Harnessing the Power of 'Free' with Freeosk: A Game Changer for Retailers and Data Insights
The magic of 'free' has always been a powerful pull in retail. I experienced this allure through a retail partner I collaborate with who introduced me to a novel idea, Freeosk. The genius concept of a free sample dispensed at the swipe of a card was a breath of fresh air in a tried-and-true marketing landscape.
Freeosk, launched in 2013, has revolutionized the traditional way samples were given out in retail stores. As simple as swiping your loyalty card, and out pops a free sample. But a highly potent data collection mechanism is at work underneath this apparent simplicity.
Wakefern's recent expansion of Freeosk reiterated to me the ingeniousness of this innovation. Not only has it reinvigorated a well-established marketing tactic, but it's also created a new avenue for robust data collection for brands.
LightspeedHQ conducted a study that delved into the 'Psychology of Free,' demonstrating the significant positive impact that free samples can have on sales. The power of free mitigates the risk of trying out a new product. Consumers are far more willing to sample a product if the initial cost is waived, which often leads to subsequent purchases.
The study further uncovers case studies highlighting free samples' power in altering consumer behavior. For instance, it showcases how a food retailer's sales volume rose by 2,000% on certain products due to sample giveaways. The ability to physically try the product had a psychological impact, as consumers felt more confident in their purchases, having sampled the product for free beforehand. This confidence and the positive association of receiving something for free resulted in a significant sales increase.
Alex's POV:
From my perspective, Freeosk is a transformative tool for retailers for these three key reasons:
1. Increased In-Store Traffic: The allure of 'free' is a powerful magnet for customers. This was demonstrated when a TikTok video showcasing the Freeosk at Sam's Club went viral. By harnessing the power of 'free,' retailers can boost foot traffic, increase product visibility, and drive sales.
2. Robust Data Pipelines: In the age of big data, Freeosk is a game-changer. Correlating sample distribution data with sales data allows brands to gain actionable insights into product adoption. Being able to answer questions like - did the consumer buy the product? Did they continue to buy it? Or did they switch to a competitor's product? - is an invaluable asset, enabling brands to make data-driven decisions and fine-tune their strategies.
3. Strengthened Customer Loyalty: Freeosk brings another dimension to customer loyalty programs. With each swipe of their loyalty card, customers feel appreciated and rewarded, which fosters stronger brand loyalty and encourages repeat purchases.
With Freeosk being increasingly adopted by big-name retailers like Walmart and Sam's Club, it's clear that this innovation isn't just about dispensing 'free' samples anymore. It's about understanding customers better, attracting them, and enhancing their shopping experience. In my view, Freeosk is leading us into a new era of data-driven retail, and I can't wait to see the transformative impact it will continue to have.
Walmart Freeosk
