How to make the most of the January sales period
We’ve compiled six simple ways small businesses can make the most of the January sales period this year.
1. Mix it up and have new season and sale stock in-store
The January sales period is a great time to move along slow-moving stock but ideally it shouldn’t be the only product you have in store. Create a sales-specific area in-store, and counter it with new, full-price stock so that customers see and shop the best of both. It can pay to have the most heavily discounted stock at the rear of the store, so customers walk past all stock in order to see it.
2. Offer daily deals
One way to keep your in-store sale fresh is by offering different deals each day. This can also help retailers move along old stock. For example, a clothing retailer may offer ‘an additional 20 per cent off sale t-shirts’ one day and a ‘buy three sale items and get the fourth free’ the next. This strategy gives you the opportunity to attract the same customer in store two days in a row, instead of once only.
3. Make great customer service a priority
While prices are dropping at sales time, your service standards definitely shouldn’t be! If you’re a retailer, give your customers a service experience that will make them want to come back, and hopefully first time customers will become regulars. With increased foot traffic in-store, be sure to roster on enough staff to give customers effortless and enjoyable service.
4. Tell in-store visitors what your business is up to
Get chatting with your customers and in-store visitors. For customers on your database, use e-newsletters and social media during January to share what’s happening in your small business and entice them in store to buy, or buy online. For cafes and restaurants it may be to share your new menu options, while for retailers it could be to promote your sale or a new range that’s arriving soon.
5. Offer a resolutions-led offer
Many of us see a new year as a time to tackle a new goal or make a fresh start, so why not offer special deals that encourage or support this? For example, getting fit is a common New Year resolution, so health and fitness businesses, like gyms and personal trainers, may choose to offer deals in line with this, such as waiving the joining fee or offering reduced annual fees to new members signing up in January. Booksellers can feature healthy recipes and self-help books, or provide group buying discounts to those starting a book club.
6. Give your customers something FREE
The nature of your business may mean it doesn’t partake in sale season, but that doesn’t mean you can’t join in on the busy January sales period. Consider small things you can do to entice customers to spend money with you, whether it’s running a Friday night wine tasting session at your bottle shop, offering freebie bite-sized samples of your cafe’s new cookies with every coffee, or a complimentary styling session for shoppers looking to update their wardrobe at your clothing store.
Want to grow your small business this New Year? Talk to Prospa about a business loan.
If you’ve got some of your personal finances mixed in with your business finances, here’s four reasons why you might consider starting the separation process.View more
Subscribe to the Prospa Blog
Be inspired! Sign up to Prospa’s newsletter to receive tips, tools and small business success stories straight to your inbox.