You can offer discount on the product's price.
Navigate to Product -> Discount from the panel and click on the 'Add button':

In the 'Add Discount' page, add the details as per your requirements:
Discount Type can be 'Discount code' or 'Promo Code' . Discount code is created by the system and promo code requires text to be added by admin.
Discount code generates unique code per candidate which is based on 'No. of User'. Promo code remains same for all number of users.
Discount can be generated product wise or for all products. Provide Title of the discount code generated for uniqueness. Provide 'Discount By' which is based on Amount or Percentage(%). Provide amount and percentage as per the option chosen. Provide 'Quantity' or 'No. of User' as per Discount Type chosen. Provide validity for the discount codes using 'Start Date' and 'End Date' and then click on 'Generate' to create codes.
The Codes will be shown on 'Discount' Page:
You can filter the codes based on Discount Code, Amount, Title, Creation Date, Sales Date.
You can navigate to 'Discount Distribution' to see which candidates applied the discount codes to see how many codes are sold or used. You can export the information in excel or pdf format.
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