As economic worries start to hit home, shoppers are becoming more responsive to promotions than they were a year ago.
New research commissioned by promotional solutions company Valassis shows that 30% of consumers are seeking out promotions more than they were 12 months ago, with three-quarters of these attributing their actions to the rising cost of food and living.
Valassis says that a leading supermarket has also noted a sharp rise in the number of shoppers in its stores with calculators.
According to Valassis, brands are coming under similar pressure to consumers in terms of their marketing and promotional budgets. Says managing director Charles D’Oyly: “In the new climate brands must compete harder to win the sale and hold on to market share. However, brand managers need to invest their promotional budgets wisely. They have to ask themselves whether they’re running the right promotions to deliver the optimal return on investment from their promotional activity.”