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April 24, 2007

What is the best offer to drive traffic at retail?

When developing and executing an on-site retail event or promotion, what is the best motivator to build traffic? Through market research Ovation Marketing conducted in September 2006 (450 respondents from across the country participated), we found that the sure-fire winner was a discount price offer. The types of offers and response (% is based on "likely" and "most likely" to influence me to purchase) break down as follows:

  • Discount Price (88%) 
  • Gift With Purchase or Trial (45%) 
  • Sweepstakes (37%) 
  • In-Store Contests (10%) 
  • Charity Tie-in (8%) 
  • In-Package Promotion (5%) 

Knowing that many companies would prefer not to discount the price of their product unless absolutely necessary, a gift with purchase or sweepstakes offer may be the best way to go to drive traffic at retail, without compromising your brand.