Using promotions effectively
The number (and variety) of promotional offers in the retail world continues to grow. But aligning a promotions programme with overall strategy, and understanding which offers are most effective, is challenging.
Frontier’s experience with retailers has highlighted some of the ways to make the most of promotions. Promotions are the weapon of choice in 21st century retail warfare: as common now in banks, pubs and hotels as in any department store, and seen in July as often as January. As pricing and EPOS systems have developed, so the volume of offers and the range of promotional mechanics have grown. But in the fog of war it is not always easy to judge the outcome. Applying a few simple principles can help retailers to cut through the maze of data and sharpen a promotions programme.