"Prices are down" jingle works wonders for Coles
DOWN, down prices are down.
Ever get that annoying jingle stuck in your head? Well, it is that two-bit song combined with that big red hand and the strategy that it fronted that has allowed Coles to outperform the market for the 18th consecutive quarter.
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Ian McLeod, the former managing director of Coles, and the man credited with the supermarket giant's revival, told a QUT Business Leaders forum this week that the advertising campaign with the big red hand telling people prices "down and staying down" might have been tacky and "polarising" but it worked.
"We wanted to make sure customers recognised that when prices came down they stayed down and we tried to communicate that in an engaging way through our advertising," he said.
"The big red hand started off as an arrow then it became a finger then a hand and then a guitar ... 93% of people linked it back to the brand."
Mr McLeod said the campaign was a big reason Coles was able to double its profits in five years as they targeted weekly staples like milk, bread, meat, cheese and eggs to get customers back to their stores. - APN Newsdesk