If you are Gift stores retailers, then you would be aware of the fact that the sales don't remain at the same peak and keep on slumping. Whether it is due to seasonal sales fluctuations or due to declined foot traffic, there would be not any retailer who won't face such sort of sales slump at some parts of the year. To survive in these non-profitable days and to get more sales during a slow day, here are some tips which you and your staff members can use.
● Create holidays
Do you know why the sales get increased during the holidays and remain normal or below normal on routine days? The reason is the people love to participate in celebrations since it gives them some time away from their daily life sufferings and exhausted dealings. For this purpose, people rush down towards the boutiques, and the gift shops to buy clothes and gifts for Christmas or national holidays and you, as a retailer, earn huge profit from it.
So why wait for a holiday for the entire year when you can create your own? Yes, it is possible since you can arrange your very specific store holiday in which you can arrange fun activities, attractively decorate your store and offer special discounts and deals.
● Pricing strategy
If you are involved in businesses like hospitals & hotel gift stores, then it could be quite hard for you to make effective and profitable pricing strategies since there are a lot of competitors in the market and a very low profit margin on products. However, to remain highlighted in this crowd, it is important to consider the cost of sell and purchase thoroughly. Keep your prices low- so it can beat the other competitors in the market, but not that low that you could not earn any profit from them.
No comments:
Post a Comment