A year in retail has many an ebb and flow. These shifts can manifest in various ways, depending on your niche. For example, a swimwear company may flourish in the summer but see fewer sales in winter, when many others are benefiting from the Christmas rush. When you know how the year plays out, seasonal promotions can be a great way to enhance conversions and revenue.
Seasonal Promotion Ideas
The Christmas period itself is when many businesses tend to roll out their biggest promotions, and particularly in the entertainment sector. This is a period when individuals are likely to spend plenty of time at home with friends and family, making it a prime occasion for promoting games and other diversions. An example of this at work can be found in online bingo promotions. Though they are plentiful all year round, at Christmas they have many unique offers. These can include special Christmas-themed games with prizes and large end-of-year jackpots. It is not just Christmas though, other holidays, like Valentines Day and Easter, also have their own tailored promotions that reflect the specifics of the occasion.
One tactic that can work during any season, however – and particularly if it is one with a narrow window – is a time-based incentive. You may provide a 24-hour window to buy a certain product at a discount or have a flash sale. Not only can this be used to boost sales, but you can use it to clear out stock at short notice. This is helpful if you need to refresh an inventory before the busy holiday season. Eurostar recently did this for their 30th anniversary, cleverly tying in the theme of the occasion by making the discount 30%, the same number as their company age.
Seasonal product bundles are also a great idea. These can help to increase both the number of individual sales and the amount of money spent per customer. For example, if someone is looking to buy suncream, they may get better value for their money if they purchase it from your store when bundled with mosquito repellent and aftersun.
The Benefits of Seasonal Promotions
Seasonal promotions primarily increase sales. If they are repeated annually, you can build these increased periods of activity into your financial predictions. Regular customers may even start to recognise them as events in their own right which provides further engagement. This is the second benefit, that of customer experience, as they will hopefully come to feel that they can depend on getting good and dynamic deals from your brand.
As mentioned, they can also help you clear out your inventory. You often see this with end-of-summer sales, when companies start preparing to get their holiday season items in stock. However, you do need to choose promotions carefully, as these are typically at a time when spending in general dips.
Seasonal promotions are a delicate art, but they can be hugely beneficial to your company. Think about your demographic and make sure you offer something of value. If done right, you should see notable increases to your profits and conversions.
