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We worked with Shelly Banjo from the Wall Street Journal on a piece about how retailers should use discounts. The Wall Street Journal added a piece of consumer research to accompany the article that was very interesting.
They asked what email headline would get consumers to open an email from a retailer.
Consumers agreed that they are most likely to respond to an email that is advertising a specific (read: relevant) item on sale, not to generic discounts....
Consumers respond to an email that is advertising a specific (relevant to them) item on sale, not to generic discounts.
Even a modest discount will get a shopper to buy, as long as it is for the right product.
Retailers who differentiate discounts on a shopper-by-shopper basis will experience twenty percent greater profits.
75% of consumers demand some form of personalization by retailers.
Delivering value means delivering the highest relevancy, not necessarily the highest discounts.