Opportunities for a bargain
Don’t overlook those bumper post-Christmas sales
Make sure you don’t miss opportunities in the sales
Just how important post-Christmas sales are to industries? The ‘most wonderful time of the year’ is upon us. Coca Cola’s famous truck has hit our TV screens, Mariah Carey is back on the radio and crooner Michael Bublé has announced his tour.
But, while we took advantage of Black Friday deals – the average saving on deals in the US on the event last year was 37% – and wrapped up our Christmas shopping, with November 26 (Cyber Monday) being the year’s biggest day for online retail sales, have you ever wondered just how important post-Christmas sales are to industries?
Here, we take a look:
Boxing day sales
The UK’s post-Christmas sales in 2017 of £11 billion made December the biggest spending month to date. Bargain hunters have a field day on Boxing Day, with certain prices cut by up to 92%. This firm favourite in the shopping calendar, which used to be the nation’s most popular shopping day until Black Friday’s introduction in 2017, is used by retailers as a way to clear their old stock, and shoppers have now made these sales a tradition. Last year saw over 23 million shoppers hunt for deals on Boxing Day. In Canada, 30% of the public believe that the best deals of the year are found on this day.
It was predicted by the New West End Company that more than £50m would have been spent on London’s West End on 26th December 2017. This would have made sales across the country total over £4.5 billion. This dwarfed the Black Friday figures of £1.67 billion, with companies such as Next placing a lot of emphasis on this day. They resist the urge to follow suit and don’t reduce their products for a sale until Boxing Day, bringing crowds flocking to their stores the day after Christmas.
While, in the past, retailers have expected queues outside their high street stores, nowadays, an online presence is possibly more significant. Last year’s high street sales were down by 4.5% compared to the previous year. Hardware and technology stores were hit the hardest, according to reports. But those companies with a strong online presence, can sweep up sales and really enhance their profit margins.
Blue Monday – known officially the most depressing day of the year –falls on the third Monday in January, says life coach and happiness consultant, to Cliff Arnall. For retailers and local shops, sales may dwindle in the early months of the year following the Christmas holiday shopping hangover. However, businesses have the chance to really cash in during January.
The fitness sector is one industry that benefits from January sales is the fitness sector. The most common New Year’s resolutions are to eat better, exercise more and spend less money. This is where fitness establishments can gain, by offering impressive January sales to entice new customers to sign up.
Dealerships selling new cars also have a great opportunity to benefit from offering sales in January. While deals must entice potential buyers to spend, it can help clear stock before the looming plate change in March. Dealers make the most money if they sell a new model, so it makes sense for them to clear potentially ‘old’ stock before the new registrations and models hit the forecourt.
How to beat the competition
Organisation is crucial. Post-Christmas sales can allow you to start afresh when your new cargo comes and this is why post-Christmas sales, such as Boxing Day sales and January sales, are important.
But, what is the best way to stand out from the crowd? Fashion retailer Quiz was praised in January for offering speedier deliveries and the ‘try before you buy’ offer, in which customers could order items but only pay once they had chosen those they wished to keep. Its range of long sleeved dresses were particularly popular last year! This gave the firm the edge over its competitors, especially during a time of the year in which many shoppers would be watching their finances.
Businesses certainly shouldn’t overlook just how important post-Christmas sales can be. They can be crucial for profit margins and old stock clearances. However, it’s important to correctly plan any sales to make sure you fully benefit from the opportunity that’s presented. Of course, pre-Christmas will take the focus in most marketing plans, but you’d be wrong to ignore the post-Christmas market.