Five Ways to Beat the Post-Holiday Sales Slump
As the holidays come to a close, most businesses typically see a drop in sales as customers slow their spending. Here are five ways to avoid the post-holiday sales slump:
1- End of Year Promos: Decreasing prices to increase revenue may sound counter-intuitive, but it works! This year gift cards and cash were set to be the number one gifted item for most age groups. As customers look for the right place to use those items they’re looking for products they like, but at the best value. You can also use this as an opportunity to feature inventory you don’t plan to carry into the new year.
3- What’s Next: New Years and Valentine’s day are the next upcoming celebrations for most people. Now is a great time to start promoting any events you have planned for those occasions, or let customers know which of your products will fit best into their plans.
5- Host an event: Holiday parties are winding down and people are looking for fun things to do that also help them avoid the cold weather. Invite long-time members back for VIP events for a first look at new items. Welcome new customers to music nights, dinners or meet the winemaker events to showcase your wine, and invite them to become members.
2- Target Marketing: Combine this with your end of year sales to bring back your new holiday customers. If you use a platform such as OrderPort, it’s quick and easy to create lists of customers based on purchasing preferences, then create and send out messaging curated for each group. Put all of your new holiday contacts to good use and let them know if they liked their holiday dinner wine, they’ll love this one too. Better yet, it’s on sale, and they should buy now to get the limited time offer.
4- Easy Access: After planning for gifts, travel, meals and parties people are looking for convenience. Make sure your products and deals are available online, and offer quick checkout, if possible. Eliminate unnecessary fields to make for the simplest checkout you can. Free shipping deals are a great way to incentivize shoppers to hit minimums in order to have their purchase conveniently dropped at their doorstep.
