Sale season doesn’t start and stop with Black Friday. Nordstrom, Victoria’s Secret and Amazon are great examples of huge retailers that have perfected the art of the seasonal sale. Their die-hard customers religiously wait for these regular sales events.
Victoria’s Secret has its semi-annual sale blowout with bras in bins and huge banners all over the store, television commercials and mall billboards that are strategically set for right around the holidays and summer. During Nordstrom’s sale events, the company offers in-store events, how-to styling tips from celebrities and fashion gurus, and free samples. And Amazon is changing the game with their record-breaking Amazon Prime day that not only offers great deals to Prime members, but requires non-members to sign up for their Amazon Prime service to partake in the sale.
If you’re interested in utilizing seasonal sales for your business, take these tips into consideration.
Timing Is Everything
Give your customers what they want, when they want it. It might be tempting to offer a sale on winter items at the end of the season, but that only helps you clear out inventory. By giving your customers sales on products they need and want right now, you’ll encourage impulse buys and more full shopping carts. For example, Cabela’s knows that summer is a great time for camping, but fall is the time for many sportsmen to get out into the wilderness; that’s why their Fall Great Outdoor Days sale does so well year after year.
Discount With Caution
It’s tempting to do what the big-name retailers do and slash prices by big percentages in order to drive sales. But once customers see an item that used to cost a $100 on sale for $40, they may not view your product as a luxury item worth $100 again.
If you’re an e-commerce site with wholesale accounts, big discounts can also damage your relationship with retailers. For instance, if a customer buys your product from a retailer and then finds the same product on your site for less, they might view the retailer as overpriced and not return as a customer. Your first allegiance should always be to your wholesale accounts.
This doesn’t mean you can’t incentivize your online customers. Offer them a gift with purchase, a buy-one-get-one-free offer, free shipping or a gift certificate toward their next purchase. You can also offer a cash-back offer like “get $50 off your order when you spend $250.” This way, customers are rewarded for spending more money on your site, not scrounging around for the cheapest deal. “Spend more to save more” is a great motto to instill in any customer, new or returning.
Get Social Media Talking
Amazon Prime day broke all kinds of records this year and has financial analysts calling it the Black Friday in July, CBNC reports. Customers and analysts alike were particularly amused by some of the deals offered by Amazon. While they had epic sales on everyone’s go-to items like flat screen TV’s, they also offered deals on strange items, like a toilet bowl nightlight. These items, found on their site’s “Weird and Wonderful” page, were some of the most shared on social media and drove even more traffic to the sale. The items also helped Amazon double their social media mentions this year compared to last.
Get creative with your deals, make people laugh and encourage them to share your sale on their social media to maximize your efforts and reach new customers organically.