales when he/she get another product through an offer or discount or a similar activity. So once a customer purchases the product they wanted, they also go ahead and buy another product, which helps in incremental sales.
If the company understands the mentality of the customer then this can lead to incremental sales. In order to lead to incremental sales, the company must first try to establish the relationship with the customers. The customer personal information and data can lead to maintaining the long term customer loyalty. Sometimes it is better to ask them their post buying experiences.
Another way for incremental sales, is to find a product that creates a difference from other competitors. This drives additional customers to the business and it also increases in-store sales with those customers who may be unaware of the niche offering.