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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.
Over 80% of sales are still completed in person, instore. So, how can the vast majority of sales occur on the High Street, but High Street retailers be fighting for survival?
The resilience of the flyer as a marketing tool has won out in the “print versus digital” debate among retail marketers. Today, the real debate is focused on how retailers can maximise the effectiveness of flyers as part of an integrated marketing toolset?
Tim Mason, Eagle Eye CEO, on the value of major events like Singles’ Day in China and how Alibaba is using this event to boost sales and understand their customers better.