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Quality over Quantity in Retail Promotions

Raffy Wolfe merchandising in action, Store Owners Leave a Comment

In the retail industry, having the quality over quantity mantra is common. But still, some businesses can’t stop bombardment strategies especially in promotions. At some point it becomes beneficial and effective because through these promotions, customers become more enticed. However, the positive effects don’t stay for long. In fact, businesses doing these are unconsciously caring for a long-term negative mindset among their customers.

One particular example is the use of promo codes and coupons. Many businesses have a strategy of providing these as frequent as once daily. It’s true that it can be interesting for the consumers but the thing is, as time pass by, they get used to this. The tendency is they become dependent on it. Until the day they won’t spend anymore without it. It may be okay because at least you’re still earning. But how long can you bear earning only a little amount? Would that be healthy for your business?

The answer is no because it delays growth and can end up with you being stuck on providing coupons and discounts for your waiting market. This strategy in achieving a loyal customer base is harmful than beneficial. In reality, not all of your customers need it. Instead, you should focus on your high-value and new customers. You can begin by trying different promotions for your high-value customers and your new email subscribers. For instance, you could send a broad discount to your new subscribers to encourage immediate action, but send each high-value shopper an email that promotes new items in their favorite category. You may find that many of those loyal customers will be willing to purchase new items without a discount.

To be honest, there’s no reason to send the same promotion or offer to everyone every day. When you can deliver better promotions to your audiences, you’ll be more likely to engage your customers, rather than spam them with irrelevant promotions. Focus instead on building loyalty through relevance and value. By setting the right mindset and not tolerating a wrong habit, you and your customers can benefit mutually and you will have a relationship that is not dependent on one taking advantage of the other party.

Through this, it would be easier for you to follow your quality over quantity mantra. You can now start doing the right thing which is to personalize your promotion system depending on your customers. But doing this manually would take a hefty amount of time. So, it would be better if you start looking for an automating system that can help you group your customers and categorize the promotions that will fit on their purchasing behavior and preferences.

Using a proper targeting strategy is the key to effective and successful retail promotions. With this, you don’t have to send unnecessary and random promotions anymore as first-time visitors will be shown one promotion, while a different one is being seen by loyal shoppers. All you have to ensure now is that the right promotion displayed on your website is the same to that same person to prevent any confusion.

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