Analysis and Estimation of Discounts on Product Prices in E-Commerce Sites

Sales on e-commerce platforms are significantly influenced by discounts. When a discount is offered, 80% of buyers who initially show disinterest end up making a purchase, per a Retail Me-not survey. This increases revenue and draws in new clients who might not have otherwise thought about making a purchase. Another survey by Accenture reveals that 75% of consumers are more inclined to choose a brand that provides personalized discounts. To retain customers, e-commerce websites can implement tailored discount strategies based on customers' past purchases or preferences. The decision-making process for discounts involves various factors. Pricing strategies and discounts, as identified in the study, are pivotal in influencing consumer behavior and encouraging purchases, particularly among new customers. This research delves into the complexities of discounting practices and their impact on the online retail ecosystem. Employing a comprehensive methodology that combines quantitative and qualitative techniques, the study investigates the frequency, trends, and effectiveness of discounts across different e-commerce platforms. Through extensive data collection, including details on discount percentages, durations, and consumer feedback, the research aims to reveal insights into the strategic implementation of discounts. The study's main objective is to analyze discounts that are given on a variety of products by gathering information from an online store and using the characteristics, reviews, and ratings of the products as factors to calculate the discount value.