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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.
Keep your eyes open for your invite to our exclusive annual event with guest speakers, industry insights followed by cocktails and canapes.
Join us at Food & Grocery Australia where our CEO Tim Mason is speaking. The conference concentrates exclusively on the fast moving consumer goods and retail industry and the 2019 program offers exceptional value for your time and commitment, greater industry insights, greater breadth of opinion and greater business deliverables.
Meet with us at the UKGCVA Conference in London in March - the gift card industry event of the year. Catch up with our team to hear the latest about our Gift offering and be the first to know the latest insights from the gift card industry.