I was buying a Sunday Dallas Morning News newspaper last week in a Walgreens and I noticed a promotion they had that was displayed at the cash register. The item was a book that was selling for $21.99 or you could buy two for $43.98. Even though it was very early, I could still do the math and quickly figured out that there was NO discount for buying additional copies of the book. Quickly I thought — Are you kidding me! That’s the promotion you went with! That’s the impulse item you put next to the register. Even though I am not a retail guru I would think that the planners or store managers would use that sacred space for items that really move and frankly can make them a lot of money.
Instead they go with a promotion that to me isn’t even a promotion.
- With the economy being the way it is doesn’t everyone want and almost need to get a deal?
- Isn’t everyone looking to buy something on sale?
There are a number of promotions and deals that really can work. Lots of retail stores are doing:
- buy one get one free
- Pay full price for the first item and the second is a penny
- Buy two suits and get a sport jacket for free
Retail stores are really getting creative these days.
- What promotions do you like?
- What promotions in your opinion don’t work or a total waste of time?
- What retail store does the best job?
I look forward to reading your comments.
To me every day is a learning experience. You can learn something from every situation. And even though the economy is very challenging, I totally believe that there are tremendous learning opportunities and life lessons there as well.
It is probably on everyone’s mind daily. If you watch TV, you hear about it. If you look at the newspaper, you read about it. And probably it is a topic of conversation with your family, friends and industry contacts.
