The Grocers seem to have decided that Every Day Low Pricing is the way forward. The logic being that having been bombarded with BOGOFs, 2-for-1s and the like, the modern shopper has got savvy and is looking for good old fashioned low prices.
Which makes a lot of sense. Except that it ignores the age old truth of retailing – people find the idea of a bargain irresistible. It doesn’t matter whether you get free floormats with your Mercedes, a complimentary hotel room upgrade or 50% extra free in the shampoo bottle, its all about the feeling of having got something for nothing and somehow beaten the system.
Asda promise they are Saving you money everyday but cunningly use their Asda price guarantee to show you how much you’ve saved – if you had shopped elsewhere. But that rather relies on shoppers logging on to check their receipt – and early reports suggest they aren’t doing this in droves.
In contrast Sainsbury’s seem to have simply repackged their offering as Value where it matters, with everyday value messaging in comms but BOGOFs and better-than-half-price offers galore instore.
Give it six months and I predict we’ll be back to overt offers again.