SALE! SALE! SALE! UPTO XX% DISCOUNT ONE DAY ONLY ONE +ONE FREE
We have all as marketers or sales people resorted to promotions where we have cross subsidized or discounted our product to get those extra sales numbers to make our quotas. Along the way we have capitalized on buying occasions in the calendar and even created occasions for people to buy. Whether it’s the seasonal purchases around Thanksgiving-Christmas in the Western world or Diwali-Eid in India marketers have tried most all the tricks in the book to get those extra numbers for the topline.
Like I mentioned, we also forced some occasions as buying occasions wherever we sniffed latent buying behaviour in the culture. Sometimes even manufactured buying occasions around public holidays. Whether purchase for consumption or gifting the calendar is choc-a-bloc. From apparel to mobile phones to financial products everyone has jumped onto the bandwagon.
From the brands perspective it is a lot of preparation and costs. It involves filling (sometimes even stuffing) the channel with products and a promise of a spike in sale. Communication to spread the word and of course whipping the sales guys right down to the frontline.
How many times have we gone back and told our bosses that the market is correcting itself post the spike in sales?
From the consumer perspective though what really is available for them is a deal. Take it or leave it!
Post the internet shopping revolution and the retail revolution however, a deal is pretty much available on an everyday basis! From pizza to mobile phone I can buy it sitting at home when I want, from where I want and with a choice of discounts and promotions to avail. Walk into any organized retail and there are deals for the taking.
Consumers of today seldom get swayed by these gimmicks that we marketers try from time to time. Or may be they do. We tug at their heart strings, seek refuge in culture, the works.
But does the consumer buy gold because it is auspicious to buy or it is a nice feeling to gift or it is available at a price to contrary to the trend and market? Well the jury may be still out on that one.
So the question really is whether there is any merit in creating and marketing these special days. Can brand dollars not be saved and added back to the bottom line instead. Will they continue to bite the bait and buy today because you have built up today as a great occasion to buy or will they just buy another day!