There are times when business is slow and sales are very minimal. Especially during the pandemic when people are very careful of how they spend their money. However, as business owners, a decline in sales affects the business negatively. One of the ways to rectify this is through holiday sales.
Holidays are a major opportunity for business owners to boost their sales. It is during this time that consumers look for gifts and new items that they can use for the holidays. While there are still a low percentage that prefer to just relax or unwind, most look for freebies and good deals.
Why You Need to Have a Holiday Sale
Having a sale does not just mean that you have to lower your prices and decrease your profits. It has many benefits, too. Here’s why you need to hold a holiday sale:
- Make up for the slow months – There are times when sales are low especially during lazy months. You can make up for the decrease in sales by having a holiday sale to move your inventory. This will also help you get rid of old stocks and slow moving inventory.
- Increase traffic – When you hold a sale, it makes consumers curious enough to visit your product pages even if they don’t buy. This generates traffic and also puts your keywords at the top of search pages.
- Brand recognition – When consumers flock to your product pages, it introduces your brand to them. Even if they don’t buy from you, they will now be aware of your product and may even come back or refer it to others.
- Looking for best deals – During the holidays, many shoppers look for good deals so they can buy gifts or new items for themselves. Holidays sales are the best opportunity to showcase your products.
- Gives a competitive edge – Having a holiday sale not only leads to brand recognition but gives you an edge over your competitors. It also shows that you are able to offer your products at a lower price than the normal price range.
How to Attract Customers to Your Holiday Sale
Now that you have learned about why you need to have a holiday sale, you need to implement one. Of course, having a sale does not just mean lowering your prices. You also have to factor your cost of sales.
To determine your cost of sale, here’s a simple formula:
Cost of sales= starting stock+ purchases – Ending Stock
This number will help you calculate how much you need to lower your prices without sacrificing your capital.
Once you have calculated your cost of sale, you are now ready to plan your holiday sales campaign. Here are some tips to get you started and how to attract customers to your holiday sale:
- Use social media – Based on an article by Data Portal, there are 4.48 billion social media users worldwide (july 2021). That’s 57% of the world’s population. Imagine how many people you can reach on social media. Social media would be a great tool to create teasers and make them excited about your upcoming sale.
- Create a sense of urgency – Having a holiday sale does not only mean telling them how much discount they can get and when they can get it. Create a sense of urgency by having a deadline. Better yet, don’t make your sale last for the whole week or shoppers will get complacent because “they still have more time” then forget to buy.Also, creating a sense of urgency gives the impression that stocks easily run out.
- Offer the right products – Always relate to your target audience and address their needs. For example, give them a reason why they need new bakeware for Memorial Day. Create a need and let them know why they should purchase your products this holiday. You can also offer a bundle to help you dispose of slow moving inventory.
- Offer freebies – Freebies create a positive vibe and make potential buyers curious about your products. You can offer a freebie in exchange for their email addresses. You can also offer freebies to loyal customers. Doing this during the holiday gives them something to really celebrate.
- Encourage engagement – Contests are a great way to encourage engagement. The best way to do this is through social media platforms. As a prize, you can give freebies or extra discounts to the winners. This is also a good way to drive traffic and increase following to your social media pages.
- Run a holiday discount – Instead of a sale, you can also offer holiday coupons to your existing customers. Or you can run a campaign to collect email addresses in exchange for your holiday coupon. Again, create a sense of urgency and make sure that you create a deadline for the coupon usage.
- Tweak your website or landing page – Create a landing page or website banner that coincides with the holidays. Whenever shoppers visit your website, they will be drawn to the festive layout and design. This is also a great way to showcase your bestsellers.
- Stock up for the holidays – Make sure that you check your inventory and time the shipment of your inventory. As you know, Amazon has changed the restock limits so you cannot stock your inventory on Amazon warehouses. What you can do is to find a warehouse where you can store your inventory then just have it sent to the Amazon warehouse once your stocks run out. Timing is the key so you have to keep track of your inventory so you don’t incur more expenses for expedited shipping and freight.
Holiday sales not only benefit sellers and business owners but also our consumers. When you lower your prices, you give consumers a chance to purchase items that they wouldn’t be able to at a normal price. If you need help in creating your marketing campaign or getting a reseller to help sell your inventory, connect with us and we’ll help you out!
“Solve customer problems and make sure that the customer is representative of a large market and then you will have a pretty good formula.”-Melanie Perkins