After deep yearend holiday discounts, retailers and other U.S. companies are trying a new marketing strategy to keep their cash registers ringing amid the slump the American economy is going through.
One marketing strategy gaining in popularity is 2-in-one offers, seen across various industries in the U.S. from dining to telecommunications, and even cars and homes.
The "buy one, get one free" come-on allows store owners to avoid price discounts which are difficult to reverse as shoppers get used to rock-bottom prices. With a limited life-span based on inventory levels, the 2-in-1 offer moves merchandise without tying the store owners permanently to lower price tags.
"I Want That: How We All Became Shoppers" author Thomas Hine explained to USA Today, "The real driver is that people feel guilty about shopping right now... In times of economic uncertainty, people are more willing to make a purchase if they feel they're being responsible."
Los Angeles psychologist Renee White Fraser said marketing strategies like the 2-in-1 offers give consumers a sense of control during hard times because of a feeling of having secured a good deal.
Among the establishments that are trying to cash in on the strategy are TGI Fridays which has an offer of two entrees for the price of one for diners who come in with coupons downloaded from the restaurant's website. Men's Wearhouse has a 2-in-1 offer for male business suits beginning at $399.
Verizon Wireless has a "buy one, get one" offer for Blackberries, while the Russ Darrow Group car dealers in Wisconsin will throw in a second-hand car worth $10,000 for purchasers of new cars or trucks.
The recession has caused a six-month decline in retail sales in the U.S., although the Commerce Department reported in mid-February that January retail sales went up by 1 percent for the first month of 2009 compared to December figures.















