Mar 27, 2013
JCPenney is raising its prices in order to mark them down again, James Covert at The New York Post reported.
CEO Ron Johnson is trying to restore traditional sales at the struggling department store chain. Last year, he vowed to wean customers off coupons, but the strategy failed and traffic plunged, leading to painfully low sales numbers.
Despite a steady amount of CPG coupons distributed by marketers in 2012, US consumers redeemed 17.1% less coupons than in 2011, according to a study from NCH Marketing Services. Total consumer savings on CPG coupons declined by $800 million in 2012, to $3.7 billion, representing an 17.8% decrease. The decline comes after 3 consecutive years [...]
After distributing 8.1% less coupons in 2011 than in 2010, CPG marketers held steady last year, distributing 305 billion coupons across all media, according to NCH Marketing Services. That 305 billion figure represents an 8.1% climb from 2008, but is down from a peak of 332 billion in 2010. In response, 79.8% of consumers surveyed [...]
Best Buy totally messed up on one of its coupons recently.
First, it offered a coupon for $50 off a purchase of $100 or more as long as the customer used a Mastercard. Like most coupons of its type, it excluded some items, such as iPods and certain brands of TVs.
But it didn’t exclude gift cards.
The way shoppers search for coupons is changing. While the days of tearing apart the Sunday paper for coupons haven’t passed just yet, we are seeing a lot more people switch to their smartphones to look for deals.
To help with the growing demand for mobile coupons, Coupon Cabin just launched an all new app that lets users search for coupons by category for hundreds of online retailers.
Check out the graphic from Coupon Cabin below for more facts about our mobile coupon habits:
Ah, the perils of confusing coupons.
This coupon from Wendy’s recently caused quite a fuss when it was posted on Reddit. The general reaction was: what (or who) the heck is the “Redhead” that it’s selling?
No, Wendy’s isn’t peddling crimson-haired humans with any purchase.
Luckily, some of the more well-informed Redditors shared their knowledge:
“A “redhead” is their stupid coffee I got all excited when I saw the sign thinking it was a red, spicy buffalo sandwich (or a real redhead which I would have preferred ) But it is just coffee “
And now we know.
On Wendy’s end, it shows a disconnect in its marketing. Something like the Redhead, which obviously isn’t a commonly known brand, needs a bit of context.
Groupon can add the following useful features:
- allow users to request the category, type, or even specific coupons they want — this can generate insights about demand and also tailor the offerings to the individuals; right now, most of the offers are local but are not relevant to me
FourSquare can add relationships with local businesses to offer specials or deals to frequent check-ins or Mayors — down to the specific Starbucks store or local hardware store.
The best discounts are for things you actually buy. Free web service Offermatic uses your credit card, through the same back-end as Mint.com, to offer 40-90 percent discounts on products similar to what you’ve already purchased.
If you’re not squeamish about providing financial information to financial scanning sites like Mint.com, Offermatic is a pretty sweet deal. You register your credit cards with Offermatic through their secure system, which then scans your purchases and spits back out high-discount offers from their advertisers, made to match your interests. You won’t necessarily get coupons for the exact stores you shop at, but the examples seem to be highly related.
Depending on how much you spend, you can also make up to $15 a year back per card (though, to be honest, we’re not about to spend $1,000 a month just to get $15 back at the end of the year, and we wouldn’t recommend you do either). But getting 40-90 percent off some pretty popular stores isn’t bad for a free service. For the folks on the fence about how Offermatic makes their cut, here’s what their FAQ has to say:
- If your service is free, how do you make money?
We make money by saving you money. We get a commission from the advertiser when our users purchase their offer through us.
- Do you sell my personal or individual data?
Never. When we send you an offer from one of our advertisers, it’s based on your anonymous purchase history. Advertisers do not know your name, email address, or location. Only if you choose to purchase an offer will that information be provided to the offer merchant so you can redeem the offer with them. We do not – and will not – provide or sell any personally identifiable information in order to present you an offer.
So, if you’re less than frightened about card-watching sites like Mint or Blippy, Offermatic is a deal you’ll want to take a closer look at.
brands are now what consumers say they are and what they tell their friends
•78.2% of Germans are irritated by advertising, only 24% actually still watches it (GfK Marktforschung)
•54% of US consumers avoids products & services which “overwhelm” with advertising (Yankelovich Partners)
•85% of Chinese stop watching TV during commercial breaks. More than half change the channel, while the rest do housework, eat, chat or use the bathroom. (McKinsey & Co.)
• 91% of consumers are likely to buy on reccomendation (source: http://www.slideshare.net/kameran/word-of-mouth-marketing-techniques-womm
Creating Buzz – Kameran Ahari Napa Consulting Group)
• Most influential information sources in purchasing electronic goods:WOM from friends & family 33%, newspaper coupons 25% magazines 4%, TV 4%, radio 3% (Source: CMO Council’s Retail Fluency Report, 2005)
Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.
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