In tough times, retailers are often advised not to cut back on advertising and to improve targeted marketing to key customer segments.
Picture Business wholeheartedly supports that strategy because we’ve seen it work on one of our cheapest employees, someone who especially hates to spend money on things that create more work, such as home improvement projects. That would be me.
My saga began with a good, old-fashion circular that lured me into Home Depot. At the front of the store I saw a display that featured floor tile for 72 cents a square foot, almost half the regular price.
Yes, the economy is scary but how could I pass up such a great deal. It got even sweeter when the woman at the service counter told me that current members of the military receive 10 percent off their entire purchase. When I told her I wasn’t in the military, she said not to worry about it; the cashier wouldn’t grill me. My guilt quickly subsided.
When I returned to the display, I notice Home Depot did something all smart retailers should do, especially in today’s environment. It had stacked every “accessory” I’d need to complete the job: tubs of premixed cement, chalk lines, trowels, buckets, etc… I was looking at such huge savings on the core product (the tile) that I don’t even bother checking the prices of the accessories.
My bill came out to roughly $560 for just about everything I need to tile a 400-square-foot basement, almost three times less than if I bought the materials six months ago. I was feeling so good I even tipped a clerk $20 for helping me load my car.
The whole scenario – a compelling circular, smart merchandising, product bundling, additional discounts, helpful sales people – was a classic example of a strategy that has and will work for almost any retailer, whether they sell home improvement or imaging products.
The downside is that no longer have an excuse not to tile. The upside is that I’ll have a nice space in my home to spend future holidays in taking lots and lots of pictures. Keep those circulars coming.
