Pricing strategies sometimes means more or less work on the consumer's end.
Before you take your credit card on a swiping spree, a former branding consultant and current Kent State University assistant professor in advertising, Danielle Coombs, shares her advice on what to watch for.
If you open your Sunday newspaper or search online to find deals at JCPenny, you may have noticed less clutter and no more coupons. Coombs says the retailer is trying to appeal to busy members of society, especially woman on the hunt for their next outfit. While she's not sure what the end results of the initiative will look like, the "fair and square" approach could work.
"I think it fits with the consumer mindset," she said. "People feel like they're being asked to do a lot of work as consumers."
JCPenny's big push for "everyday prices" is at the opposite end of the spectrum when you compare it to Kohls.
Those who carry a Kohls credit card are offered close to 18 mailers with additional coupons each year. And then there's the Kohls Cash (often earning $10 for every $50 spent).
Layering coupons, watching the weekly ads and the extra Kohls cash is a process that Coombs says works in terms of pricing strategies and creating a trend.
"They really brilliantly bring you in, you get money, and then you have to come back in quickly to spend it again," she said. "So it starts becoming a habit ."
Tips to Better Navigating the Shopping Isles:
- Find a store that works for you when it comes to prices.
"Be thoughtful about what places we're going to and are they giving us what we need," Coombs said.
- In a busy society, Coombs advises consumers select a store that they can depend on.
"We don't have the time to go to ten store to achieve one goal," she said.
- Coupon cutting has gone viral, so click and print away!
"That's really effective and there's a ton out there on the Internet that can give you really specific direction that can give you where to get the best deals at the best time," she said.