Got a good deal source: Stokkete / Shutterstock
What do the studies say?
Are financial savings the only reason consumers respond to sales promotions? Researchers reveal that the answer is much more complex. They discover that sales promotions are not just about money, but also about fun and convenience.
Imagine walking into a store and being greeted with a sale. This promotion can not only save you money, but also provide a sense of discovery, entertainment, and even a algeria phone number library chance to express your own values and tastes. These are what researchers call “hedonic benefits.” At the same time, promotions can also provide you with practical benefits, such as saving time, improving the quality of products, or simply making your shopping experience more convenient: the so-called “utilitarian benefits.”
But here’s where it gets interesting: The effectiveness of a promotion depends on how well these benefits fit the product being offered. Saving money on a practical product? Great! But a discount on a luxury item? That can be less attractive, because it might diminish its unique value.
This research opens our eyes to the complex world of sales promotions. It’s not just a matter of a discount here and a sale there. It’s about creating an experience that resonates with the needs and desires of the consumer. By taking this approach, retailers can design more effective promotions that truly connect with what the consumer wants and needs. And that, it turns out, is the key to success in the dynamic world of retail.
