Business Reporter: Offering steep price reductions without discrediting the brand
Why personalised discounts can convert more customers
LONDON, UNITED KINGDOM, February 5, 2024 /EINPresswire.com/ — In an article published on Business Reporter, Aimondo, a provider of pricing solutions talks about the findings of the survey the company has conducted in collaboration with market research agency PeopleFish, which has concluded that discounts are not as attractive to consumers as retailers may think. While there is nothing surprising about the majority of consumers dismissing unknown brands’ adverts that offer them too-good-to-be-true discounts, it’s counterintuitive how the same consumers respond when established brands dangle huge sales. Instead of jumping at the opportunity to buy items from their favourite band when there is a steep price drop, they tend to receive the news of these discounts with even more caution than in the first scenario. In the survey, 52 per cent of the respondents said they would still investigate the authenticity of the website or even report it as a potential scam if it was a recognised brand – only about ten per cent less than the same figure for brands respondents never heard of.
Geopolitical shifts, changing market conditions in the wake of the pandemic, as well as the need to satisfy deal-hungry customers have led to dropping revenues both in physical retail and e-commerce. The survey, however, also suggests that there are other factors too that can generate customer loyalty, such as convenient returns and the quality of customer service. To avoid price reductions that raise doubts in customers – the survey has found – retailers should adopt personalised pricing practices rather than offering blanket discounts.
To learn more about how consumers view personalised pricing, read the article.
About Business Reporter
Business Reporter is an award-winning company producing supplements published in The Guardian and City AM, as well as content published on Business Reporter online hubs on Bloomberg.com, Independent.com, Business Insider Germany and Le Figaro, delivering news and analysis on issues affecting the international business community. It also hosts conferences, debates, breakfast meetings and exclusive summits.
About Aimondo
Aimondo is a leading European provider of comprehensive pricing solutions, designed to empower pricing managers, eCommerce managers, category managers, sales teams, and data analysts with essential market intelligence and user-friendly tools. Its platform specialises in advanced pricing analytics, efficient price management, and the strategic handling of discounts and promotions.
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