Stop the Insanity: Global shopper study offers new insights on how to improve Promotions, Personalization and Pricing
Retailers have trained shoppers to wait for discounts and promotional offers, needlessly giving away margin. It doesn’t have to be that way and new research from Forrester Consulting, commissioned by price optimization leader Revionics, shows why. In fact, earlier survey data reveals that only 9 percent of shoppers are willing to pay full price, yet 52% of the daily or weekly promotions shoppers receive are for items that they would have been content paying full price for.1
Promotional waste is at an all-time high with billions spent every year on marketing that retailers “hope” resonates with shoppers.. Recent survey data reveals that shoppers overwhelmingly love percentage-off discounts more than any other promotional offer, but what is the magical discount percentage? Do different promotional offer types work better in the store vs. online, social, or email?
Join guest presenter, Forrester Vice President and Principal Analyst George Lawrie and Revionics Chief Marketing and Strategy Officer Cheryl Sullivan as we explore insights from the latest Revionics-commissioned Promotions Effectiveness study conducted by Forrester Consulting. Learn how to avoid common promotional pitfalls while we answer some of the most common questions from retailers, including:
- Does the preferred discount type change for different categories?
- What are shoppers’ preferences on promotional frequency across different categories?
- Subscription-based pricing is gradually becoming more prominent, but are shopper adopting this new model?
- How do shoppers really feel about personalized pricing? Are they okay if someone else gets a better price?
- How do shoppers feel about receiving promotions for items they would have paid full price for?
- Is shopper loyalty to specific channels on the rise?
Reserve your seat today! Attendees will receive a complimentary copy of the upcoming research study.
1“Demystifying Price and Promotion,” a commissioned study conducted by Forrester Consulting on behalf of Revionics, November 2017.