Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Sales and other Entrepreneur topics.
What can you do when sales are slow? Should you pack things up and call it quits? Never!
If business is slow, slash prices. The reason customers aren't frequenting your store may be because your competitors are marking down their own products. To fight fire with fire, offer your own sales and promotions.
Even if demand is low for a product (gift baskets sold any time outside of the holidays don't sell as well, for example), putting it on sale can get customers to buy a product they may not have considered otherwise.
Package Deal: If you have a specific product that you just can't move off the shelves, consider tying it to the sale of another product. For instance, if you have trouble selling antibacterial soap, add it as a giveaway to the purchase of body wash. You can even raise the price for the package deal, making the package cheaper than buying the two. It's better to sell both at a discounted price than to not sell the antibacterial soap at all.
Percent Off: If you offer a coupon for 10 or 20 percent off of anything in your store, it encourages people to buy more. Shoppers have the “buy more, save more” mentality, so this is a great method to generate sales.