Don’t Let the Post-Holiday Slump Hit Your Small Biz!
The holiday season has come and gone, and now many small business owners are looking at extra inventory and wondering what to do next. Developing an effective post-holiday sales strategy is crucial for clearing out products, bringing in revenue during slower seasons, and making way for new inventory.
As a small business coach who works with owners year-round, I’ve helped clients navigate these winter months many times. In this article, I’ll share my top tips for capitalizing on post-holiday shopping trends and running sales that not only sell through your stock, but also build buzz and loyalty for the future.
Time Your Promotions Strategically
Many customers expect sales in the few days after Christmas and even into early January. However, it’s important not to discount too soon. Give yourself enough margin to earn full-price holiday sales before slashing prices.
I recommend beginning your post-Christmas promotions anywhere from December 26th-28th and running them through at least mid-January. Keep a close eye on inventory levels and customer engagement to extend discounts if needed.
Another key strategy is planning sale periods around long weekends and occasions like New Year’s, where you’ll capture more foot traffic or online visitors.
Highlight Specific Categories
Rather than sitewide sales, focus your holiday discounts on categories with the most remaining inventory. Feature them prominently in store displays or dedicated website/email sections. Never assume customers know certain products are overstocked or ripe for sales.
Categories like holiday gifts and decor, toys, apparel, and seasonal foods typically see surpluses post-celebrations. Spotlight them at tiered markdowns with eye-catching signs or social media graphics that spark urgency.
For example, if you’re an apparel boutique, showcase winter clothing deals while transitioning your store presentation toward spring lines. Buyers will jump at the value pricing while getting excited about new arrivals.
Offer Irresistible Bundles
Product bundles continue trending thanks to their built-in value. Curate discounted bundles that boost specific overstock items and appeal to customers’ shifting needs after the gifting season.
Some ideas are self-care packages for relaxation after busy holidays or cold-weather entertainment bundles for those spending more time indoors. Get creative with what bundles make sense for your niche while moving old products.
Introduce tiered deals like gift-with-purchase offers to increase average order value. The extra perceived savings often entice larger purchases and quick selling for excess inventory.
Maximize Your Outreach
Aggressively advertise post-holiday promotions through your existing marketing channels plus seasonal opportunities.
Send holiday email lists discounted deal newsletters. Run social media sweepstakes for product bundles or store gift cards to spur engagement. Pitch local media on deals for mention in holiday recovery gift guides.
Flyer distribution via mail or partnerships with neighboring businesses also captures different audiences. Include calls to “Shop Local” and support small businesses to rally your community around you.
Make the customer experience festive by keeping up decor through January. Train staff to highlight deals to every customer. Update onsite signage frequently with marketplace-style language like “Blowout Clearance!” Along with seasonal cheer, maintaining an ambience of urgency drives results.
Learn and Reset for 2023
While vital for your winter revenues, holiday aftermath sales provide invaluable insights for improving next year’s strategy. Keep detailed records on what sold quickly versus items that lingered even at deep discounts. Use this intel to evolve purchasing plans based on real sales patterns.
Take stock of holiday customer lists, inventory tracking methods, staffing needs, hours, merchandising, and all operational facets that underperformed. Brainstorm fresh ideas with your team. Regroup in a January strategic planning meeting to reset calendars and budgets for 2023’s holiday rush.
The hustle doesn’t stop for small businesses after Christmas. Though chaotic, these winter months hold real potential for profit while laying groundwork for the year ahead. Just remember to infuse promotions with creativity and sub-seasonal trends.
If you need help developing the perfect post-holiday sale strategy for your small business’ success, I’m here to assist. Let’s connect to craft multi-channel promotions, inventory solutions, and profit-driving guidance designed for you. Simply send me a DM telling me more about your business, and we’ll take it from there!