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Blog
In days gone by, getting customers into stores revolved around blunderbuss techniques like loss leaders or cut-price essentials. While they drive the top line, promotion strategies need to be more sustainable from a profitability point of view. In the digital age, personalisation adds a new dimension to pricing and promotions. A typical blanket offer affects customers in three different ways. An offer of £5 off a £50 basket will be wasted on a customer who normally spends £25. If they usually spend £50 this offer simply rewards them for their normal behaviour, but to a customer who usually spends £40 it’s likely to drive £10 of extra sales. Continue reading Tim Mason’s article in The Grocer, in which he advises on the opportunities for data insight and how this can lead to hyper-personalised promotions, rather than irrelevant blanket offers. Tim also talks about changing consumer behaviour to your advantage, and touches on the bursting potential for hyper-personalised pricing to give brands and retailers a competitive advantage.
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In this sixth in a series we look at how to get business buy-in for digital store augmentation. The ‘digitally augmented’ store is so important in levelling the playing field for bricks-and-mortar retailers. But many are struggling to modernise their legacy store estates, which is where the ‘mobile makeover’ comes in.
Discover the latest trends from the gift card market and how you can unlock a proven source of additional revenue. Download on-demand the webinar with Richard Ridley, our New Business Manager and Rich Millington, our Head of Product.