We all love a deal or a discount, but it seems sales promotions are losing their impact with shoppers.
Marketers fond of using special prices and bonus offers to get their stock moving out the door will be disturbed to read recent research by SymphonyIRI, revealed in AdAgerecently.
SymphonyIRI found that although the percentage of packaged goods using price promotions increased markedly for the second consecutive year in 2010, the average volume lift per promotion fell.
Are shoppers really tired of two-for-ones, bonus sized products, and short-term price cuts? Surely not!
The report’s author Susan Viamari puts the decline down to “promotion fatigue” after heavy use of discounting and deals in the past few years, but added that, with the economic downturn in the US, the “option of stocking up just because something is on special is not a very easy option”. “CPG manufacturers need to evaluate everyday pricing strategies,” she added.
So what are the alternatives for marketers that need that extra push at the supermarket shelf? If you can’t whack a “50% off” sign on your in-store messaging what can you do to attract the buyer to your product?
TorchMedia’s creative guidelines offer a rundown of how best to maximise the effectiveness of your in-store creative. The key attributes of effective creative in the retail environment are:
- Leverages the environment
- Clear product shot
- Information rather than aspiration
- Simple message
- Sense of urgency
- Provides a clear solution
- Call-to-action (why should I buy this product)
Get the in-store messaging right, and perhaps you won’t need to give away the “get one free” part of the bargain after all.