02 22 2017

Marketing in Retail: How can you maximize profits by anticipating seasonality?

Marketing in retail in today’s market requires creativity and a well thought out plan.

marketing in retail

marketing in retail

Seasonal marketing is nothing new to marketing in retail. We see it in action during the major holidays such as Christmas, Easter and Thanksgiving. But what about those crazy holidays such as ‘National Hot Dog Day’, or ‘National Teddy Bear Day’? These unique holidays also offer businesses an opportunity to increase impulse buying. It’s a fact that consumers spend more money during the holidays.

Here’s an example of how to take advantage of these unique holidays. Say you own a bike shop and Friday is National Bike Safety Day. On Wednesday you can send an SMS message or email to your customers with a 10% off coupon saying “Friday is ‘National Bike Safety Day’ to celebrate redeem this coupon for 10% off the purchase of a safety helmet”.

New seasons and seasonal activities bring with them many opportunities to capture impulse buyers. Don’t just think about the traditional activities that come with each season, go a little step further. Think about the activities families plan for each season such as sports, picnics in the park, snowman building, summer pool parties, end of the year parties at school and bonfires in the fall. For each of these activities, create promotions, maximize your store displays, and include these events in your marketing plan. Send out emails, newsletters highlighting these events, and mobile campaigns that offer special discounts.

While many companies take full advantage of seasonality, it’s surprising how many don’t. Here’s a great example of a seasonality fail. A consumer friend, checking out her purchase at a local store noticed a display of large marshmallows, she picked them up and saw chocolate bars next to them and thought to herself…ah Smores! However, there were no graham crackers to be found. She was already in the checkout line and chose not to leave it to hunt down graham crackers. So, she put the marshmallows back and proceeded to check out. The retailer missed an opportunity to maximize the display and increase their sale.

To take full advantage of these holidays and other seasonal activities, you should create a marketing calendar for the year. Indicate all of the holidays, including the unique ones and seasonal activities and create marking plans around them. Utilize your SMS messaging, proximity marketing, online, mobile and social media marketing to maximize your marketing plan.

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