Maximising Retail Revenue over the Sales Period August 11, 2016 0 comments When it comes to the retail calendar, the sales period is undoubtedly one of the biggest money earners. From clearing old stock to banking profits for the quieter months that follow, a successful sale season is essential to maintaining a healthy turnover (and tidy stockroom!) throughout the year. In a survey of 10,000 consumers (conducted by shop4pop.com in December 2015), 56.9% of respondents said they would go shopping during the sale period – highlighting just how lucrative sales can be for retailers. Whether you’re wrapping up your summer sale or planning your strategy for January, it’s never too early or too late to tweak your approach and maximise profits. Today, we’re taking a look at some of the tricks of the trade, offering up our top tips when it comes to making the most of the seasonal sale period. Create a frenzy Anyone who’s shopped a sale will be familiar with the sense of satisfaction and achievement to be had in finding a great product at a great price. So, how can retailers capitalise on consumer psychology to maximise profits? When it comes to retail sale objectives, it’s all about clearing stock quickly – while making a profit. Bargain prices aside, many of the UK’s leading retailers are masters in creating a sense of urgency. From red cardboard dump bins and signage to pre-sale advertising and extended opening hours, the frenzied rush to snap up the best sale items is painstakingly engineered by retail experts – and when done correctly, it can pay off in your till-point takings. There’s a reason retailers choose the colour red for their sale quad posters and window clings, too. Colour can have a major impact on our mindset, with red and orange evoking a sense of urgency, action, energy and even danger – heightening the frenzied rush to snap up sale bargains. Related: Colour psychology and point of sale displays Incorporate reds and oranges into your sale signage, dump bins and window graphics in order to maximise your store’s call to action. Investing in pre-sale advertising can help build anticipation, too. From Facebook advertising to flyers, anything you can do to notify your customers about the upcoming sale is sure to drive extra footfall on the big day. Prime product positioning Once you’re confident you’ve drummed up enough interest, it’s time to ensure your sale items are clearly displayed and easily accessible throughout your store. Poor displays and confusing layouts only lead to frustration and abandoned shopping baskets – especially when it’s not clear which items are discounted and which aren’t. When it comes to fast-moving consumer goods (FMCGs) and impulse buys, gathering excess stock in a dump bin is a great way to draw attention to discounted products and free-up precious shelf space – making room for next season’s goods. Dump bins can be strategically placed around the store, and are especially effective in doorways, around queuing systems and next to gondola ends. Cardboard dump bins can even be customised with colours and graphics to ensure the offering is as explicit as it is enticing. Hanging signs and shelf wobblers can also help boost the visibility of sale products on your shelves, directing customers to store hot spots and stopping them in their tracks as they navigate the shop floor. Whether you’ve suffered disappointing sales in the past or just want to take your turnover to the next level, spare some thought for product positioning in your store. Designing and ordering temporary and moveable POS displays in advance of your next seasonal sale could prove invaluable during these key sales periods. Maximising your shelf space – allowing you to easily control and condense stock – and drawing attention to sale items, attractive dump bins and FSDUs offer the perfect retail remedy to a sale slump. So what are you waiting for? Take your next seasonal sale by the horns and see those profits soar. Shop our wide range of POS displays and dump bins online today, ensuring you’re prepared to make the most of your next sale. Got a question? Give us a call on 0191 419 8655 or send us a message and we’ll be happy to help. For more tips when it comes to promoting your sale, check out our blog post on the visual merchandising tools of the trade – with top tips on window dressing and and other POS displays.