Definition of Gift With Purchase (GWP)
A promotional strategy where customers receive a free gift when they buy a specific product or spend a certain amount.
Explanation of Gift With Purchase (GWP)
Gift With Purchase (GWP) is a promotional strategy where customers receive a free gift when they purchase a specific product or meet a certain spending threshold. This approach is used to incentivize purchases, increase sales, and enhance customer satisfaction. GWPs can include a variety of items, such as samples, accessories, or complementary products, and are often used in the beauty, fashion, and retail industries. The key to a successful GWP promotion is offering a gift that is perceived as valuable and relevant to the customer. By providing an added incentive, businesses can encourage larger purchases, attract new customers, and build brand loyalty. GWPs can also create a sense of urgency and excitement, driving immediate sales. Marketing the GWP effectively, through channels such as email, social media, and in-store displays, is essential to maximizing its impact.