Hello everyone! The manager of THECBDSHOP.CO.UK here and I just quickly want to address why we will never run a seasonal promotion of any sort here on the site.
Every day we receive between 5 – 10 emails asking for promotion codes for CBD oils featured on our site. Intwined, are further emails often containing heartbreaking stories or “thank you’s” given to us for the change that our oil has provided in peoples lives. I’d just like to state here the latter emails and messages alone are what motivates us on, allowing us to weather storms and carry on when extraneous, often unnecessary problems (usually legislative) arise.
I want to talk a little bit now and provide a bit more context to the subject matter of this post. I have personally studied business and marketing at a university level and therefore have a roundabout key understanding of the objectives marketers usually want to obtain. In regards to short term promotions, they are used by companies to boost sales temporarily. This is a crucial point that I will address in just a second.
I must say here as a disclaimer that I am being slightly hypocritical. We offer 10% off of first purchases if customers subscribe to our mailing list (which we only use to send news stories and keep customers updated about CBD). However, the way we justify it is that the 10% off is not a promotion code as such but an invitation to join a fast growing community that I strongly believe in.
If I’m boring you, I apologise, I will now to get to my point which is as follows. I believe that seasonal promotion codes for CBD products are borderline unethical. My justification for which is that when producing a marketing plan of any sort, one must take into consideration at all times the most crucial aspect, the target market. The final consumer of CBD, 5 times out of 10, is an unwell individual. That is the unfortunate reality and believe me, I read the emails hourly. Therefore, selling a CBD product for (let’s say) £100 on a Monday and then offering 25% off on Tuesday because it is (for example) ‘A Valentines Day Flash Sale’ is in my opinion wrong. This is because one must take into consideration the £25 that could have been spent and put to use elsewhere by the consumer. I’d like to illiterate, consumers of CBD are sometimes out of work due to their conditions and savings can be used to benefit them in a big way (for example, a weekly food shop)
To conclude. I am not asking or claiming that anyone should change their business models. If companies want to use promotions to boost sales, then by all means, go ahead. It is just my opinion that if a 20-25% loss per product can be made whilst still achieving a healthy profit, then an exploitation in a search for high profits, the likes of which we have seen from pharmaceutical companies for decades, is seemingly taking place.
Lastly, it is our prerogative to price our products fairly and in a way that will allow our business to grow sustainably and in a manner that will allow us the ability to constantly increase product quality as we go along.
I am incredibly curious as to what others think about this subject! I might be completely wrong so please let me know whether you agree or disagree but please provide a reason as to why!