Everything Retailers Need to Know about Discount and Coupon Strategies

The concept of launching a coupon or promotional campaign might initially seem to be an easy task for businesses to consider, perhaps it seems relatively simple to offer 25% off or offer free shipping over a bank holiday weekend. However to really maximise the potential a coupon campaign can deliver, a business must carefully plan their campaign strategy and assess consumer shopping behavior.

Businesses must also measure the effectiveness of the campaigns they do launch – a good promotional campaign should entice increased custom and brand awareness whilst avoiding attracting price sensitive consumers who will merely purchase products while on offer and then shop elsewhere. Coupon campaigns are also an effective method for businesses to shift end of line or slower selling products, and can also be an effective means in which to launch new products and generate a buzz.

Many businesses fail to achieve these benefits by offering promotions which compromise their profits, fail to market their business and de-value their products due to regular campaigns running in quick succession or by offering significantly high price reductions. Others fail to promote their campaigns adequately and might simply post one update through social media channels in a bid to market their promotion, and subsequently their business and expect results.

Vouchercloud.net have developed this insightful new infographic to provide a rare overview of consumer reaction to coupon promotions drawing upon the latest statistics and data while also highlighting the key aspects which lead to a successful coupon campaign.

Source: https://www.vouchercloud.com/blog/retail-and-discounts-infographic