New developments in price and loyalty promotion: managerial implications and new avenues for research

Today, consumers take advantage of saving opportunities across several channels offered by old and new players. Brands compete for customer loyalty by offering loyalty schemes and clubs, loyalty apps, subscription based schemes, and branded currency wallets. To counter the effects of the economic crisis and the decreasing effectiveness of “traditional” promotions, brands need to innovate. New digital channels, customer insight derived from individual customer information and new intermediaries enable this. This study explores the recent evolution of promotional practice by leading brands on the one side, and consumers’ acceptance on the other. We discuss managerial implications and new research opportunities arising from the new promotional scenario