A company's profit margin suffers during the week between Christmas and New Year's Eve. The right techniques can generate more revenue during this period. Because of the varied situations, most businesses may face a slow sales period after the Christmas sale.
The last week of December and January can be a slow time for retailers and other businesses. The Holiday season towards the end of the year and the beginning of a new year tends to bring big results for retail businesses. Analyzing the holiday data is important for businesses because it will help you aim your marketing or advertising budget around the holidays that provide the most sales opportunities.
For business firms, the final week of December and January may be a dull time. December and January usually brings great results for retailers. Holiday data analysis is critical for organizations because it helps target marketing and advertising budgets to the most profitable holidays.
Tips to Increase Sales After Christmas and New Year Eve
Let the Marketing Efforts Flow
Most businesses make the error of ceasing their distinctive marketing efforts after the holidays. Throughout the year, strengthen your marketing strategies. After the holiday season, companies stop sending emails, advertising, and engaging PR and media. The reality is that the week before New Year's, people are still in a buying mood. They are swapping gifts and cashing in gift certificates to spend Christmas money. Maintain an active post-holiday marketing and specials strategy through the new year.
Substitute for Advertising
Advertising is a typical technique to enhance sales after Christmas. However, you can cut back on advertising spending during the post-Christmas season. Pay yourself or utilize some of your money to motivate your staff' customer service performance during these critical days instead of spending on advertisements. Another innovative way to repurpose money that would have been spent on advertising is to utilize it to provide incentives to your consumers.
January Valid Gift Cards and Deals
Take advantage of the significant increase in traffic over the Christmas season. Give your customers gift vouchers valid through January with their purchases. Rather than a discount, give a gift card because people may both buy gifts for loved ones and pamper themselves. Never forget to express gratitude to all your consumers and to provide them something special in exchange for their holiday buying. You could, for example, waive delivery and return fees and extend the return deadline.
Appreciating Your Employees
Appreciate your employees because they have just endured the most arduous four weeks of their employment. If you want to increase your business's sales and productivity, it's critical to recognize your employees' efforts. You should demonstrate your concern for them by acting in certain ways. For instance, provide them with additional breaks and catered lunches.
Frame a Social Media Competition
In the age of digitization, social media is a critical marketing tool. Creating a social media competition will help you gain more exposure and turn your event into a special occasion. You will boost the number of people who like you on Facebook, Twitter, and Instagram. You can also learn more about your consumers and utilize that data to customize your marketing.
Reaching Out to Abandoned Cart Customers
Keep an eye on your shopping cart at all times. It will allow you to keep track of how many customers abandoned their shopping carts. You can reclaim their interest by sending them 'special deals.' It's an excellent technique to generate repeat visitors to your website and sales. Buyers typically utilize the cart to save things for later purchase or to browse and purchase on another device. Numerous shoppers even use the cart as a wish list. If you can gather email addresses from abandoned carts, you'll have a qualified group of shoppers to promote to after the holidays.
In the US, several retailers call post-Christmas sales “After Christmas Sales.” They frequently offer steep discounts to move inventory and make room for new things for the new year.
Implement these strategies in your business and you'll see an increase in revenue following the December holidays.
Wish you a Merry Christmas and Happy New Year!