Over half (59%) of UK shoppers believe premium brands that never offer discounts are out of touch with customers, according to new research.
The study, from Shopper Centric, found that three quarters (74 per cent) of shoppers “love” finding premium brands on offer and 61 per cent only ever buy premium brands when they are discounted.
In addition, more than a third (37 per cent) believe that brands who don’t offer discounts “don’t care about their shoppers”.
By contrast, just 16 per cent of shoppers feel upmarket stores are the only places to buy premium brands.
The report explains the “democratisation of premium” claiming 70 per cent of shoppers don’t care where they buy brands and 60 per cent “hate the snobbery” around premium brands.
Mark Haviland, MD of leading CPA network, Rakuten LinkShare, commented: “For years now, premium brands have worked hard to effectively position discounting and offers within a broader brand growth strategy but now, with consumer spending squeezed, customers are researching prices and looking to publisher sites before brand websites in order to find the best deal.
“It’s important that premium brands don’t underestimate the value of publishers that offer money off or cashback in order to meet shoppers’ changing appetites and taste for premium goods.
However, brands must consider who they partner with carefully. It’s crucial to appear on sites that echo your own brand values, not only so that you are able to access the right target audience, but so that you can match your brand image wherever you appear on the web.
“Brand image is everything and premium retailers don’t need to compromise, they just have to get the balance right. Using a CPA network allows luxury and premium brands that chance to work with trusted advisors who will know which publishers represent the right opportunity for their brand.”