Filed under: Customer acquisition, Economy, Life improvement | Tags: Reality, Sales Promotions, Strategy
The most hotly discussed topic this week, was the fact that multiple brands across numerous industry sectors are strongly promoting aggressively priced discounted offers, which surely will not last too long whilst they continue to post annual losses and make redundancies.
Something has to give…… As consumers are in the market for bargain hunting only, almost with vulture type instincts (Just look at Woolies) and there is still a few more brands to fall off the trading ladder before the end of the year. A number of brands through desperation are falling into that space of being widely branded as the discount brand. What happens when these brands need to decrease their heavily promoted discounts and get out of the red and back into the black?
Is it all to late? Or are we about to enter a 24 month spell of coupons and discount vouchers?
Previous recession case studies reveal that the brands who were most aggressive and had a great value story to tell, won significant market share and in the long term came out quids in, building brand equity along the way.
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