Google+ Consumer Psyche: New 'avatar' of discounts

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Friday, January 23, 2009

New 'avatar' of discounts

Discounts are donning a new avatar. It’s no longer just the price war for retailers but also about grabbing customer attention instantly.

One has to create excitement around shopping. Customers are usually more aware about your brand if there are novel campaigns doing the rounds. Every month, we try and come up with some creative ideas. This phenomenon is quite common in far eastern and western countries and we are trying to practice the same in India too. Most of the retailers are replicating western strategies on home turf. And it has rewarded them back too. Experts feel that its not only slowdown but the power of the competition which is driving such sale techniques.

Good marketing acts as an incentive to entice customers in favour of a particular brand. There is a certain joy and recall value when a customer gets a freebie. No wonder, even stores based on the Everyday Low Price Format (EDLP) are going in for promotional activities," reasons Arvind Singhal, chairman of global management consulting firm Technopak. Did we hear someone say novelty is King? It sure is. 

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