Power Shopping. The Deal Seeking Shopper. The Challenge.
by Tom Redd
Today retailers have more tools than ever that can help them to increase store/web site traffic, lift sales and profits and own more shopper mindshare (which will get them to that wallet share). One promotional tool that retailers are “all over” is couponing. Coupons are hip and they are becoming and expected shopping tool by many people – especially Power Shoppers. Power Shoppers are the Deal Seekers and we always check the paper or check online for good coupons before we head out to shop. Deal Seekers look for ways to purchase products for great prices that no one can beat. This is what we call “The CHALLENGE”. Here is a real life example of Power Shopping, Deal Seeking, and The Challenge. Enjoy!
The Challenge of the Deal
Just last weekend a major grocer in our area was running a coupon promo that lifted the value of every coupon to $1.00. So my 25 cents off coupons were now worth $1.00. They even applied this to competitor-specific coupons valid!
In a usual “make conversation with my wife”, I rambled on about the power of a promo effort like this coupon program and how well it aligned with my Power Shopping nature and style. Was she listening? Who knows? So I rambled on and on. Finally, she looked at me and said – “OK Mr. Power Shopper, let’s see what you can do with this ‘wild promo effort’. Here is my shopping-list, now go be Mr. Power and buy all of this for less than $100”. She shoved the list to me and that was the moment, the gauntlet had been thrown! The Deal Seeking Shopper had been CHALLENGED! Let the game begin!
Preparing for the Battle
Excitedly, I started to attack this challenge from the COUPON side and located all of my Power Shopper weapons – the newspaper, circulars, flyers, mailers, and more. These are promotional tools that I keep and review before battle (power shopping). I mapped the attack pack of promos against my wife’s grocery list – wow! – lots of solid money saving matches between her list and my coupon attack pack! I also packed in some extra coupon power for some items – this is where I can leverage the BOGO coupon and the store special deal. Last, I jumped online and grabbed some coupons from the CPG provider websites. Their sites are loaded with coupons!
To the Battlefield
I raced off to the store, slide into a parking spot , and walked into the store. As I slowly walked through the many, many aisles I matched the best coupons to the right products – thinking brand, price, size, and all the while pondering “what was this stuff for?” (My wife cooks a lot with foods that I cannot even pronounce). I kept things organized and moved through check-out and presented my pile of coupons to the associate (who did not smile).
After loading the six bags into my car, I looked at the receipt and confirmed that couponing today is really worth the shopper’s effort and also an area that retailers need to leverage more creatively and gain the most traffic, sales, and margin lift from their efforts using the best promo technology available today.
Last, I scanned the checkout receipt and confirmed that I paid only $73.56. The total before coupons was $134.66. I had saved an amazing $61.10 by using coupons. I had won the deal challenge! The Power Shopper lives on!
Well this shopping event re-confirms what we chant here at SAP – retailers, their shoppers, and their suppliers can all win by using the solutions that center on creating a shopping experience that their shoppers enjoy, value and share with others.
Hey, did I tell you about the deals I landed on my last trip to the Mall….