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Message from the CEO: 29 August 2017

August 29, 2017

Implementing a successful marketing strategy is instrumental to the success of any retail outlet. One of the easiest and most effective ways to market your brand –  or a specific line of products – is to offer promotional deals that leave shoppers feeling as though they are getting bang for their buck.  

One type of promotional deal commonly used by retailers is to offer a complimentary free product to a consumer when they either purchase a certain product or spend a minimum amount. However, according to the University of Sydney Business School, many consumers reject promotional deals that are linked to games such as scratchies or trivia quizzes. The study found that only certain consumers under particular circumstances are incentivised to buy a product with a prize deal attached.

Those of you who currently offer complimentary prizes to customers when they purchase certain products may want to carefully evaluate the effectiveness it is having in increasing sales. Further information relating to the research paper can be found at the Journal of Consumer Psychology website here.

One issue that the NRA is constantly advocating on is the need to have laws for retail trading hours that cater to the needs and wants of both retailers and shoppers. We are constantly engaging with state governments around the country on the need for trading hours that keep pace with the modern world and that help keep our members as competitive as possible against overseas rivals and internet stores.

Needless to say we were quite disappointed when earlier this week the Queensland Parliament passed laws that regional stores will not be allowed to open until 8am (instead of the recommended 7am) and that there will be no expansion of Sunday trade in regional areas. The watered down amendments flew in the face of recommendations handed down to the Government as part of the independent Mickel review and we believe that the new laws will cost desperately needed jobs in regional Queensland.

The NRA will continue to make the case to respective state governments on the need to have trading hours that help our members stay competitive, that provide real choice to Australian shoppers and that help increase employment within the sector particularly for young people.

Have a great week.

Dominique Lamb, CEO.

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