Getting your promotions right

Getting your promotions right

31 May 2017

Globally, 59% of promotions are ineffective, in the US, it’s 71%[1]. With planning and executing time predicted to take up three quarters of a merchant’s week, investing in promotions may seem like a pointless strategy for retailers who are battling to increase margins through efficiency measures and grow sales for the long-term.

Yet like consumers, the retail industry is seemingly addicted to promotions. With the continued global expansion of discount retailers and the online players biting heavily into market share, traditional retailers have resorted to a range of tactics, including heavy reliance on promotions to create excitement and drive increased custom.

Promotions will always be an effective way to build excitement into the shopping experience – customers love a good deal. But how do you make sure you’re creating the right balance with your promotions? Our latest report helps retailers take a more sophisticated approach to their promotional strategies, getting smart with customer data, to drive a better, and more sustainable, return on investment.

 

[1] Nielsen Global Trade Promotion Landscape, 2015

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Managing Director at dunnhumby Price and Promotion

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