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Feature
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Grabbing
Those Holiday Dollars! |
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By:
Fran Saperstein, Publisher, A-Z Magazines &
Carla Riley-Felt, Director, The SMART Group |
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In most retail industries, the holidays are the busiest and the most profitable time of year. So what can you do to be more profitable and increase traffic during the holidays?
First look at other industries to see how they drive traffic to their stores. Let’s take the toy industry, for example. Toys ‘R Us is already selling some of their holiday toys at significantly discounted sale prices. Look at their ads - they advertise heavily but not everything is on sale. They create the perception that everything is on sale. Their goal is twofold: first, use up the holiday money people have saved up before their competition can get to it, and second, create the perception that everything is on sale! How can you enlist the strategies of Toys ‘R Us for your store’s success?
Well, there are several lessons to be learned from the Toys R Us example:
1. Be the first to catch the cash - Start your holiday promotions early to catch the money before it goes to some other business. Create the need in your customer. Start the hype and the buzz about your store, generate promotions that guarantee she visits the store once a week!
2. Don’t be afraid to discount your merchandise now! Start marking down your older merchandise now. Don't wait until January. Add signage to your merchandise - let your customer know you are less expensive than (fill in the blank).
3. Package your products so they are easy to give as gifts: have organizer bags filled with product that are festively wrapped for the busy shopper to pick up for a friend or family member. Make well priced grab bags of products that kids can purchase for Mom. Package like products as any easy sale to a husband - 4 designs (2 pages each) of coordinating paper, with coordinating embellishments and stickers. Make sure it is already festive and pretty so he doesn't have to wrap it!
4. Market to the target end user - Toys R Us markets to kids who then bug their parents for the toys. Get your scrappers interested and they will tell their spouse, friends, and family.
5. Don’t forget gift certificates! They come in the perfect denominations and they fit perfectly into a handmade card. Put up a big sign in the front of the store or on the door advertising the 'perfect gift' - a gift certificate. 'Let her buy EXACTLY what she wants!' Gift Certificates are a great way to ensure January traffic for your store!
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