The recession has consumers looking for deals on the items they buy now more than ever. That means it’s even harder from brands to stand out amongst the buy-one-get-one-free offer and half price stands.
Knowing and understanding consumer behaviour can be at your advantage when planning a point of purchase decisions.
I recently read on Marketing Magazine’s website that point of purchase is expanding faster than internet advertising and has an expected annual growth rate of 21% in 2010. It seems brands are realising the importance of POP as about 70% of brand choices are made in-store, especially in supermarkets.
Not only is it harder to stand out these days, consumers are also more “brand promiscuous.” They seek out the best deal and will swap brands at the drop of a hat. Research has shown that 37% of people buy a brand for the first time because of in-store promotions.
Understanding that people are now harder to sell to and that they try to stick to shopping lists to prevent going astray, brands can tailor their POP to be more effective.
When designing a POP marketing plan, brands should ensure their objectives match with existing in-store activities and targets. Point of purchase needs to help and support in-store environments and blend seamlessly into every day shopping.
Disruption of the shopping experience isn’t effective. Attraction is better.
So, we know consumers are trying to save money and aren’t as loyal to brands. Businesses need to use these factors to their advantage and design a POP plan with these consumers in mind.