A little promotional planning can bring big rewards
By Michael Posa, FTS
Here we are in the midst of the holiday shopping season, with only a few weeks left to prepare for year-end, post-holiday promotions.
Let’s finish 2023 strong with a focus on clearing out holiday inventory and embracing technology to move your businesses forward. Here are a few suggestions:
Advertise Your Financing. It’s the end of the year and money is tight, but folks still want to add that last piece of furniture before the guests arrive, so scream your financing deals! Phrases like “Easy financing” and “No payments until 2025” catch the consumer’s attention. FTS has multiple financing options, including waterfall financing.
Take a Lemon and Make Lemonade. Be creative with the inventory you have already identified as bad. Rather than continuing to mark down items that aren’t selling, even at reduced prices, give them away (along with qualifying purchases). People love anything free. For example, create a corral of products with bronze, silver or gold stars to indicate their value level, and set the dollar amount for each tier that a customer would need to spend in order to select a complimentary item. There are multiple ways to structure this; involve your staff to get the creative juices flowing.
Hold a Year-End Open House. It’s shocking how an in-store banquet can bring people in. Create a customer appreciation event that features food and treats — along with year-end sales and a look ahead at what’s new for 2024. Schedule it between Christmas and New Year’s to get those shoppers who took the whole week off to spend some time at your store or website.
Host an End-of-the-Year Ladies Day. What better way to spend an afternoon than shopping for furniture and drinking wine? Have a women-only event where you provide the libations and the pampering. Moms have just made it through the holidays and are ready to do something for themselves, so make it easy for them. Sit your guests down with a fine glass of wine and join them, tablet and digital assortment at hand, for a relaxing shopping experience.
Scream ‘Year-End Sale’ Online. Remember, customers shop your website first, so give them a reason to visit. Our FTS and AVB Marketing teams are staffed with talented, creative people to help you achieve your fourth-quarter and Q1 sales goals.
Michael Posa is general manager of home furnishings and the Furniture Technology Source (FTS) lead for YSN publisher AVB Inc.