Promotions bounce back to lure customers

THE multiple-currency system introduced in Zimbabwe in 2009 has started to bear fruit with most companies in the retail sector now running promotions as they go out of their way lure customers.

Promotions had disappeared as companies struggled to fund day-to-day operations during a decade of economic recession that resulted in some firms closing shop and the loss of jobs.

But the resurgence of the economy has opened up a lot of opportunities for companies, the informal sector and individuals.

Despite the serious liquidity challenges, companies have managed to recapitalise and production has increased to levels of around 50 and 60 percent.

However, disposable incomes have remained relatively low but the majority Zimbabweans can now spend and retailers are leaving no stone unturned to get a share of this money.

This paradigm shift has seen that more investors are now getting into the retail business and fast food outlets and a variety of goods are now available on the market.

Against this background, the market has witnessed the influx of sub-standard goods flooding the market threatening the recovery of the local industry.

Stiff competition is now best described in the retail sector and this has proved good for consumers as they now have a wider choice.

However, product promotions have become the in-thing and it has proved to be one of the strongest advertising strategies as more shoppers try their luck.

The promotions have come in different shapes and sizes but they have managed to attract the attention of customers.

Among some of the notable promotions run in 2011 were the OK Grand Challenge, Coca-Cola Pimped Up Ride, Easy Call Load Up and Win and the TN Harlequin Luxaire.

It was a dream come true for 19-year-old Silence Madzvutu of Kuwadzana after he scooped the top prize - a Cherry vehicle - in the Prochem Summer Fresh promotion. The promotion ran from October 23 to December16 last year.

Prochem and Greenwood Pharmacies, both subsidiaries of the Varichem Group, jointly ran the Summer Fresh promotion.

Prochem general manager Mr Nathan Mwanza said his company would be launching another promotion in two weeks' time.

Mrs Cleopatra Girozha of Masvingo also won a Cherry vehicle in the the Black Opal promotion under Greenwood Pharmacies which ran concurrently with the Summer Fresh promotion.

Other prizes included a stove courtesy of Elegance, seven LCD television sets, 15 hampers from Elegance and 10 hampers from Black Opal.

For the Prochem winners, hampers of Elegance products were presented to the 15 lucky winners.

Mr Mwanza said the annual school fees promotion had been rescheduled for October, November and December this year.