- Promotions drive between 10-50% of sales and store traffic annually.
- They run thousands of promotions every year, from online display ads to leaflets to loyalty club offers.
- They struggle to analyze and understand which promotions are driving sales and traffic and which are simply costing the business.
Retailers run so many different promotions in so many channels, with so much riding on their success, that actionable insights into promotion performance are essential. One of the most impactful things any retailer can do to improve business performance is to identify and phase out ineffective promotions and double down on those that create real value.
Having worked with a diverse group of retailers helping overcome promotion challenges and measure effectiveness, we’ve seen some definite patterns emerge. Based on that experience, we want to share three typical promotion challenges – and how to solve them.
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