If I could get my Christmas wish in early (very early!) it would be this: That you will get to Christmas Day with a good amount of profit in your account and you’ll be able to do more than wish you were napping all day over the stat days!
This is your time of the year for you to maximise your profit, put some extra away for some of the leaner months, and move a whole heap of stock. And to do that, we need a plan.
Of course when we say Christmas we know that this upcoming quarter has far more in store for us from Labour Day, to Black Friday and to the Yuletide bleary eyed shopping to get everything done and dusted for Summer holidays.
In today’s episode, we’re talking what options you have around promotional periods and themes for the season, why you need to consider which types of promotion goes with which event, and how to target the marketing to five different shopping types.
You are often training your customers to wait for sales, and this can eradicate your margins, prevent growth and cannibalize your own business. This has to stop!
“I know that for some businesses, they have trained me to be a bargain hunter, I only ever buy from the sales because they have sales all the time. Other businesses, I will think about what I'm buying and I'll buy high value prices I never would consider asking for the sales”
This quarter is huge - so I’m also inviting those who want to dig a bit deeper to come along to a webinar with me on October the 7th to make a plan, and get some extra help. The link is in the show notes.
Today we’re covering
- Why profit is the measure over turnover
- What not to do during this period
- What products you should never discount
- What four types of promotional offers you should use
- How to pull in different buying personas
- What options you have as an independent retailer
- How to tie this together into a quarterly promotional plan
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