What is a Limited Time Offer?
The definition of a LTO (limited time offer) may be simple. Knowing precisely what one is can be a whole different story. In its simplest form, it is any reward, discount, deal or special gift a consumer receives if they purchase during a specific period. These offers are usually the most popular around Black Friday and Christmas.
The most important thing to remember is an LTO should be just that. It’s evident limited time offers increase sales. However, some companies try to capitalize on this and end up losing rather than gaining. Some companies have a habit of reintroducing the same deal. They’re hoping the trend will follow on from just a seasonal deal. There’s an issue with this. People might stop buying from you when you don’t have an LTO.