My usual grocery store sells my favorite energy drink as $2.50 each. A 4 pack is $7.99. 8 pack is $14.99
This week’s sale (and often is) was 2/$3.00. Isn’t the idea of promotions to drive SOME form of incremental gains? This promotion drove down both units and basket size. Nice.
I wise man said “we all know only 50% of promotions work, but we don’t know which 50%.” (Wise is a gross understatement, by the way. Possibly one of the smartest people in the universe, and a Chief Science Officer of a company just full of genius-level scientists)
So to my grocery friends- if you would like to run your promotion ideas past me, I would be happy to vet them and crunch the #’s for you in my spare time. Stop doing things that throw away money. Just stop.
To the rest of you, another good quote from the week: Never miss the opportunity to take advantage of a crisis. When someone leaves money on the floor, be sure to pick it up.
I love the smell of money in the morning.
-That Planning Guy