‘Events’ are a great way of creating focus on your business and driving additional SALES peaks. All sorts of events are held locally, nationally and internationally and what you have to decide is which ones are the most relevant to you?
For each event you want to be involved in, you also need to consider whether you can afford the extra stock needed, the display props, and the markdown etc.
If you are in the card and gift market your customers will expect you to have a Valentines, Mother’s Day, Easter and Father’s Day offer. Your decision is how big an offer can you afford in terms of buying the stock and the display space required, and therefore the other products that will need to be removed for the period. Are they products that are specifically messaged to the occasion or are relevant but more generic and therefore can be kept on sale after the event?
You also need to consider whether you can afford not to? For me Halloween and Easter are good examples of this…
Easter seems to be growing as a sales opportunity; not necessarily around the religious occasion but children’s activities linked into Easter and the holidays. Halloween however may be less successful for many and given its timing it may be better to use the space and your cash to buy other lines for Christmas.
Whatever you decide, if you are doing offers you have to understand the impact on your sales and profit. If the promotion is not going to lift the volume of your sales sufficiently it may not be worth doing it. You may decide that despite this it is valuable to you to get noticed/ clear stock etc. And if it is not right for you - can you do something similar to get some share of voice?