Just because the leaves turn doesn’t mean profits have to fall. August 23, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. Fall is just around the corner. While some people will mourn the end of summer, others will rejoice, celebrating the cooler weather and everything that comes with it, including back-to-school week,
Just because the leaves turn doesn’t mean profits have to fall.
4 min read
Opinions expressed by Entrepreneur contributors are their own.
Fall is just around the corner. While some people will mourn the end of summer, others will rejoice, celebrating the cooler weather and everything that comes with it, including back-to-school week, Thanksgiving and Halloween. And your business should be piggybacking off that excitement to boost sales. In fact, according to the National Retail Federation, back-to-school shopping represents the second-biggest spending event of the year, with the average household planning to shell out nearly $700 on related clothes and supplies this year.
Ultimately, all seasonal changes can and should be exicting for growing businesses, and here’s how to boost sales at those junctures accordingly.
Since the fall retail season is only about three months long, shoppers have a limited time to get their fix of autumnal items. You can use this scenario to your advantage by leveraging the principle of scarcity, or the idea that people put more value on things that are not readily available or easy to obtain. In other words, when people think they can’t have a product, it makes it even more desirable.
A famous example of this is Starbucks’s Pumpkin Spice Latte, which is already available for this coming fall as we speak. People line up out the door for this limited-run annual beverage, which has reportedly reaped $1.4 billion in sales since 2003. Of course, you don’t have to create an entirely new innovation, so long as you offer up something special to your customers this season that they’ll rush to buy before it’s too late.
Build Off-Season Hype
Seasonal-product marketing can be used to build hype around your company year-round. Again, going back to the principle of scarcity, people want what they can’t have. So, by promoting your seasonal products off-season, it will get shoppers excited about what’s to come. And in turn, while they wait for your exciting seasonal products to arrive in stock, they can check out what you currently have to offer.
Stage a Sale
No matter the season, there’s nothing more exciting to shoppers than a good deal, and you can drive drive them to your store by promoting seasonal product sales. For example, a recent blast from gifts-and-accessories vendor Mark and Graham offered email subscribers 15 percent off Halloween- and fall-themed products. Customers might not have planned on purchasing a multitude of seasonal decor items, but because they’re at a discount, they’ll be likelier to take advantage.
Run a Giveaway
Now, what do you do if your business doesn’t sell seasonal products? Don’t worry, you can still get your customers excited with a seasonal-themed giveaway. Most people would love to win an awesome prize during this or any other busy shopping period. For instance, Chipotle ran this back-to-school giveaway for college students with the dual grand prize of a catering party and a $1,000 Target gift card.
Choose a prize for your giveaway that will not only excite your audience, but prove practically useful. A great giveaway will, at minimum, drive tons of traffic to your website, ensuring that while visitors are entering your contest, they’ll check out what else you have to offer.
Over to You
A new season means change, but not only in the weather. With these tips on how to boost sales, both you and your customers can celebrate this and every season.