The answers to these questions will depend on the uniqueness of your situation. You will need to know how much each item costs. Rarely should you discount the item below what you paid for it. Your price discount will need to be enough to influence potential cus-tomers. You may need to offer a discount of at least 20 percent to attract customer interest.
Some retailers do special discount promotions.
They reduce the price by an additional 5 percent per day or week until the inventory is sold. This is known as a gambler's sale. The longer customers wait, the more they run the risk of the item being sold out before they can buy it. You may also consider offering a quantity discount. Some businesses provide a discount if the customer buys a certain number of items.