Bargain buyers are on the loose! Thousands of them! Maybe millions! And they’re all after the same prize – deep, deep discounts. It’s those after-Christmas sales. They do it every year.
But the sales are doing more than luring shoppers. They’re also igniting fierce competition. Brands are in a heated battle for after-holiday market share. But with bargain hunters in limited supply, things are tight. Which means brands must stand out in a crowded field. And that requires precision marketing.
Let’s start with the centerpiece of after-holiday marketing – the deep discount. Yeah, like it or not, if you’re chin-deep in inventory, some of it must go – maybe all of it. There are many ways to eliminate the overstock. But historically speaking, the best one is a generous price reduction. Brands, however, must be realistic with discounts. The less popular an item or items, the more hammering you must do to its price.
Special offers also make excellent sales stimulants. But this year, why not sidestep the routine and mundane. Instead of ‘buy one, get one free,’ try something like ‘buy one, and we’ll automatically forward a specially selected gift to your favorite friend, prospective lover, bribable boss, random stranger, or household pet.
Employ the above, and you’ll be well-positioned to triumph in the battle for the bargain buyer. But wait, there’s more…
As the final touch to your post-yuletide blitz, try categorizing past customers into identifiable segments. Then tailor leftover merchandise and marketing efforts to each group. For instance, perhaps your warehouse is stuffed with beach sandals that somehow didn’t move in the frigid winter months. No problem. Simply identify a group of possible buyers (based on past shopping habits), discount accordingly, and tantalize unceasingly with stellar marketing.