It's holiday season and that means that as a retailer you've got your eyes on the money. That's no surprise given that the three months leading up to December 25 generate almost $1 trillion or roughly 6 percent of the entire U.S. economy.
But how do you entice people to buy more from your store? What do you do when you want customers to make purchases more frequently, or in greater volume, or if you're looking to boost business during slow hours and more?
Whatever your goal may be, by creating a time-sensitive sales promotion and having a good grasp on your target customer demographic, you'll be able to incentivize the right actions, get them to respond, and grow your business in the process.
In this post, we'll look at three retail sales promotion techniques that are worth their weight in gold when implemented effectively. They are:
- Promotional pricing
- Point-of-purchase displays
- Loyalty programs
So, the next time you're stuck as to how you can increase sales, get new customers, or retain existing ones, you'll have no trouble turning to the perfect promotion strategy for your goal.
Let's get started.
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