Clearance sales are a necessary part of any retail operation, and when they’re successful, both you and your customers reap the benefits. Stores have the opportunity to move out a lot of old inventory and replace it with a new, full-priced inventory.
Shoppers get a great deal on items they may have been on the fence about buying before. They might even end up buying some full-priced items and spending more because they feel like they’re getting such a bargain. A well-managed clearance sale can deliver an uptick in-store traffic, encourage new customers to visit, and spur sales, all of which are great for your retail business.
Of course, it depends somewhat on your strategy. You can’t just throw clearance items in a bin at the back of the store and expect them to fly out of the store. You need to make sure consumers know you’re having a sale and create a clearly defined sale space in your store. Here are a few tips and tricks to help guarantee success with your upcoming clearance sale.
Prominent, Attractive Displays
Have you been to a Hot Topic lately? Their clearance section is literally just a bunch of cardboard boxes on a table, filled with a messy jumble of tees and gothic dresses that people mostly pass by rather than digging for some buried treasure they’ll probably never find.
You can do better, and it starts by treating your clearance section like the rest of your store instead of the seedy underbelly. It’s true that these items don’t share the same sticker value as newer goods, but they bring in shoppers, and this makes your clearance section valuable.
Create attractive displays with neat racks or shelving that draw shoppers in, and work to keep it neat. If your clearance sale is the main event and you have a lot of inventory to move, give these items prominent placement, or at least don’t bury the clearance section in some dark corner of the store.
Clear Signage
No matter where you place your clearance displays, the best way to direct shoppers toward them is with clear signage that identifies clearance items and pricing groups, if applicable. Don’t forget to post signage outside the store or on window displays to attract passersby, as well.
Retail Clearance Strategies – Reasons to Share
You’ll obviously want to advertise your clearance sale with proper marketing and promotion, but you also need to have a social media strategy, especially one that compels your online community to share and do some of the work of advertising for you. By starting a hashtag campaign, offering coupons or coupon codes, and even erecting a selfie station in-store, you can encourage customers to share on social media and spread the word about your clearance sale.
In Conclusion
With proper planning, including attractive displays, appropriate signage, and a strategy to get shoppers involved in your social media campaign, you have the best opportunity to guarantee a successful clearance sale.
If you are interested in purchasing Retail Store displays and accessories for your retail store, shop our website, Specialty Store Services. We have everything you need to be a profitable retailer. If you have a question that you would like answered immediately, you can Live Chat or phone us at 800-999-0771.