Perhaps your holiday sales are already through the roof, good for you! Congrats! But now is not the time to get complacent. At this point, shoppers are getting pretty desperate to buy the “right gift” and they just need that extra push. When I use to have a retail store, our customers would snap up everything in sight, even the stuff that I couldn’t sell all year long, but there is one catch, it has be a a really good deal, it has to be “too good to pass up. You want your customer to say out loud “oh, I don’t need it, but its a such a deal” or “I’ll never see it again at this price”, you know, kinda like that feeling you get when you’re at COSTCO.
This is the time my friends to clear up all those old inventory that has just been sitting there. Get your money back or most of it anyways and add it to your cash flow. Cash is king and having cash will allow you to buy new equipment, or that new software that will help your marketing team with their KPI tracking or help run your back end more efficiently so that you can be better and “BADDER” next year.
I’m not going to nag you about this, you and I both know that you should mark down all those inventory that just been sitting there for the last 90 days. Go do it now and enjoy watching the sales roll in. Take advantage of this traffic season where buyers are eager to part with their hard earn dollar in search of landing the best deals online.
Happy Holidays and Cheers to your Business.
ps: Group stuff together (who doesn’t love bundles)(Buy 2 get 2 Free), makes it harder to compare pricing. Offer a good deal that will not only earn you a sale today but allow you to capture that very valuable customer data you’ve been after all year long.
By: Shirley Tan