I started a brand selling fitness equipment 6 months ago. One product store so far. It is rather successful by my standard. Ranging 10-20% profit margin after all expenses. On some bad month it was just breakeven. I still couldn't find the sense of stability to the extent I don't feel like surviving mode on daily basis.
Did some promotion (BFCM, Xmas, 20% discount) on last November and December, I managed to up the monthly profit margin to 30-40% range. That makes me wonder should I try to do promotion more often, so I can at least keep the business afloat and reinvest the profit to scale faster.
I understand discount is double sword. Offering it too often your customer will be trained to only buy when there is discount. That's not my intention of doing it long term. In fact, I'm trying very hard to build a premium brand. Writing content, generous refund policy, lifetime warranty, and so on.
However, I realized survival is above all at the moment. Should I do more promotion now and tone it down later when I've scaled enough?