Article Summary
A recent survey reveals that 55% of consumers plan to prioritize products with the lowest prices in the coming months due to rising grocery costs and inflation. Brand loyalty is expected to decline as shoppers increasingly seek value and cheaper alternatives. While 41% of consumers are spending more to stick with familiar brands, 39% are opting for lower-cost options, and 13% are avoiding products affected by price hikes altogether. Retailers face challenges in balancing cost increases with maintaining customer loyalty, with many turning to incentives like cashback offers to attract value-driven shoppers. Despite these hurdles, 73% of retailers remain optimistic about meeting sales objectives, supported by increased marketing budgets.
Local Business Types for Broadcasters to Consider Contacting
- Discount Retailers: These businesses can promote their competitive pricing strategies to attract cost-conscious consumers.
- Cashback Platforms: Highlight their ability to provide incentives that appeal to shoppers seeking savings without compromising on quality.
- Outlet Stores: Advertise their role in offering high-quality products at reduced prices, catering to value-driven consumers.
Three Creative Campaign Ideas for Broadcasters to Consider
- Spotlight Affordable Options: Develop campaigns that showcase discount retailers’ ability to provide quality products at lower prices, appealing to budget-conscious shoppers.
- Feature Cashback Benefits: Create advertising that emphasizes cashback platforms’ role in helping consumers save money while maintaining access to preferred brands.
- Promote Outlet Bargains: Design campaigns that highlight outlet stores’ wide range of discounted products, attracting shoppers seeking the best deals.
This LBS Ad Intel summary is based on information from this article found on Chain Store Age.
