Windows on evaluating promotions in the recession (Issue 05)

on evaluating promotions in the recession

21% of shoppers are making major changes to household spending 90% of shoppers are being prudent when shopping 38% of shoppers are downloading vouchers from the internet

CONTENTS

Over the last two editions of Windows we have been looking at the trends in attitudes and behaviours among shoppers as the economic situation has developed.

In this latest report we look to see what has changed in the last four months, as well as exploring the role of promotions in order to consider how brands and retailers can meet changing shopper needs.

B

ased on 1054 online interviews among the main grocery shopper for

The change in shopper attitudes

4

Vouchers come in from the cold!

8

Promotions – a blessing or a curse?

10

The secret of success

13

each household, and additional accompanied shopping interviews, we aim to provide a clear picture of how changing shopper attitudes and behaviours might affect your business thinking.

This ezine is designed to give you some of the overall themes and insights from our study.

If you would like further information, please email: promotions@shoppercentric.com

2

Windows 5

Windows 5

3

CONTENTS

Over the last two editions of Windows we have been looking at the trends in attitudes and behaviours among shoppers as the economic situation has developed.

In this latest report we look to see what has changed in the last four months, as well as exploring the role of promotions in order to consider how brands and retailers can meet changing shopper needs.

B

ased on 1054 online interviews among the main grocery shopper for

The change in shopper attitudes

4

Vouchers come in from the cold!

8

Promotions – a blessing or a curse?

10

The secret of success

13

each household, and additional accompanied shopping interviews, we aim to provide a clear picture of how changing shopper attitudes and behaviours might affect your business thinking.

This ezine is designed to give you some of the overall themes and insights from our study.

If you would like further information, please email: promotions@shoppercentric.com

2

Windows 5

Windows 5

3

The change in

shopper I

attitudes

So it seems that for each shopper who is feeling more confident, there is a shopper who is feeling the pain.

n January 2009 we took our first look at quantifying the impact of the recession on shoppers in the UK. At that time our research showed that only 4 percent of main grocery shoppers believed they wouldn’t be affected by the recession. Given the roll call of companies closing down, making redundancies or cutting salaries, it is perhaps a surprise to know that in April the proportion of shoppers feeling ‘safe’ is now 6 percent. This may seem a rather small shift, but extrapolated to the UK main grocery shoppers, this equates to over half a million shoppers feeling more confident than in January.

In our previous research in January we identified four key attitude groups among shoppers which we believe give a framework for understanding how far-reaching the impact of the recession is, and also an opportunity for businesses to consider how they tailor their in-store marketing, communication and promotions through this period. Measuring these four groups again in April the following patterns emerge: 1 Unaffecteds – 15 percent in April – up 2 percentage points since January.

Shoppers who seem confident that their situation or their existing spending patterns mean they won’t be affected by the recession.

However, we shouldn’t get carried away and see this as the sign of a green shoot. At the opposite end of the scale there has been an equivalent 2 percentage point increase in the proportion of shoppers who have had to make major changes to their household spending or are struggling to pay the bills.

4

Windows 5

2 Planners – 12 percent in April – down 3 percentage points since January.

Shoppers who haven’t been affected yet, but are making changes just in case.

The data shows that as the recession develops, shoppers are moving from one attitude group to another, but whereas we might have expected the traffic to be from the Unaffected end of the scale towards the Strong Reactors as the recession bites, it seems a degree of polarisation is occurring.

It is important, therefore, that the messages businesses put out to customers are both appreciative of the difficulties some face, but not so downbeat as to undermine the growing confidence at the Unaffecteds end of the spectrum.

3 Soft Reactors – 47 percent in April – down 1 percentage point since January.

These shoppers claim they have had to make changes to household spending because of the recession, but that so far these changes are small.

4 Strong Reactors – 26 percent in April – up 2 percentage points since January.

This is the group most seriously affected by the economic situation as they are those most likely to have suffered job losses, pay freezes, pay cuts or cuts in working hours.

Windows 5

5

The change in

shopper I

attitudes

So it seems that for each shopper who is feeling more confident, there is a shopper who is feeling the pain.

n January 2009 we took our first look at quantifying the impact of the recession on shoppers in the UK. At that time our research showed that only 4 percent of main grocery shoppers believed they wouldn’t be affected by the recession. Given the roll call of companies closing down, making redundancies or cutting salaries, it is perhaps a surprise to know that in April the proportion of shoppers feeling ‘safe’ is now 6 percent. This may seem a rather small shift, but extrapolated to the UK main grocery shoppers, this equates to over half a million shoppers feeling more confident than in January.

In our previous research in January we identified four key attitude groups among shoppers which we believe give a framework for understanding how far-reaching the impact of the recession is, and also an opportunity for businesses to consider how they tailor their in-store marketing, communication and promotions through this period. Measuring these four groups again in April the following patterns emerge: 1 Unaffecteds – 15 percent in April – up 2 percentage points since January.

Shoppers who seem confident that their situation or their existing spending patterns mean they won’t be affected by the recession.

However, we shouldn’t get carried away and see this as the sign of a green shoot. At the opposite end of the scale there has been an equivalent 2 percentage point increase in the proportion of shoppers who have had to make major changes to their household spending or are struggling to pay the bills.

4

Windows 5

2 Planners – 12 percent in April – down 3 percentage points since January.

Shoppers who haven’t been affected yet, but are making changes just in case.

The data shows that as the recession develops, shoppers are moving from one attitude group to another, but whereas we might have expected the traffic to be from the Unaffected end of the scale towards the Strong Reactors as the recession bites, it seems a degree of polarisation is occurring.

It is important, therefore, that the messages businesses put out to customers are both appreciative of the difficulties some face, but not so downbeat as to undermine the growing confidence at the Unaffecteds end of the spectrum.

3 Soft Reactors – 47 percent in April – down 1 percentage point since January.

These shoppers claim they have had to make changes to household spending because of the recession, but that so far these changes are small.

4 Strong Reactors – 26 percent in April – up 2 percentage points since January.

This is the group most seriously affected by the economic situation as they are those most likely to have suffered job losses, pay freezes, pay cuts or cuts in working hours.

Windows 5

5

In January we identified four shopper strategies – based on shoppers’ agreement with a series of statements: • Prudence - Avoiding waste / making things go further

In addition to the shifts in attitudes, we’ve also seen a consolidation in the strategies being adopted by shoppers (as defined in the box to the left). The primary strategy and the one that shows greatest growth is that of Prudence – now 90 percent of shoppers (up 4 percentage points since January). This sense of learning how to manage the household budget, in the way our mothers and grandmothers had to, is a strategy that resonates across the attitude groups. It also incorporates some of the macro trends such as environmental friendliness and a return to more traditional values.

• Economising - Being more price sensitive/ looking for price cutting promotions • Avoidance - Cutting back on temptation/ more planning of what they need before a shopping trip • Store Switching - Avoiding expensive shops/ going where the deals are January 2009

Prudence Economising Avoidance Store Switching

April 2009 86 90

Prudence is a strategy we identified in January as being likely to have a long term impact beyond the recession, and its continued growth since then supports this.

92 88 87 88

The fusion of attitudes and strategies is demonstrated by the fact that those who are least affected by the recession are now less likely to be adopting the four strategies than we observed in January, whilst those most affected by the recession are increasing their adoption.

In comparison the price-based strategy of Economising shows a fall – now 88 percent (down 4 percentage points since January).

Clearly it is an important, albeit obvious, strategy for shoppers but it is also a short term reaction to the current situation. At present much of the in-store point of sale focuses on price and yet the drop in Economising, and the increase in Prudence highlights that price point is not the only platform for communicating with shoppers or driving sales.

The key take-out for businesses is that if they understand the attitudes and strategies among their shoppers they are better placed to develop the marketing, communication and promotional platforms that will resonate – and encourage – purchasing.

Of the two remaining strategies identified by our research, the shifts since January are as follows: • Avoidance – now 88 percent (up 1 percentage point since January) • Store Switching – now 83 percent (down 1 percentage point since January)

84 83

6

Windows 5

Windows 5

7

In January we identified four shopper strategies – based on shoppers’ agreement with a series of statements: • Prudence - Avoiding waste / making things go further

In addition to the shifts in attitudes, we’ve also seen a consolidation in the strategies being adopted by shoppers (as defined in the box to the left). The primary strategy and the one that shows greatest growth is that of Prudence – now 90 percent of shoppers (up 4 percentage points since January). This sense of learning how to manage the household budget, in the way our mothers and grandmothers had to, is a strategy that resonates across the attitude groups. It also incorporates some of the macro trends such as environmental friendliness and a return to more traditional values.

• Economising - Being more price sensitive/ looking for price cutting promotions • Avoidance - Cutting back on temptation/ more planning of what they need before a shopping trip • Store Switching - Avoiding expensive shops/ going where the deals are January 2009

Prudence Economising Avoidance Store Switching

April 2009 86 90

Prudence is a strategy we identified in January as being likely to have a long term impact beyond the recession, and its continued growth since then supports this.

92 88 87 88

The fusion of attitudes and strategies is demonstrated by the fact that those who are least affected by the recession are now less likely to be adopting the four strategies than we observed in January, whilst those most affected by the recession are increasing their adoption.

In comparison the price-based strategy of Economising shows a fall – now 88 percent (down 4 percentage points since January).

Clearly it is an important, albeit obvious, strategy for shoppers but it is also a short term reaction to the current situation. At present much of the in-store point of sale focuses on price and yet the drop in Economising, and the increase in Prudence highlights that price point is not the only platform for communicating with shoppers or driving sales.

The key take-out for businesses is that if they understand the attitudes and strategies among their shoppers they are better placed to develop the marketing, communication and promotional platforms that will resonate – and encourage – purchasing.

Of the two remaining strategies identified by our research, the shifts since January are as follows: • Avoidance – now 88 percent (up 1 percentage point since January) • Store Switching – now 83 percent (down 1 percentage point since January)

84 83

6

Windows 5

Windows 5

7

Vouchers come in from the

cold!

O

• 47 percent of shoppers are buying into vouchers or coupons more nowadays • 45 percent of shoppers are buying into loyalty card schemes more nowadays

ne of the most interesting aspects of this recession is the way in which it appears to be accelerating some of the macro trends that have been emerging among shoppers and consumers in recent years. In our last report we identified the link between Prudence and the macro trends relating to the environment and nostalgia.

Use nowadays % Total Sample (1054)

This is noteworthy on two levels: 1. There is a fundamental shift in mindset from decisions being all about ‘I want it now’ as in the past, to an emerging willingness to be ‘happy to save for something I want’

In this latest data we’ve considered the role of promotions, and one of the developing trends in relation to promotions that’s being driven by Prudence is the return of vouchers.

2. The fact that such mechanics allow retailers and brands to create more long term or in-depth conversations with shoppers helps to build brand loyalty as well as achieving a short term boost to sales.

Shoppers are also taking note of offers in magazines, and the increase in local area marketing by stores is also being lapped up.

The sources used to access vouchers is also very revealing in terms of potential trends:

Loyalty card

63

Product packs

52

Newpaper/magazine

47

Delivered leaflet

43

Internet download Credit card mailshot

Perhaps the biggest news, however, is the role of new media, with 38 percent of shoppers sourcing vouchers as downloads from the internet nowadays, and 78 percent of shoppers claiming this is a change in behaviour from 12 months ago. And this behaviour crosses the attitudinal spectrum: “I use moneysavingexpert.com and check the voucher sites” (Soft Reactor)

38 10

“I downloaded some vouchers and gave them out to friends” (Planner)

Loyalty card mailshots or terminals in-store enable the retailers to target shoppers based on their known shopping behaviour, but also shows a willingness from shoppers

This trend first emerged in the USA, but appears to be developing in the UK. After years of wanting promotions that reward on the spot, UK shoppers are reconnecting with those promotions that offer a delayed reward.

to put the effort in to play the loyalty game.

8

Windows 5

Windows 5

9

Vouchers come in from the

cold!

O

• 47 percent of shoppers are buying into vouchers or coupons more nowadays • 45 percent of shoppers are buying into loyalty card schemes more nowadays

ne of the most interesting aspects of this recession is the way in which it appears to be accelerating some of the macro trends that have been emerging among shoppers and consumers in recent years. In our last report we identified the link between Prudence and the macro trends relating to the environment and nostalgia.

Use nowadays % Total Sample (1054)

This is noteworthy on two levels: 1. There is a fundamental shift in mindset from decisions being all about ‘I want it now’ as in the past, to an emerging willingness to be ‘happy to save for something I want’

In this latest data we’ve considered the role of promotions, and one of the developing trends in relation to promotions that’s being driven by Prudence is the return of vouchers.

2. The fact that such mechanics allow retailers and brands to create more long term or in-depth conversations with shoppers helps to build brand loyalty as well as achieving a short term boost to sales.

Shoppers are also taking note of offers in magazines, and the increase in local area marketing by stores is also being lapped up.

The sources used to access vouchers is also very revealing in terms of potential trends:

Loyalty card

63

Product packs

52

Newpaper/magazine

47

Delivered leaflet

43

Internet download Credit card mailshot

Perhaps the biggest news, however, is the role of new media, with 38 percent of shoppers sourcing vouchers as downloads from the internet nowadays, and 78 percent of shoppers claiming this is a change in behaviour from 12 months ago. And this behaviour crosses the attitudinal spectrum: “I use moneysavingexpert.com and check the voucher sites” (Soft Reactor)

38 10

“I downloaded some vouchers and gave them out to friends” (Planner)

Loyalty card mailshots or terminals in-store enable the retailers to target shoppers based on their known shopping behaviour, but also shows a willingness from shoppers

This trend first emerged in the USA, but appears to be developing in the UK. After years of wanting promotions that reward on the spot, UK shoppers are reconnecting with those promotions that offer a delayed reward.

to put the effort in to play the loyalty game.

8

Windows 5

Windows 5

9

Promotions – a blessing or a

In our quantitative data (see below) it is clear that the promotions that have seen most growth in shoppers’ minds continue to be those which give them an immediate return, but without encouraging them to spend more than planned – BOGOFs and money off single items.

curse?

A

79

Money off single items

Promotions which encourage shoppers to spend more are increasingly rejected. “it’s fine if you’re spending that amount anyway, but I’m certainly not going to spend lots to get a few quid off something I don’t need in the first place”, “I take enough cash out for what I need”

This clearly relates to the efforts being made by retailers to be seen to be supporting shoppers in the recession, which for some will be seen as a blessing. It appears, however, that a tipping point has been reached such that for a proportion of shoppers this supposed blessing is becoming a curse: “they’re all at it, but Tesco is particularly bad”. The feeling was that in some retailers the promotional activity was becoming a barrier to purchase:

Shoppers are no longer taking promotions on trust. “I get really irritated when you work it out and you’re actually not saving that much”, “Becks box of 18 bottles was on promotion, but 3 boxes of 6 bottles worked out cheaper – you have to keep your wits about you these days”

10

Driving functional purchasing

Buy one get one free

The sheer amount of promotions can be overwhelming. When faced with a display which includes ‘4 for £3’, ‘Brand A for £1’, and ‘BOGOF’ what should be an easy habitual purchase becomes more convoluted: “It makes it really hard to decide what to buy – I mean just exactly which is the best deal?”, “it would take days to work out the best offer!”

All our respondents talked about the increase in promotions “in the last few months”.

What is more, the key to preventing promotions becoming barriers is simplicity – not overloading the shelf with promotions, and ensuring the value or saving of the promotion is clear.

Promotions buying more of nowadays % Total Sample (1054)

Windows 5

53

Vouchers / coupons

47

Loyalty card offers

45

2 for £x / xp Groups of products Offers including free gift / competition

One of the issues we’ve noticed emerging among shoppers is an increase in functional purchasing – particularly in those categories that are heavily price promoted. Sometimes these can be highly emotive categories, and yet shoppers are beginning to talk about them as if they are buying commodities.

“They’re all the same these products, so it’s whatever is the best offer”.

69

3 for 2

s part of our research we spent time with shoppers in-store to understand how the environment was affecting the choices they were making, with particular reference to promotions.

• And men would be more interested than women in a 3 for 2 on alcohol or bread!

36 21 11

The desire among retailers to offer the best price solution to the recession is potentially undermining categories, driving more functional purchasing based purely on price, rather than an appreciation of brand benefits.

The rush to put as many promotions in-store as possible is not the way to respond to shopper needs at this time. Businesses should see promotions as one part of the tool kit to encouraging shoppers to spend.

And just because one promotional mechanic works in one category or for one set of shoppers, it shouldn’t be assumed it is the solution for every category or every shopper:

Our data suggest that the retailers’ price focus is driving price awareness among shoppers at a time when price is not the only solution to managing household spending.

• Whilst 64% of shoppers would prefer a BOGOF promotion on chocolate, only 45% of shoppers prefer this mechanic on fresh food

Arguably the time has come for retailers to start to emphasise other differentiating factors beyond price in order to better connect with shoppers needs. After all we all know as shoppers that we spend most when we are in an environment that tempts us.

• Whilst 18% of shoppers are interested in vouchers / coupons on alcohol, 29% are interested in them on toiletries

Windows 5

11

Promotions – a blessing or a

In our quantitative data (see below) it is clear that the promotions that have seen most growth in shoppers’ minds continue to be those which give them an immediate return, but without encouraging them to spend more than planned – BOGOFs and money off single items.

curse?

A

79

Money off single items

Promotions which encourage shoppers to spend more are increasingly rejected. “it’s fine if you’re spending that amount anyway, but I’m certainly not going to spend lots to get a few quid off something I don’t need in the first place”, “I take enough cash out for what I need”

This clearly relates to the efforts being made by retailers to be seen to be supporting shoppers in the recession, which for some will be seen as a blessing. It appears, however, that a tipping point has been reached such that for a proportion of shoppers this supposed blessing is becoming a curse: “they’re all at it, but Tesco is particularly bad”. The feeling was that in some retailers the promotional activity was becoming a barrier to purchase:

Shoppers are no longer taking promotions on trust. “I get really irritated when you work it out and you’re actually not saving that much”, “Becks box of 18 bottles was on promotion, but 3 boxes of 6 bottles worked out cheaper – you have to keep your wits about you these days”

10

Driving functional purchasing

Buy one get one free

The sheer amount of promotions can be overwhelming. When faced with a display which includes ‘4 for £3’, ‘Brand A for £1’, and ‘BOGOF’ what should be an easy habitual purchase becomes more convoluted: “It makes it really hard to decide what to buy – I mean just exactly which is the best deal?”, “it would take days to work out the best offer!”

All our respondents talked about the increase in promotions “in the last few months”.

What is more, the key to preventing promotions becoming barriers is simplicity – not overloading the shelf with promotions, and ensuring the value or saving of the promotion is clear.

Promotions buying more of nowadays % Total Sample (1054)

Windows 5

53

Vouchers / coupons

47

Loyalty card offers

45

2 for £x / xp Groups of products Offers including free gift / competition

One of the issues we’ve noticed emerging among shoppers is an increase in functional purchasing – particularly in those categories that are heavily price promoted. Sometimes these can be highly emotive categories, and yet shoppers are beginning to talk about them as if they are buying commodities.

“They’re all the same these products, so it’s whatever is the best offer”.

69

3 for 2

s part of our research we spent time with shoppers in-store to understand how the environment was affecting the choices they were making, with particular reference to promotions.

• And men would be more interested than women in a 3 for 2 on alcohol or bread!

36 21 11

The desire among retailers to offer the best price solution to the recession is potentially undermining categories, driving more functional purchasing based purely on price, rather than an appreciation of brand benefits.

The rush to put as many promotions in-store as possible is not the way to respond to shopper needs at this time. Businesses should see promotions as one part of the tool kit to encouraging shoppers to spend.

And just because one promotional mechanic works in one category or for one set of shoppers, it shouldn’t be assumed it is the solution for every category or every shopper:

Our data suggest that the retailers’ price focus is driving price awareness among shoppers at a time when price is not the only solution to managing household spending.

• Whilst 64% of shoppers would prefer a BOGOF promotion on chocolate, only 45% of shoppers prefer this mechanic on fresh food

Arguably the time has come for retailers to start to emphasise other differentiating factors beyond price in order to better connect with shoppers needs. After all we all know as shoppers that we spend most when we are in an environment that tempts us.

• Whilst 18% of shoppers are interested in vouchers / coupons on alcohol, 29% are interested in them on toiletries

Windows 5

11

The

In these difficult times shoppers are making individual choices based on their own household needs, and also their own definition of what is important to their quality of life.

A promotional strategy should not only be purely about which mechanic to use, but also a layering process to achieve a robust promotional plan. This should be tailored to meet shopper and business needs, in the context of the specific retail environment in order to maximise the opportunity.

Marketing strategies need to reflect these choices: businesses need to consider the strategies that will support or encourage shoppers in their category, and whether promotions are one of the appropriate tools.

If promotions are appropriate, then which mechanic(s) to use should be based on an understanding of shopper’s mindset and needs specific to the category.

Not forgetting that business needs can extend beyond a short term sales boost if a brand message was incorporated into the plan. Of course, this assumes businesses understand the shopper needs in the first place!

Business objective

Layering the Ideal Promotion Shopper needs in that category in that channel

of success

Shoppers are most likely to spend money when they are engaged by the offer in-store. That engagement can be part of the nature of the product category, for example in confectionery or alcohol, or it can be manufactured by the store environment - an example here being the ‘Dine in for £10’ campaign in M&S and Waitrose.

Coming to terms with this recession is about using common sense, applying good judgement and being careful to manage resources – the dictionary definition of Prudence! Shoppers

Engagement is not achieved by simply stocking the shelves or focusing on price point – that simply drives functional behaviour as we’ve seen time and again in recent research at a category level in-store. Furthermore since a lack of engagement with household shopping appears to be inherent among our Unaffecteds group, it should be of concern that the very group

things they want – this is the beauty of the choice that is available to them.

are not cutting back on the things they want, they are cutting back the excess, or the peripherals in order to keep the

Businesses need to put effort into encouraging shopping and to be more discerning in their marketing in the same way that shoppers are becoming more discerning. This means understanding the options available to answer their specific business needs, and choosing the solution that aligns those business needs with the needs of the shopper.

likely to be most open to spending at the moment is the one least likely to be engaged in-store.

Promotional mechanic

+ + Brand Equity message (if appropriate) = Tone of communication

“It is not the strongest of our species who survives, or the most intelligent, but the one who is most responsive to change” Charles Darwin, On the Origin of

Let’s also be clear, this is not the ‘Age of Austerity’. In its dictionary definition austerity means ‘severity, plainness, an act of self denial’.

There is no doubt that tough decisions are being made, but shoppers still want a good quality of life, still want to indulge and have aspirations.

Maximum opportunity

12

secret

Windows 5

Windows 5

Species, 1859.

13

The

In these difficult times shoppers are making individual choices based on their own household needs, and also their own definition of what is important to their quality of life.

A promotional strategy should not only be purely about which mechanic to use, but also a layering process to achieve a robust promotional plan. This should be tailored to meet shopper and business needs, in the context of the specific retail environment in order to maximise the opportunity.

Marketing strategies need to reflect these choices: businesses need to consider the strategies that will support or encourage shoppers in their category, and whether promotions are one of the appropriate tools.

If promotions are appropriate, then which mechanic(s) to use should be based on an understanding of shopper’s mindset and needs specific to the category.

Not forgetting that business needs can extend beyond a short term sales boost if a brand message was incorporated into the plan. Of course, this assumes businesses understand the shopper needs in the first place!

Business objective

Layering the Ideal Promotion Shopper needs in that category in that channel

of success

Shoppers are most likely to spend money when they are engaged by the offer in-store. That engagement can be part of the nature of the product category, for example in confectionery or alcohol, or it can be manufactured by the store environment - an example here being the ‘Dine in for £10’ campaign in M&S and Waitrose.

Coming to terms with this recession is about using common sense, applying good judgement and being careful to manage resources – the dictionary definition of Prudence! Shoppers

Engagement is not achieved by simply stocking the shelves or focusing on price point – that simply drives functional behaviour as we’ve seen time and again in recent research at a category level in-store. Furthermore since a lack of engagement with household shopping appears to be inherent among our Unaffecteds group, it should be of concern that the very group

things they want – this is the beauty of the choice that is available to them.

are not cutting back on the things they want, they are cutting back the excess, or the peripherals in order to keep the

Businesses need to put effort into encouraging shopping and to be more discerning in their marketing in the same way that shoppers are becoming more discerning. This means understanding the options available to answer their specific business needs, and choosing the solution that aligns those business needs with the needs of the shopper.

likely to be most open to spending at the moment is the one least likely to be engaged in-store.

Promotional mechanic

+ + Brand Equity message (if appropriate) = Tone of communication

“It is not the strongest of our species who survives, or the most intelligent, but the one who is most responsive to change” Charles Darwin, On the Origin of

Let’s also be clear, this is not the ‘Age of Austerity’. In its dictionary definition austerity means ‘severity, plainness, an act of self denial’.

There is no doubt that tough decisions are being made, but shoppers still want a good quality of life, still want to indulge and have aspirations.

Maximum opportunity

12

secret

Windows 5

Windows 5

Species, 1859.

13

CONTACT Please email: promotions@shoppercentric.com or visit our web site at: www.shoppercentric.com

This ezine contains just some of the themes that have come out of our new research on evaluating promotions in the recession.

We have more insights and implications available via a presentation.

To arrange a meeting to see this presentation, please email us at: promotions@shoppercentric.com Windows 5

Windows 5

CONTACT Please email: promotions@shoppercentric.com or visit our web site at: www.shoppercentric.com

This ezine contains just some of the themes that have come out of our new research on evaluating promotions in the recession.

We have more insights and implications available via a presentation.

To arrange a meeting to see this presentation, please email us at: promotions@shoppercentric.com

Reissued September 2009

Windows 5

Windows 5