Did you notice how early EOFY sales started this year?
It used to happen towards the end of June, but it’s now starting as early as the end of May and lasting a lot longer.
It isn’t really a surprise, but more a sign of the times with consumers cutting back on essentials.
It’s not just limited to EOFY. Boxing Day sales seem to start in early December, rolling through from Black Friday to Cyber Monday weekend and more and more businesses are jumping on various other sales events (Afterpay Day, Singles Day etc.), with back-to-back promotions the norm.
The tyre category has typically relied on discounting. However, as a brand that builds value through the care we provide to our customers, we took a different approach to EOFY this year, running a 40% off promotion for 24 hours on a premium tyre brand.
Without giving too much away, it was a strategy that delivered results.
Why might this be the case?
When people are spending less, offering a promotion that truly offers value – in this case, 40% off a premium tyre brand – makes a difference, and drives action. Limiting this action to a single day only, creates urgency.
Added to this, we made it easy for our customers to take advantage of the offer online, in-store or via phone.
We’ll be taking these learnings into consideration for our promotional calendar moving forward, and remember that we’re not just trying to drive sales, but drive value for our customers. And “value” needs to be both genuine, timely and accessible for it to deliver the impact they’re after.
Perhaps in doing so, we’re living up to our promise of putting People First, even when it’s for a promotion.
