Plenty of businesses come up with gimmicks to get consumers in the door, offering a variety of sales tactics designed to appeal to both long-time patrons and new customers alike. Some of these sales do so well that they become famously associated with a particular brand, such as the Payless BOGO sales, Macy’s Clinique Days, and Golden Corral’s Veteran’s Day Free Meals for Vets.
In some cases, these sales are inspired, while in other cases they’re fairly run-of-the-mill, but with a clever twist. Payless wasn’t the first company to offer a buy-one-get-one sale, but they did famously popularize the acronym “BOGO,” which is now closely linked to their stores thanks to frequent sales and advertising featuring the term.
As a retail shop owner, you don’t need to reinvent the wheel when it comes to using sales to your advantage. You just have to figure out ways to use more famous sales to your benefit. Here are a few strategies that could allow you to ride the coattails of larger competitors and gain some momentum for your own sales.
Follow Their Style
Just because Payless ShoeSource is well known for their BOGO sales doesn’t mean they hold a franchise on the concept. Anyone can run with the idea of buying something at full price and getting a second item for 50% off, or even for free.
Some businesses even go a step further and offer buy-one-get-two free, or alternately, allow consumers to buy one full-price item and get any other item of equal or lesser value at a discount, or for free. You can definitely play around with the idea and make it your own. Because people recognize the term BOGO, it is easy to convey this type of sale.
Competing Sales
Macy’s department stores sell a slew of goods, including several makeup brands. They have become well-known for their Clinique days, however, held twice a year in spring and fall, when purchasing a certain dollar amount worth of goods will net you bonuses, including free samples, free gifts, and/or free shipping.
This is a great basis for a sale because it could not only boost sales during the promotional period, but it could also get customers hooked on the new products they receive as free samples, increasing sales down the line. It also brings customers into your store and, while they may be there for makeup, they may leave with a variety of other products. How can you take advantage?
You can host competing sales. If you’re not a cosmetics brand, you wouldn’t necessarily compete with Macy’s and Clinique, per se, but you can keep an eye on what your actual competitors are doing to combat their sales with sales of your own.
If You Can’t Beat ‘Em, Join ‘Em
For more than a decade, Golden Corral has honored American veterans by offering them a free buffet meal and drink on Veteran’s Day, and this has proven so popular that a slew of other brands (Denny’s, IHOP, Red Lobster, and Starbucks, to name a few) have jumped on the bandwagon. If a competitor comes up with a promotion that earns goodwill and increased sales through charity to a particular group and you want to get in on it, simply join the cause.
While the focus of this promotion is on Veterans, there are others way to expand on this idea based on your product line and your customer base. Grandparents Day is a great way to honor multi-generational families and perhaps expose new customers to your brand!
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