Limited-time offer marketing strategy—what brands need to do this fall

Fall is here and American brands are planning accordingly, leveraging limited-time offerings to retain existing customers and attract new ones. There is perhaps no fall-themed product quite like Starbucks’ pumpkin spice latte. For many Americans, the beloved beverage signals the official arrival of autumn, even though it’s technically released in late summer. Since pumpkin spice latte was launched in 2003, more than 600 million cups have been sold, and the drink continues to drive people to Starbucks today. Tens of millions of additional sold cups are expected in 2022. Of course, Starbucks isn’t alone. Pumpkin-themed products also increase foot traffic to Dunkin’ and other competitors. Each year, at least $500 million is spent on pumpkin spice-flavored items alone in the United States. That’s the quantitative component. Qualitatively, fall-themed limited-time offerings lead to elevated levels of excitement about shopping writ large, as consumers treat fall like a daily holiday. There is a palpable love for fall-themed offerings in the crisp autumn air, according to recent research from The Harris Poll. Tracking layoffs and budget cuts How brands and agencies are bracing for a recession Click here Nearly three-quarters (72%) of U.S. adults agree that fall offerings (i.e. seasonal flavors or packaging) are fun. This number increases to 84% for parents with children under the age of 18, showing that fall-inspired consumerism is a family affair—a chance for parents and children to bond over products such as pumpkin spice latte or Pillsbury’s classic Halloween Shape sugar cookies. Similarly, more than four in five (82%) parents of children under the age of 18 are at least somewhat excited about fall-themed products. Excitement leads to expenditure. More than eight in 10 (85%) parents of children under the age of 18 report that they are likely to purchase a limited-time offering this fall. However, brands cannot take consumer excitement for granted. The link between excitement and expenditure is not inevitable if companies fail to demonstrate added value or set the wrong price point. Especially in today’s inflationary economy, consumers are more price-conscious and risk-averse than before, so prices need to be determined strategically and after considerable market research has taken place. Brands can’t get lazy about their fall lineups. It also may be a mistake to artificially extend the “fall season” for the sake of capturing more sales. When consumers begin to perceive fall products as corporate money grabs, those sales may never come. If priced too high, most U.S. adults would not go out of their way to purchase them. This could be due to brands releasing such products too early or customers viewing them as out of fashion. Three in five (60%) U.S. adults agree that brands release fall products too soon, while more than half (56%) say they are played out as companies tap into potential that has been tapped already—and then some. Brands can still differentiate themselves from competitors and highlight their unique value in the marketplace. They can win over consumers by capturing seasonal spirit and energy. As with anything else, the key to a successful fall-themed limited-time offering is creativity, mitigating the potentially negative perceptions of consumers. When it was first released in 2003, pumpkin spice latte was revolutionary. Innovation was paramount then, and remains crucial in 2022. Consumers expect seasonal products to be novel and, in a way, exclusive. Are there new flavors or scents that have gone untapped? Pepsi’s S’mores Collection campaign provides a good example of creative tinkering along this line. If families are leading the spending, how can marketers parlay traditional family fall activities like apple picking and visiting corn mazes into new products that excite kids enough to convince parents to open their wallets? Brands don’t necessarily have to change the world with each seasonal product, but they do have to put careful thought and consideration into what resonates most with consumers. Brands that conduct market research and collect actionable feedback can celebrate fall the right way—by boosting their bottom lines. Subscribe to Ad Age Sign up now for the latest industry news and analysis Click here

Limited-time offer marketing strategy—what brands need to do this fall

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