On Sale Now!
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How Can I Boost Sluggish Sales?
When business is slow, implement sales techniques that will effectively boost sales again.
But first, analyze why sales are down. Is it because your competitors are marking down their own products or is the economy just sluggish overall?
If the answer is that competitors are playing dirty, fight fire with fire. The easiest way? Sales promotions. Try these sales tips to lower prices and increase customer spending during slow seasons.
- Mark it down. Slashing prices will almost always make customers come running to your store. There are customers who can literally smell a sale!
If demand is low for a product (sweaters sold in summer don't sell well, for example), putting it on sale can get customers to buy a product they may not have considered otherwise, and it helps you clear out unwanted inventory.
- Bundle it. If you have a product that has sat on the shelves too long, tie it to the sale of another product. For instance, if you have trouble selling furry socks, give them away to anyone who buys a pair of shoes.
You can charge more for the package deal, as long as you keep the package price cheaper than buying the two items individually.
- Storewide Discount. By offering your customers a coupon for 10 or 20 percent off anything in your store, they will buy more. Shoppers have the “buy more, save more” mentality, so you will quickly see a boost in your sales with this strategy.