For any business, especially those in retail, there are inevitably quieter times of the year when sales will slump. It can be for many reasons, such as bad weather, the economy or roadworks closing the street. Sometimes these things can cause an effect that can last long after the issues have been resolved. So, what do you do if you have a slump in your sales? Here are some ideas to build your profits back up again.
Celebrate a Special Day
When it comes to shoppers, they love to celebrate a holiday by looking for bargains. Not just the traditional holiday celebrations, but also anytime. If you want to get your shoppers into a spending mood, try cashing in on these other lesser known opportunities. If there is a national celebration day that is linked to your products such as national chocolate day, then have a party and invite your customers. Offer them discounts, and you will see your sales figures react positively.
Increase Your Advertising
Even though your profits are going down, you need to start spending more on your marketing. Newspaper, television, and magazines are great places to place an ad, particularly magazines related to your products. You can also take advantage of free advertising using social media, let people know that you are still around and tell them about some of your offers. Another way to spread the word is to have a leaflet drop near your store, post some in the local community and include money off voucher.
Encourage Feedback
Sometimes a fall in sales can occur for no obvious reason or at least none that you can identify. So, a good idea can be to encourage some feedback either on your social media or via a paid survey. You might see a pattern of answers that will give you some idea of the problems. It might be that your customers are waiting too long to be served, so you could speed things up by adding quicker and more secure point of sale systems or employing more staff. It could be that you have changed supplier and your customers don’t like the new products. Whatever the reason, it can be useful to ask the questions.
Rethink Your Stores
Sometimes, your customers might not understand what you are trying to sell. That can lead to people not being attracted into your stores to buy your products. Evaluate your products and the information you are displaying. Ask your customers what they think about your products and if they know what they do. Your customers won’t want anything if they don’t know exactly what it is, so tell them what it does, and why they need it.
The best way to try and avoid a dip in sales is to anticipate it if you know your street is going to close, or bad weather is coming, then increase your advertising to try and get more people through the doors. You may then be able to weather the drop before it gets too bad.
