Using promotions is an excellent way to boost same store sales and drive customer loyalty. Although the retail segment has been driving the popularity of loyalty programs and promotions, vending and micro market operators have the opportunity to compete and in turn, capture more of the consumer dollar.
In order to ensure the maximum impact, operators can try pairing these promotions throughout different dayparts.
Morning, Pair Like-Items: The morning daypart is a great time to gain the consumer dollar. By using promotions, operators can also effectively compete with retail segments such as quick-service restaurants who are offering similar deals but at a higher price. In the morning daypart, pair like-items such as a coffee and a breakfast sandwich and market the combination at one set price.
Afternoon, Drive Transaction Total Up: Keep lunchtime and afternoon sales strong by offering a promotion that will drive the customer’s transaction total up. This will not only get them to come into the break room during peak hours, but it will also encourage them to purchase more, to increase their ticket item. Try doing a promotion that will give the customer 50 cents off when their transaction total gets to $5.00 or a “Buy two, get a discount” promotion.
Late Afternoon/Evening, Happy Hour Sale: This is the time of day when people start heading home and sales become weaker than they were at previous points in the day. During “drive home” hours (3:00 p.m. to 5:00 p.m. for example), create a promotion that encourages customers to shop in the market when they wouldn’t otherwise be there. Offer select items such as coffee or sodas for 20 percent off.
In order to have the highest impact with promotions, one rule of thumb is to offer an entire product category rather than one specific product. Operators may not have a large response if they pair one specific soda with one specific candy bar. Instead, focus on pairing entire categories rather than specific products.
There is also the need to advertise promotions through signage (digital or hard copy) or email blast. This will ensure that the consumer is not only aware of the promotion but also aware of what he or she must do to participate.
Promotions can help drive consumers to the break room more often, increase transactions totals and compete with retail segments. There are numerous ways to create promotions and vending/micro market operators can work with product manufacturers to create the best solution.
