CPG brands are always looking for new ways to attract customers and promote their products. One effective strategy is to use instant redeemable coupons (IRCs) as a part of their marketing efforts. IRCs are promotional stickers or labels that are placed directly on a product package or shelf, offering an immediate discount to the consumer. The most common types of IRCs include:
Did you know IRC labels have an index four times the value of internet print-at-home or electronic shelf coupons? This is because it captures the customer’s attention at the point of sale which is where it matters most. Let's take a look at some ways CPG brands could use IRCs in their marketing strategy.
By offering a discount at the point of purchase, consumers are more likely to try a new product or switch from their usual brand. This is especially effective for CPG brands that are launching a new product line or introducing a new flavor or variation of an existing product.
By offering a discount, brands can incentivize consumers to purchase the product before it expires. This not only helps to clear out inventory but also reduces waste, which is increasingly important to consumers.
IRCs are an effective way to drive sales, especially during slower periods or for products that are not selling as well as expected. With an IRC, brands can increase the perceived value of their products and encourage consumers to make a purchase.
By offering discounts through IRCs, CPG brands can build brand loyalty among consumers. Consumers who are satisfied with their purchase and the discount they received are more likely to purchase from the brand again in the future.
If you (a CPG brand) have been in this game for a while now, then you know how competitive it gets to find your way on store shelves and actually stay there. IRCs are just another way to encourage consumer purchases and therefore, connect with your customers and drive sales!
WeStock can now create IRC’s for brands using a trackable QR code. Learn more about this feature, here.