Optimize Your Holiday Contingency Planning
As Holiday promotions go live and the busiest shopping season of the year gets underway, many retailers are challenged by unpredictable consumer demands, aggressive competitor promotions, and varying success of their own planned promotions. Planning a flexible contingency signage program to supplement Holiday marketing can serve a variety of valuable purposes, including:
- Capitalizing on successful sales of specific products/categories
- Eliminating slow-moving inventory
- Pushing overstocked inventory
- Keeping store environments fresh and engaging for shoppers
- Extending promotions
Whatever the goals for your supplemental signage program, consider these key tips to optimize your contingency planning.
PAY ATTENTION TO INVENTORY LEVELS
Which products are flying off the shelves? Which products aren’t quite as popular? Keeping a sharp eye on product inventory levels will help you determine next steps for planning supplementary promotions that will maximize sales efforts. Maybe there is a hot-ticket item that is selling surprisingly well; strategically placed signage can draw attention and direct shopper traffic to that part of the store to entice further purchases. After surveying your stores, perhaps you find a promotion hasn’t been as successful as expected. Extending the promotion with signage that uses language such as “Last Chance” or “Extended One Day Only” can help create urgency, encouraging shoppers to purchase before they miss out on a great deal.
PLAN AROUND PRIME SHOPPING DATES
Black Friday is a given, but each calendar weekend (and even weekdays) between Thanksgiving and Christmas provides a prime opportunity for special Holiday promotions. Don’t let these popular shopping days go to waste!
EXPECT THE UNEXPECTED
Market forecasts can only confidently predict shopper activity to a certain point, and there will inevitably be unforeseen results and circumstances you didn’t or couldn’t plan for. This doesn’t need to be anxiety-inducing; prepare the best you can by setting aside a portion of your overall budget for contingency, and stay diligent for opportunities. Being flexible with your marketing plan allows you to mitigate challenges and take advantage of opportunities as they come.
The pace of retail goes into overdrive during the holidays, with shopping conditions changing daily. Ensuing contingency campaigns tend to be rushed and last minute. While the best providers are well-versed in holiday urgency, keep in mind that the sooner you make decisions and get a plan in place, the sooner your promotion can get into your stores!
Move more merchandise this holiday season! Imagine! has the experience and the horsepower to get your quick-turn projects produced, packed, and delivered in just 48 hours. Contact us to get started today!