The New Year means fresh stock and new product arrivals from a retail perspective. With this comes excitement and enthusiasm for showcasing a brand-new range of products. Before this, however, you need to be focused on getting rid of your existing stock. The best way to do this is by leveraging year-end sales so shoppers can get your products at discounted prices.
New Year clearance sales are one of the best ways retailers can sell their old stock to make way for the new. Not only will your inventory manager thank you, but you can also make the most of unsold stock or slow-moving products– a winning strategy for shoppers and retailers!
We’re bringing you five ways you can help your New Year sales skyrocket next year!
Let’s get started.
1. Strategically Discount Seasonal Merchandise
Seasonal merchandise is often more challenging to sell than other all-year-round products. It makes sense to discount these more heavily than your other sale items. While it may seem counterproductive to do this, it’s a quicker way to rid your inventory of slow-moving items.
A pro tip is to put slow-moving items and other seasonal products under the 'staff picks’ section to increase their appeal.
You can also encourage shoppers to buy these seasonal products by offering special New Year's loyalty points on their purchases. These points can then be used throughout the year to get discounts on other items. Consider marketing your slow-moving products as the ‘season’s best-selling items’ with a 3-day flash sale promo.
House of Flags can help boost your seasonal sales by increasing its visual impact with strategically placed sale flags. We also provide high-quality bunting, feather flags and hanging sale banners that are perfect retail marketing tools.
2. Bundle Products to Maximise Purchases
Bundling products together has always been an effective clearance sales strategy. Not only will you enhance your slow-moving product’s perceived value, but you’ll also increase the chance of selling them profitably when bundling them with complementary products.
For example, say you want to sell a slow-moving item like a cooker. You could combine that with oven gloves, a recipe book and a 3-piece utensil set. You could highlight bundles like these with mystery deals and vouchers to further incentivise and boost your New Year’s sales.
3. Implement Flash Sales and Limited-Time Offers
Flash sales and limited-time offers create a sense of urgency in shoppers, reducing the time they spend on decision-making regarding the potential purchase of a product. As a retailer, crafting an effective flash sale strategy for your clearance sale involves marketing your dead stock with attractive discounts.
It’s also the fastest way to get rid of inventory and make space for fresh stock. Adding a ‘low stock alert’ or ‘Hurry, offer valid until stock lasts’ can quickly boost your New Year clearance sale!
4. Use Targeted Marketing Campaigns to Reach Ideal Customers
Targeted marketing campaigns are a great way to highlight dead stock and increase sales. You can create a great sense of urgency by using stronger, more urgently worded ‘calls-to-action’ like ‘Save an extra 24% on clearance items for 24 hours’.
On the other hand, targeted ad campaigns on social media platforms can work wonders for your sales. Present these ads with enticing visuals, and make sure you highlight your unique New Year clearance sale offerings.
5. Leverage Your Shop Layout
Your website and shopfront can benefit from a refreshed layout to encourage clearance sales. A themed shopping section, for example, with strategically placed ‘Limited stock’ sale banners or user-friendly signage of your best-curated deals at the shopfront creates an impactful clearance sale.
Likewise, you could use themed graphics for your shopfront by placing custom signage, flags, bespoke banners and themed pop-ups to increase the visual appeal of your store during New Year clearance sales.
Choose House of Flags to Improve Your New Year Marketing Strategy!
Clearance sales can give your inventory a new lease of life, and there’s no better time than the end of the year. However, to make the most of the new year, it’s crucial to follow the right marketing strategies.
If you’re ready to be out with the old and in with the new, we’ve got you covered. At House of Flags, our bespoke marketing materials can boost your retail sales experience and help you design a successful clearance sale campaign.
From custom product banners to a wide variety of creative displays and signage, we have everything you need and more.
Order our exceptional marketing products online or get in touch with one of our in-house experts to choose the right ones for you.
