4 effective promotions for retail stores in times of inflation

With the increase in prices worldwide, consumers pay more attention to discounts and promotions , as they begin to plan their purchases better. According to experts, this situation could last for at least another year, so it is essential that businesses make adjustments to their sales strategies and meet this new demand; Otherwise, your customers will search for cheaper brands and places to shop.

A curious fact is that, according to various studies, today it is the so-called millennials who are most actively seeking the best prices and are most willing to change brands or supermarkets . Have you imagined it? Given this scenario, marketing and sales experts recommend applying these four promotions in retail stores. Let’s check what it is.

1) Promotions on “hook” products.

This strategy consists of applying a strong discount on a basic consumer item , such as milk or oil. Actively highlight this promotion, by placing that product at the entrance to the sales floor or on the cover of discount brochures, for example. By attracting the attention of customers and getting them to come to the store, the logical consequence is that they end up buying other products.

2) Promotions based on personalized experiences

At the moment, the businesses that are having the best results are those that offer their customers savings opportunities designed according to their needs, preferences and consumption habits. For example, 3×2 offers may be attractive for families, but not for people who live alone and prefer significant discounts on their purchase receipt . We must apply the same logic when we offer free complementary products or discount coupons for future purchases.

3) Digital loyalty programs

Memberships and point cards need to reach those millennials who are more price conscious than their parents. These young people make intensive use of their cell phones, shop online, and use the Internet as their first source of information when comparing prices. Therefore, it is important to think about new alternatives in physical cards for the accumulation of points for purchases , in how to connect purchases made in physical stores with digital profiles and in rewarding consumers for their purchases, regardless of where a purchase was made. sale.

4) Mobile Coupons

This is another opportunity to reach the younger audience who prefer to use their smartphones also to redeem coupons and access discounts and special promotions (such as gift products or services). An additional advantage of this sales tool is that it is perceived as more friendly to the environment, ecofriendly ; Therefore, it can have a positive impact on brands that want to convey a strong message of responsibility and socio-environmental commitment.