Here's something to think about as you go about your shopping this weekend.
Researchers in Australia recently found that women between 18 and 26 years old were less likely to buy a product in a store if they thought the clerk was more attractive then they were.
Personally, I don't care how attractive they are as long as they scan all my coupons. But that's just me.
You can read about it here.
"Discounting stinks."
That's how this story from BusinessWeek begins, and you know that got my attention.
But in all, I actually understand where the author is coming from. Discounting too much can de-value your brand if you're a retailer. But many in these tough economic times feel compelled to discount till they're blue.
If you're a retailer, read the story for some interesting tips on offering effective discounts. And if you're a shopper, read the story to become a smarter shopper.
Local restaurant marketing guru Joel Cohen made me laugh with a recent post on his Restaurant Marketing blog.
In it, he was complaining about hosts and hostesses at restaurants who greet his family of three with "Three?" rather than some version of "Welcome to Restaurant X" or "How are you doing?" or even "Hello." I'm glad to know I'm not the only one who pays attention to these things.
Here's an excerpt from his post, titled "My Name is Not Three."
I know you can count. But my wife, my daughter and I are not numbers. Possibly much to your surprise, we are people. People that have loyalties; people that can spread good “gossip” about your restaurant and we are also generous tippers. Yes, we know you can count and I know you need to know how many are in our party so you can seat us at the proper table, but it would be nice if, and especially when it’s so obvious there are three of us, to say "Thanks for joining us tonight for dinner. We really appreciate it."
When I was a kid, I used to have my dad drop me off at the mall and I would stay there for hours, even if I only had a few bucks in my pocket. (Can you tell I was always destined to cover retail?)
But apparently, there are lots of people like me who just like the act of going to the mall. This story from the Chicago Tribune says that mall traffic has rebounded to "pre-recession" levels even though people aren't spending as much. How about you? Do you like to window shop? Or are there other reasons for spending some time at the mall, even if you aren't buying?
To be sure, credit card fees are a hot topic for consumers. But you may not be aware that there is also a war raging between merchants and credit card companies over the fees the merchants are charged for processing credit card payments.
If you think that's something you shouldn't bother learning about, think again. The so-called "interchange fees" have a direct impact on your life. If they get too high, they will force many retailers to raise prices. Or, you may see a proliferation of businesses that charge a higher price for those paying with credit or post a sign saying "minimum transaction for credit payment is $XX."
Read this excellent story by the New York Times on the topic.
I love studies that try to analyze the way people shop, like this one detailed by Hub Magazine.
The study divided shoppers into three main categories:
Shoptimizers are most likely to be influenced by "pre-shopping stimuli" like, say... coupons.
Mainstreeters do less planning and are more influenced by location, convenience and price.
Carefrees tend to ignore prices and buy what they like.
Bet you can guess what I am....
I have been amazed over the past decade or so as stores have continuously expanded their selections of shampoos, deodorants, breads, sodas and snacks. It seems there are hundreds of varities for some items.
Well now it seems that some retailers are finally asking how much is too much. I was fascinated by this Wall Street Journal story about stores that are experimenting with a less is more approach.
What do you think? Do you like all the choices, or do you think there are too many options?
British retailer Tesco has started a new initiative to try to stop shoplifting of .... cheese.
The company has started to put those little magnetic strips often found on CDs, razors and other high-value items on offerings in its cheese case and other grocery items. If the strips are not deactivated at the register, they will set off the store's security system.
You can read about it here...
It is not surprising but still upsetting that coupon fraud is on the rise. But with the economy still slow and more people exploring the use of coupons, I suppose it's predicatable.
CNN Money had an interesting story on the rise in coupon fraud recently. I encourage you all to do the right thing and not engage in fraudulent activity. While there are lots of coupons for free items that are legit like the Uncle Ben's rice pouch coupon two weeks ago, remember that if it seems fishy, it very well may be. Here's a post with some basic guidelines on spotting fakes.
For those of you who have ever wondered what happens to your coupons once you hand them over at the register, here's an interesting explanation about coupon redemption.
And, while I'm on the topic, here's an interesting explanation from Coupon Info Now about why coupons say things like their actual value is 1/100 of a cent.
I know, I'm a retail dork...
Have you ever wondered why a coupon's legal copy states, "cash value 1/20th cent" or "cash value 1/100th cent?" The answer dates back to the days of the Great Depression. During that time, food was rationed through the use of food stamps. Greedy merchants took advantage of the situation by raising the price of goods, thereby inflating the value of stamp books. As a result, some state governments stepped in and, to make things fair, declared that all stamps and anything else used to decrease the price of a product (including coupons), should have a common value. In some states, these laws remain in effect today. Therefore, to avoid having to print multiple versions of the same coupon, marketers simply include the "1/20th cent" or "1/100th" language on all their coupons.