With the world economy in the state it's in, it shouldn't be difficult to give cash away for free; however, nationwide, free cash experiments led by a UK loyalty firm called Ice have proven that it's near impossible.
The company sent out five women sporting sandwich boards reading "Ask me to pay your bus fare and I will" to bus stations across England and Scotland, exposing the catch-free offer to tens of thousands of bus travelers. The results? A total of only 38 people across five stations at rush hour took them up on the offer.
Perhaps people are becoming blinded by the sheer volume of deals and offers that bombard inboxes daily, or perhaps society is too prepared to look a gift horse in the mouth, having become cynical with age. More interestingly, the vast majority of people willing to take Ice up on its free cash experiments were under 18s.
Free Cash Experiments
Ice Customer Rewards Tries to Catch the Eyes of Consumers
Trend Themes
1. Cynicism Toward Free Offers - The increasing cynicism among consumers towards free offers and deals poses a challenge for businesses seeking to give away cash or incentives.
2. Deal Fatigue - The sheer volume of daily deals and offers has led to consumer apathy and diminished interest in free cash experiments and giveaways.
3. Youth Interest in Free Cash Offers - The majority of people willing to participate in free cash experiments were found to be under 18s, indicating a potential opportunity to target younger demographics with such offers.
Industry Implications
1. Consumer Goods & Retail - Consumer goods and retail businesses can explore disruptive innovation opportunities to captivate jaded consumers with unique and enticing free cash experiments.
2. Digital Marketing & Advertising - Digital marketing and advertising industries may need to find innovative ways to cut through the noise and combat consumer deal fatigue in order to effectively promote free cash experiments.
3. Youth-focused Brands - Companies targeting younger audiences can leverage the interest of under 18s in free cash offers to design disruptive marketing campaigns that resonate with this demographic.