Promotions and sales are a lever. But if pulled too often they become your brand. (See: JCPenny)

discounting and promotions in general is a place where retailers all too frequently get caught up in the short-term goal of juicing sales, get caught up in the short-term goal of taking advantage of promotional environments by using promotions as a lever, again, to drive conversion and the short-term.

what gets very dangerous there is that you can really erode the value of your brand.

Competing on price is hard.

Compete on something that makes you unique and use sales and promos as sprinkles.