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Saturday, February 13, 2010

Spring Promotions To Build Excitement And Sales

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
  • Passover
  • Easter
  • 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

  1. Choose a promotion that fits your industry, target audience and financial objectives
  2. Maintain an annual calendar of all planned and actual promotional events
  3. Seek out community partners to share workload and benefits
  4. Try to schedule well in advance to create an effective promotion
  5. Define measurable goals and objectives (sales, new customers, email addresses, etc.)
  6. Increase your open-to-buy and purchase extra inventory for special events
  7. Measure results
  8. Use an action log to ensure accountability for all post promotion follow up activities
  9. Debrief with staff to improve process for next event

What are you waiting for......start planning that Spring promotion!

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