Victoria’s Secret. Happy birthday to me! $10 off my in-store purchase.
Express. $20 off my purchase. $30 if I spend $75.
Saks Fifth Avenue. $25 dollars off my $100 purchase.
As a “recession-ista,” I’m not about to turn these discounts down. They mean I get stuff I may not have purchased otherwise. Here’s what I mean:
- Underwear was not on my mind, but now that I can get the 5 for $25 deal for a mere $15, I decided to go ahead and make the purchase.
- I haven’t shopped at Express in ages, but I need a new dress for the aforementioned birthday. Because of the discount, they will be my first stop. I may not buy from them, but I sure will try. I want to pay $45 for $75 worth of dress.
- I need some MAC makeup. I had planned to go to the MAC store sometime this week, but now I’ll use the Saks coupon. I’ll probably buy more than I had intended because…well, it’s free-ish.
For the most part, I’m not altering my purchases, only WHERE and WHEN I make them. Some recent research supports my personal behavior:
Online. 68% of survey respondents said online coupons are a major factor in influencing purchases.
Mobile. 67% of heavy smart phone using women are interested in receiving mobile coupons or vouchers.
In-store. 81% percent of consumers say it’s fun to see how much they can save using a loyalty card or coupon.
Fun? That’s right, retailers. Saving has become a leisure sport.
This is a win-win situation. By offering women a coupon or discount, you are giving them a reason to visit your store. At the same time, you haven’t actually marked your merchandise down. The product retains its intrinsic value. You get more traffic and in turn build loyalty. Sunshine! Warm fuzzies all around! You get the idea.
So here’s the moral of the story: even after the Recession ends, women are going to be more cautious with their funds. As a retailer, you’d be wise to “buy” their loyalty.