That could be one way, yes. You have to get those merchandise with good prices though before you can put them on sale.
Or... Do something like this. http://www.imcashsaver.com/ Not my website, but a good example. You don't need physical goods. You can make deals with software owners.
Deal of the day may be a good way of getting repeat visitors, good idea. But...you still need to find a way of getting the traffic to your site in the first place. When people don't know you exist, a deal of the day is not going to help. Perhaps a loss leader could be advertised in the publications where your potential customers are...
Any of you ever tried to apply the deal of the day idea to a services company? Someone not offering a product?
Picture of the day, joke of the day, and "of the day" is a good idea since your website will have something new to offer daily. New content - more repeat visitors.
Use Press release or classified ads. Keep a close eye on your competitors. You can copy their methods.
By doing social media, blogs, article marketing and press releases you can get one way quality backlinks to your site.
There are a many good methods to drive trafic to your store .... change banners, make "discounts" , implement a script with "tell a friend" ..etc
if you are looking to get visitors to your website there many free and paid ways to do that. if you are looking to get repeat visitors to your website then having a forum is a great way to do it.
Article Marketing is a very good way to get traffic Write articles then submit them to article directories then turn the articles into podcast and then submit them to podcast directories. Also turn the articles into short videos and link the videos to your website. Then send that same article to ezine publishers and yahoo groups. Thats Article Marketing on Steriods
bookmark and blog post, article, link share, offer a prize mabey but then that may cost ya some initial money but payoff may be good in the long runn.
Jon in some relevant group and talk with them, write some useful articles.I think it could take you traffics.
Offer bonuses for purchases of your products or services. Giving freebies is one of the most tried and true marketing strategies out there