Sally is making the most out of the Holiday Season at her vintage boutique but she knows that soon things are going to change for the worse if she doesn’t prepare. For years her shop took a hit after the holidays until she found a few simple hacks last year that increased her retail sales into the new year.
Sally is not much different than the rest of us that operate a retail vintage boutiques. Steady sales throughout the year are nice, but things tend to get hectic around the holidays. If you’re stressed out because you put all your focus on the holiday sales season, don’t miss a huge opportunity to boost your retail sales after the new year, which is typically a slower time of the year for many.
Plenty of people will be heading into stores throughout the month of January to exchange unwanted items, cash in gift cards or spend gifted money. With the right approach and some advance planning, you can continue to capture their attention, and their dollars, well into the new year.
6 Ways to Boost Your Retail Sales Into the New Year
1.) Lure Them Back With Limited-Time Offers Good Only in January
Sally was a sucker for “Kohl’s cash.” The national chain periodically rewards shoppers with $10 to spend for every $50 in purchases. The catch: Kohl’s cash can only be spent during a certain window of time.
Since it feels like free money, Sally almost always end up checking out the store before her Kohl’s cash expires and spending a lot more than she received in “free money.” She used this same concept to reward her customers with store “cash,” gift cards or percentage/dollar-off deals. Whatever you choose, the key is to focus on getting your customers back into your store in January, a frequently slow sales month.
2.) Sell Gift Cards
Gift cards were the number one most popular gift last year. So if your store sells them, you have built-in sales in January (and even later). Even if customers never redeem their cards, you’ve gotten paid for the face value. But if you can get them to come into your store in January, all the better, since they’ll usually spend more than the amount of the card.
3.) Follow Up With Holiday Shoppers
Make sure you capture email addresses from people who shop at your store over the next four weeks. If you do that, you can then reach out again in January with an email marketing message. You can do a soft sell with a digital “Happy New Year” eCard and a gentle reminder to come in and take advantage of year-end clearance items, or sweeten the pot with a discount offer.
4.) Use Loss Leaders
January is the perfect time to get rid of slow-moving items that didn’t sell well. Discount them to rock-bottom prices to get people into your store. And then entice those customers with well-merchandised displays for full-priced items.
5.) Try a Fun Promo
Consumers are likely to feel a letdown as they head back to work and open their credit card statements that reflect high balances from all of their recent spending.
Put them back in a good mood with fun contests, giveaways or challenges. Give away a free gift with purchases. Hold a drawing in the store for a prize such as a $100 gift card or a desirable product. Or have customers bring in the biggest “white elephant” gift they got this year to receive a $10 gift card in exchange.
6.) Look to the Future
The new year is a time when people are ready for change. Try marketing that emphasizes how your business can help them usher in “the new.” Whether it’s by purchasing snazzy new workout wear from your boutique to motivate a fitness regimen, overhauling the home entertainment center with surround sound speakers from your electronics store, or redecorating the living room for spring, there are plenty of ways to get customers energized about new projects — and into your store to get those projects going.
This time around Sally is ready and is showing no signs of stress as we head into the New Year. By creating promos, incentive and rewards her vintage store’s sales are steady as she is set for smooth sailing into the next season. Find out what Sally knows, learn more about the science behind sustainable fashion and vintage retail at Factoryvintage.com