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There’s no denying it: we’re a nation of bargain-hunters. In ever-increasingly competitive markets, brands pull out all the stops to get us into their stores and onto their websites. Competing with each other to not only shout the loudest about their promotions, but also offer the most compelling discounts to consumers. As we’ll see, not all product promotions were made equal.
And discounts don’t just work to build relationships with new customers. We’re so drawn to promotions, in fact, that 15% of consumers would return to a brand that had lost their trust in the last year, if they were offered a discounted price for doing so.
Working to bring new customers in and reward loyalty amongst existing customers, promotions are so ubiquitous these days, it often feels unnatural to pay full price for then.
August 21, 2017
To say that food and drink is big business for the UK would be a gross understatement. The Food and Drink Federation, a UK trade body, estimates that the industry contributes some £28.2 billion to the UK economy; and across the whole supply chain it produces over £100bn in economic value each year. That’s £2,453 (...)
August 31, 2017
Marketers in the UK had a media spend of £21.4bn in 2016. This was a 3.7% rise, and the 7th consecutive year of growth. Spend looks set to continue to grow in 2017 in spite of Brexit. And media spend continues to increase inn digital, with 95% of new media spend allocated to digital-mobile media (...)
A great brand raises the bar — it adds a greater sense of purpose to the experience, whether it’s the challenge to do your best in sports and fitness, or the affirmation that the cup of coffee you’re drinking really matters. Howard Shultz, Executive Chairman and former CEO, Starbucks Why start with this quote? Because (...)