Great Singapore Sales (GSS) has finally come. This annual affair is uniquely Singapore, where the May-June period features retailers and fabulous promotions. Business owners dish out huge marketing dollars to entice consumers to make the extra purchase.
Looking at this form of marketing, GSS appeal is slowly dying. Will consumer make the purchase just because of the additional discount given?
We look at the recent crave: group buying coupons and discount phenomenon - Example,
Groupon. How are they changing consumer behaviour. I look at Groupon as more of a sampling method for consumers. To advertisers, they are getting bulk sales which is ideal for new setup company to create awareness.
The pitfall for consumers come when they make purchase in GSS. Similar analogue in "
Relativity and Immediate Gratification", a simple sales tactic "20% for 2nd Pair of shoes, 30% for 3rd Pair", in fact ask consumers to buy more FAST. Intentionally, discount is given but at tier level. This is good for retailers to clear their stock. Not to forget, their product costing includes shipping. With bulk order, the 20-30% is relatively covered. On top of that, they may save on warehousing since you have help to clear their stocks. Of course, all these are done with carefully planning. You do have to give credits to the merchandising department.
