Infinite Shelf - An Omnichannel Podcast by Future Commerce
The Discount Drug (Interview with Givz Founder/CEO, Andrew Forman)
Episode Summary
We keep it real here on Infinite Shelf. We don't paint a shiny varnish on a messy topic and gloss over the details. We put on our reality hats, face facts, and try to solve the problem as best we can. Today on the pod we'll do exactly that in Ingrid’s interview with Givz Founder and CEO, Andrew Forman. Listen now!
Episode Notes
We keep it real here on Infinite Shelf. We don't paint a shiny varnish on a messy topic and gloss over the details. We put on our reality hats, face facts, and try to solve the problem as best we can. Today on the pod we'll do exactly that in Ingrid’s interview with Givz Founder and CEO, Andrew Forman. Listen now!
Discount Double Check?
- {00:04:09} “First, brands are trying to get away from discounts as much as humanly possible. They recognize it brings in the lowest lifetime value customers the first time... So how do we get away from this, but still drive sales is question one/trend one. And then trend two, totally separately, is that consumers are demanding some sort of purpose driven activity from brands.” - Andrew
- {00:09:30} “I will take a discount, right? But it's not necessarily that I need that three dollars off or something like that. Like, it's going to make the difference between like pulling the trigger or not. And it's become, I would say, like a game for internet savvy people of just not being fooled.” - Ingrid
- {00:12:59} “I mean, once you buy something at 70 percent off, your perception of that brand in terms of value that is created, there's just no chance that you pay even 20 percent off ever again on something like that.” - Andrew
- {00:16:25} “But at the end of the day, what we see in the data is that people want to feel good about their purchasing and they want to shout about it, and this is something that can get them over the hump in terms of buying something.” - Andrew
- {00:24:52} “If you're saying one percent of revenue or 10 percent of profits goes to this one specific charity, and maybe you've been doing that for a long time, I guarantee you 80 percent of your customers don't know that or don't know the cause or don't really, truly resonate with that cause.” - Andrew
Associated Links:
Have any questions or comments about the show? Let us know on Futurecommerce.fm, or reach out to us on Twitter, Facebook, Instagram, or LinkedIn. We love hearing from our listeners!