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Tag Archive: Discount Forever

New Normal consumption – here to stay even once finances recover

Here at Future, we’ve long argued that behaviours acquired during the economic downturn  -  especially those relating to personal finances  -  won’t simply be abandoned even once disposable incomes begin to look a bit healthier. As such, we can expect millions to remain committed to a more considered approach to consumption  -  one in which budgeting, discount-seeking and maximising (searching for the best value) are all important priorities.

We’ve also been struck by just how consistent this attitude remains across the standard demographic breaks, with, for example, those in the higher social grades being just as likely to say that they’re taking a more measured approach to their personal finances as other groups of consumers. Even those defined as “mass affluent” will say the same.

As our chart here shows, then, New Normal consumption will not be going anywhere in the 10s. For all types of consumer, it’s an approach that’s here to stay.



Trend Manifestation: Kapture

At the confluence of our Performative Leisure, Photo-Phile Culture, Native Marketing, Mobile Living and Discount Forever trends is Kapture -  an app which allows merchants to reward their customers for sharing brand-relevant photos online.

Retailers and leisure venues signed up to the service can post details of rewards available  -  such as a free drink for sharing photos of a bar  -  while the app allows users to see what photo opportunities are available nearby. According to the website: "Whether it's eating your favorite dish in Little Italy or Kapturing your new outfit that you can't wait to hit the streets in, Kapture rewards you for moments all over your city".

Pictures taken through Kapture are stamped with a water mark from the merchant before being shared across social networks. By the end of 2012, the service boasted over 300 partnering merchants.

From a long-term perspective, of course, we might wonder whether the rise of the Smart Networking trend will see people growing tired of such propositions. But at least in the short term, we're bound to see far more branded energy being directed towards consumer-led sharing.

Trend manifestation: As shares fall, so do cocktail prices…

Earlier this summer, The Bull and Bear Steakhouse in New York introduced an unusual discount proposition: prices for its cocktails were lowered in line with drops seen on the stock market.

As part of the initiative, cocktail prices dropped by 1 US Dollar for each 1% fall recorded on the stock market (to a daily maximum of $5). To redeem the offer, patrons had to “like” the venue on Facebook or follow it on Twitter.

To promote the scheme, the restaurant featured a large ticker displaying real-time information about the day’s results.

Trend Manifestation: Domino’s and the Gamification of Price

In March, Domino’s Pizza joined the growing list of brands using price gamification tactics in order to drive consumer interest  -  holding what it called a  “Tweet Treat” initiative at its Lincoln branch which saw the price of its pepperoni pizza falling as more and more people “Tweeted” about it on social networks.

Running between 9am and 11am on March 5th, the offer was, so the brand said, an attempt to reward customers and increase lunchtime orders - with Twitter and Facebook members being invited to use a “#LetsDoLunch” hashtag in order to influence the final price. Those who chose to participate were then able to purchase the pizza through the Domino’s website once the "reverse auction" had closed.

At the start of April, Domino's ran a similar initiative at its Milton Keynes branch, with prices for five large pizzas falling by at least a penny each time a relevant hashtag was posted (to a minimum of £6.50 per pizza - with the final price in this instance being £6.98). And it says it has plans take the Tweet Treat proposition to other outlets across the country in the coming weeks.

From Uniqlo to Innocent, Gap to Swedish supermarket ICA Vanadis, examples of retailers adopting a more playful approach to RRP are very quickly multiplying in number. Can we thus imagine a not-too-distant future where real-time sales monitoring and continuously adjusted price display support increasingly personalised deals? Will playful and game-like interactions be used more frequently to engage, entertain and create closer bonds with consumers in conventional retail spaces as well as online and on mobile platforms? We'd love to hear your thoughts.

Trend Manifestation: food and drink discounts for those who use public transport in LA