Wendy Sturgis, CEO, Clever Bridge, joined TheStreet to discuss how consumers can save big this holiday shopping season.
Category
🥇
SportsTranscript
00:00 We are coming into Black Friday holiday shopping season.
00:04 What is it looking like this year?
00:06 I think it's going to be a great year for consumers.
00:08 I think that with all the macro headwinds,
00:11 all of our clients we're talking to,
00:12 they're getting ready,
00:13 they're thinking about their strategies
00:15 and how they can attract new customers with great offers,
00:17 bundling, multi-year, and also keeping customers
00:20 with some, maybe some healthy discounts.
00:23 And you do a lot of your business
00:24 through subscription models for companies.
00:26 78%, yes.
00:28 When you're looking from a consumer standpoint,
00:30 what advice do you have for consumers
00:33 who are looking to save money in transactions online
00:36 or through subscriptions?
00:37 Well, look, I think there's a lot of opportunities
00:40 for consumers, and I think you got to be smart
00:42 about your commitment to a company.
00:44 And if the subscription is the right one,
00:46 we all see the Amazon actions that they take.
00:49 They really want you to do it.
00:50 And I think it can be really healthy
00:53 if you know that this is a product
00:54 that you use on a regular basis.
00:56 But otherwise, I think you got to be smart about it
00:57 because there is that move towards it.
01:00 So I think it's just being intelligent
01:02 and really being thoughtful about what you're buying.
01:04 And are there any, like,
01:05 what are the discounts worth paying attention to?
01:07 Like if I sign, they always want me to sign up for longer,
01:10 but they offer a good discount.
01:11 Is that something that I should think about?
01:13 Yes, I think there's a couple of tactics
01:14 that consumers should think about.
01:15 I think if you know that you want the product,
01:17 the longer you commit, you know,
01:20 companies are going to give you a healthier discount.
01:22 These companies have worked hard
01:23 to attract you as a customer.
01:25 They want to keep you.
01:26 You have leverage.
01:27 I'm a digital first person,
01:29 but sometimes getting on the phone with the company
01:32 and saying, "Hey, I'm thinking about leaving.
01:35 What offers do you have?"
01:36 If you're not able to do that online.
01:37 I think also getting more for your subscription.
01:40 Companies want a bundle.
01:41 They want to encourage you to buy more.
01:43 So if you're thinking about that,
01:44 what else could you get?
01:45 And could you get a better deal
01:47 by buying more from that company and doing it?
01:50 And when does it make sense to buy in person versus online?
01:54 I mean, it's such an interesting question.
01:56 Look, I'm on the board of the Container Store.
01:58 So I'll talk about that.
01:59 They want to create unique buying experiences online.
02:02 And so understanding a company,
02:04 their strategy, specials, online only, right?
02:08 Understanding the products that you want to buy.
02:10 There is unique things that happen in the web,
02:13 but you know, there are things that only happen in the store.
02:15 And I think it's the merging of that
02:17 and all companies at Omni Channel.
02:19 You need to decide as a consumer,
02:21 is it, do you know what you want?
02:22 Can you get the best price?
02:23 And the last tip I'll say is use your credit cards.
02:27 Credit cards offer some extraordinary opportunities
02:31 to get offers for transactions
02:32 that you are already going to make.
02:34 (upbeat music)