Well, new research from LoyaltyLion
shows that the consumers of today aren’t as enamored with BFCM as you may think. In fact, the event leaves them feeling undervalued, underappreciated, and deprioritized. Plus, a worrying proportion of shoppers feel like discounts aren’t all they’re cracked up to be, affecting their trust in the brands that offer them.
This distrust and dissatisfaction puts an emotional wedge between you and your customers. Your existing customers are left feeling neglected, meanwhile, the new customers you acquire are only looking for deals and may not repurchase from you after the peak. All in all, the short-term sales gain of BFCM could create longer-lasting pain if it’s solely discount-driven.
A new opportunity beckons
But, LoyaltyLion’s research
also exposed a new opportunity. One that gives customers the same high that discounts do. Meanwhile, this golden opportunity helps brands protect their profits while growing their shoppers’ LTV at a time where consumer loyalty is usually under pressure.
So, what’s the secret? Alternative incentives (think shipping perks, exclusive experiences, and loyalty points) that build emotional connections before, during, and after discount peaks.