6 ways to survive the post-holiday slump
While December is usually marked by parties, festive activities and big spending, January till March are often seen as a period of austerity. Consumers spend little, retail sales drop. However, many independent retailers simply can’t afford to take a huge hit in sales, let alone deal with returns, which are historically at their highest right after January 1. Fortunately, it doesn’t have to be this way. Here are six things you can do off-season to keep your sales up after the holidays.
Launch something new and exciting It’s the time for new beginning, take charge of one of your creative ideas and plan to launch it post season. It will get the attention of your audience as it is new and usually at the start of the year people are gung-ho about all things new.
Put more on offer Push sales post the holiday season by giving shoppers extra incentives to keep buying. Offering potential customers discounts on purchases is a way to quickly draw people into your store. Anytime you tell a customer that he can save money, you’re likely to get his attention. Discounts don’t only help your shoppers; they also help your business. From increased sales to improved reputation, discounts may be that one ingredient that can bring business success. Run an ‘all clearance sale’ or offer add on value adds like free dry cleaning or repairs or make-up consultations whatever is relevant and feasible do it. Limit the offer time to create urgency and you are all set.
Pay attention to the new year resolutions going around It’s the time of the year for self improvement.Get into your customer’s mindset and address those needs. For example, the general resolution is almost always to get healthy and stay fit so if you have products or services that can be used push those forward.
Offer discounts Consumers expect heavy discounts when shopping just after the holidays. However, advertising huge percentage discounts can potentially lower your brand’s value by giving your store a “bargain basement” appearance. What’s more, you can risk making your customers who paid full price of an item a few weeks previous feel ripped off. Instead, consider offering Buy-One-Get-One deals. This way, you’ll be able to move merchandise more quickly and delight customers with a “free” gift.
Stay content fresh The festivities may be over, but that doesn’t mean you should stop generating and publishing great content. As sales are generally low at this time of year, you should, in fact, be creating content to push your sales or new collections harder than ever by boosting your communications via email and social media. Take advantage of the slowest season of the year and invest in communications technologies, like email marketing platforms, you’ll need to help you market your brand in 2017.
Review your data You may have had an increased volume of customers and it is therefore one of the best times to capture valuable customer data. Capturing someone’s full name, email, birthday and phone number when they’re on a holiday shopping frenzy can be a challenge, but just one piece of contact info such as an email address is all you need to start building a long-lasting and profitable relationship with a customer.
Here’s to a profitable 2017!