Holiday sales are just the beginning for college stores. You want your students to find great presents for family and friends before they leave for winter break, but you also want to keep them shopping well into the new year when they come back to campus! Here are a few tips to encourage post-holiday spending at your store, selected from a post by Rieva Lesonsky for Small Business Trends.
Gift cards were the number one most popular gift last year. So if your store sells them, you have built-in sales in January (and even later). Even if customers never redeem their cards, you’ve gotten paid for the face value. But if you can get them to come into your store in January, all the better, since they’ll usually spend more than the amount of the card.
Use loss leaders
January is the perfect time to get rid of slow-moving items that didn’t sell well. Discount them to rock-bottom prices to get people into your store. And then entice those customers with well-merchandised displays for full-priced items.
Try a fun promo
Consumers are likely to feel a letdown as they head back to work (or school) and open their credit card statements that reflect high balances from all of their recent spending.
Put them back in a good mood with fun contests, giveaways or challenges. Give away a free gift with purchases. Hold a drawing in the store for a prize such as a gift card or a desirable product. Or have customers bring in the biggest “white elephant” gift they got this year to receive a small gift card in exchange.