Have you ever shopped in a store that was dull and boring? You probably wandered in and out so quickly or disinterested that you can't even recall the store's name. As a retailer, you don't want your store to become one of those lackluster shopping experiences. A great way to avoid becoming mundane is by strategically planning promotional events for your retail store. And no better time than the Spring to grab a little attention!
I'm not talking about the twice-a-year markdown sale your store has when you place all the season's leftover items on a table and smack a "Reduced" sign on the front. That's not the type of strategic promotion I'm referring to. No, what I'm referring to is a specially orchestrated promotion that can have a significant impact on product demand and sales. By planning several of these exciting events each year, you're giving customers a reason to return to the store on a regular basis. If you haven't planned one for March here are a few events you could potentially focus your promotion around:
- St. Patrick's Day
- First Day of Spring
- March Madness
- Baseball Spring Training
- Academy Awards
There are over 12,000 other holidays and special celebratory events, day, weeks and months as well as holidays, historical anniversaries and festivals.listed in a copy of Chase's Calendar of Events. Don't let a promotional opportunity pass you by.
Retail Promotion Tips
- Choose a promotion that fits your industry, target audience and financial objectives
- Maintain an annual calendar of all planned and actual promotional events
- Seek out community partners to share workload and benefits
- Try to schedule well in advance to create an effective promotion
- Define measurable goals and objectives (sales, new customers, email addresses, etc.)
- Increase your open-to-buy and purchase extra inventory for special events
- Measure results
- Use an action log to ensure accountability for all post promotion follow up activities
- Debrief with staff to improve process for next event
What are you waiting for......start planning that Spring promotion!