The Institute of Promotional Marketing (IPM) has warned brands that relying too heavily on price discount promotions could damage long term values after its 2013 analysis found brands invested significant amounts on the practice.
According to research from the IPM, UK marketers spent nearly £55bn on promotional marketing in 2013, but a massive £40.4bn of that went towards price cut promotions with the remaining £14.4bn spent on value-added promotions, which offer consumers a reward or incentive to do something instead of offering a straight price cut.
Paul Godwin, head of insight at the IPM, said: “The economic downturn has inevitably meant that Read full story ›
Source: The Drum
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