Retail Pop-up Strategy: Freebies
You're missing an opportunity to extend the Shopper Moment if your retail popup strategy doesn't include a parting gift.
Yes, customers are looking for experiences. Experiences are more valuable than products. A post-popup freebie is an exception. It is more than a freebie.
What was once a simple giveaway can now be a Shopper Moment. You can make your freebie a token of appreciation for a time spent with your brand.
Shoppers show their appreciation when they get something for free. You can reward your generosity by incorporating a gifting component into your retail popup strategy.
THE SHOPPER WILL TALK ENTHUSIASTICALLY ABOUT HER GIFT.
According to research, customers are more likely to praise your brand than traditional advertising. It's also almost always less expensive. According to a Journal of Marketing article, 20% of shoppers who received a free item talked about it more. A freebie that was related to the product made them talk about it 15% more. Rebates and coupons didn't make any difference.
SHOPPERS CONCEIVE GETTING MUCH MORE NOW, OVER A DISCOUNT LATER.
Participants had the option of either 33% more coffee or 33% less coffee when they participated in a Journal of Marketing experiment. The discount is better in terms of the price per ounce, but the majority chose the first.
Problem is that math skills are not up to par when it comes to calculating percentages. Research found that the people believed a 33% increase of quantity and a 30% discount were equal. In fact, the discount amounts to 50% more unit price.
If shoppers don't understand or aren't accurate with the numbers, then they have to use their emotions to guide their decision-making. People see getting something extra or free as a benefit. A discount is a reduction in the amount of loss that they have to pay out of pocket. It is important to keep these things in mind when creating a retail pop up strategy.
SHOPPERS WILL BUY MORE, IF THERE IS MYSTERY.
Researchers at the University of Miami discovered that people are more likely to buy fun stuff if they get a gift-with-purchase. Researchers point out high-end perfume and makeup purchases that use lots of "free gift" promotions. These are called "affective", which researchers define as a person who buys it because she feels happy and good about herself.
A SHOPPER MAY FEELS OBLIGATED TO BUY ANOTHER GIFT.
Marketers who incorporate giveaways into their retail marketing strategies find that they can drive sales even though logic would dictate that retailers lose money. Marketers call this the reciprocity principle. Randy Garner, a professor at Sam Houston State University of behavioral science, stated that the feeling of being obliged to return a favor can occur even though we may not have asked for it in the first instance.
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