I’m in a promotional whirlwind….

As a (former) macroeconomist, I am taking great interest in the economic upturn or mini-economic upturn.  I’ve followed the whole topic of whether we’d see a double dip recession or not.  Would we see inflation pick up – many naysayers continue to say inflation is around the corner….

But, I’m here to say that there is no inflation looming based on how many promotional offers I’ve received in the last 6 weeks.  They include:

  1. Our nice local Indian restaurant. They sent a coupon for a FREE Indian buffet.  As a marketing “know-it-all”, my view was that FREE didn’t engage the customer enough and devalued the offering.  However, I have to say that the restaurant was JAMMED each time I went.  Oh, that’s right, they sent me two coupons, both of which I used.  And when I drive by at night, they are jumping.  Coupons for nightly specials were also sent.
  2. Sur La Table.  I received the lovely $10 gift from them which I thought was most generous given my level of spending.  However, there may have been a slight breakdown with their marketing database.  I loved the present, but the store near me just closed and won’t reopen until July.  Hmm.
  3. Lands’ End. $15 off my next $75.  A decent offer.  Likely to get used.
  4. YSL card.  Our local museum has a splendid show on Yves Saint Laurent and they bundled in a discount card for local merchants who wanted to participate.  So far, have loved my glass of champagne and the discount at the book store.  I’m getting close to paying for the YSL ticket.  (But would I have had the glass of champagne at lunch without the promo?)
  5. And many other cards. The public radio card, the Firestone card, the Garbanzo restaurant card and many merchants who are very sad when I turn down their card.  Not to mention numerous golf-related cards that I could be using.
  6. Plus email deals every day. Clearly if you don’t buy what you need on promotion, then you are a bad shopper.

I recently quoted a client a price at full rates for a small job.  Oh no.  Probably should have given him an offer and a membership card.

Inflation anytime soon?  I don’t think so.

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