Does promotional pricing drive us to buy more?

SAHAR NAZI | January 31, 2019

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Whether it’s to increase demand or to offer consumers an incentive when launching a new item or product range, retailers are never far away from implementing the age-old marketing strategy of promotional pricing. But just how effective are these campaigns? Two-for-one or buy-one-get-one-free deals, to deep discounts and even specials offered in conjunction with movie launches or cultural events are just some of the examples of promotional pricing strategies that retailers offer. However, these businesses have to bear in mind that providing a discount should be recouped with sales increase, and calculations must be taken in order to evaluate the practicality and timing of the offer. For example, cultural holidays are a time when footfall is considerably high, especially during the Christmas period, and retailers often try to capitalise on heavy discounting with consumers who are likely to have the fear of missing out on a deal.

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