Discount Coupons just not working for some retailers anymore
San Francisco, CA -- (SBWIRE) -- 09/10/2012 -- Like many Americans, Joelle Daddino is also fixated with sales and she simply refuses to shop any place that doesn’t have any discount offers, according to NZHerald.co.nz.
During these times of recession, retailers had many sales and coupons to hand out in order to trap as much cash as they could, since it helps them reel in more Americans to their stores.
But now this strategy has backfired since the annual profit of US retailers has been halfed between 2006 and last year, according to a survey. Hence, big chains like J.C. Penney and Lowe's are trying their level best to take sales addicted customers off of sales.
In fact, early this year, nearly three-quarters of 1,000 shoppers surveyed by consumer research firm, America's Research Group, said
“It would take discounts of at least 50 per cent to get them to buy a given item. That's up from 52 per cent in 2005.”
However, the retailers are now trying to copy the strategy of Wall Mart stores, which was founded 50 years back and became famous due its low rates strategy. Experts say that Wall Mart’s strategy has worked because they have built a strong reputation due its lowest prices, every day.
Now many renowned companies like J.C. Penny and Stein Mart have changed their pricing strategies, rather than offer discount coupons now they are moving the discount sales which basically the main reason of success and strategy of Wall Mart.
The 260- store chain, which is based in Jacksonville, Florida, says that they changed their prices after they came to know that the purchases that are being made from coupons accounted for a third of sales in recent years, up from just around five percent from 2004 to 2006.
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