It is no secret an all retailers are struggling and trying
to find new ways to get consumers back in the store. Everything from popup
shops, new emerging brands and designers, collaborations with celebrities and
influencers. All great ideas but the last few years shows that the success with
such is a flash in the pan. Here today gone tomorrow. Now off to try and
capture them again.
The current retail battles are happening in beauty. Sephora
with the Beauty Insider promotions, and Ulta with their 21 days of beauty. It’s
fascinating to watch. Beyond the 2 previously mentioned retailers, they all get
in the game somehow. Price matching
that was not a common practice 6 years ago, and is what stores are doing to
keep the sale from going elsewhere. They must do so to “stay competitive”. They’re
all chasing the same dollar. Consumers are getting the same deal everywhere. Super
convenient for consumers. Not so much for retailers. How do retailers make a
sale enticing enough to make people leave their home and head to the store?
Gone are the days of big traffic on the sale days. People waiting
to get in, long lines, and sell through. When you started seeing Macy’s
commercials for a 1 day sale, with a 1 day preview, twice a month, you kinda
know that the sale really isn’t anything special, and a sale just doesn’t cut
it anymore. No more wow factor, the excitement of snagging a huge deal. Now,
just the knowledge of if they miss that sale, they can make the next one in a
few weeks, leaves consumers no longer in a rush to shop.
Ulta’s 21 days of
beauty for years had been a big push for brands and cam really help boost those
numbers. Not so much anymore. More and more clients are staying home, setting
reminders on their phone, so they can snatch the deal they want. With the added
bonus of getting online only deals, and no price match in their B&M store.
Strange.
Clients are getting the product burnout. Too much of the
same thing over and over again. New, different, better is what most consumers
seek. So where is it? After the big promos of the year with Beauty Insider,
Sephora’s big day is Black Friday. $10-15 Deals day. Why these are so good for
B&M is they are unique to Black Friday. Special editions, special sets, and
special sized of already loved products (as I gaze at my last year’s FAB Ultra
Repair Cream black Friday steal… that’s a lot of cream.. and yes I’ll pick up
another this year). Happening during
holiday shopping rush is helpful, but these are things that typically aren’t available
the rest of the year. They go fast! That’s how you get attention and get people
in. Something Unique. And a killer steal.
Don’t get me wrong, 21 days is great. And consumers will
grab a few of their staples, and some will try new things. Ulta has a great
rewards program that allows you to earn money off your purchases, and coupons
galore. So really, a sale can happen for
you just about any day. No need to wait until official sale. Why would anyone rush out? Why would they
bounce from retailer to retailer when the sale price will be offered
everywhere?
Consumers are looking for a deal. They know when they are
coming too. How do retailers recapture the fire of promo days past?
No comments:
Post a Comment