Reilly Newman, brand strategist and founder of branding studio Motif Brands, concurs. In his view, the price cuts represent a “very interesting ‘marketing campaign’” by these brands. He adds: “The ‘price cutting’ campaign has also garnered quite the PR, as it has reached many headlines and most likely driven increased web and foot traffic.”
Newman emphasizes that even small discounts ranging between five and ten percent can wield significant influence, capitalizing on consumer psychology akin to the allure of Target’s renowned $5 section or Costco’s exhilarating “treasure hunts.”
