Risks in redemptions
Reading Money for Nothing (MW 14 May), what the Marks & Spencer sale and, in particular, the over-redemption of the Threshers e-shot highlighted is that brands are not applying sufficient due diligence in putting together their promotions.
Far too often brands are being “risk blind”, either not seeing the dangers that lie ahead or choosing to ignore them, taking a gamble. Either way the consequences, as reflected in the M&S sales figures, can be catastrophic.
Consumer response levels to promotions are at an all time high and the risk of over-redemption is far greater than ever before. Therefore, brands need to work closely with redemption level experts, who will identify and eliminate the risk factor involved in promotions. While some are now doing this for the first time, many still have their blinkers on.
Martin Brinklow
Head of sales
Fotorama
