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Year-End Sales – 9 quick hacks to spike your profits

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ear-end sales are the most awaited and hyped shopping events. Many people wait for these sales to buy products and gifts they can’t afford otherwise. Brands on the other hand, make huge profits and are able to clear out large parts of their inventories. 

To make sure your brand benefits from year-end opportunities, we are here with 9 hacks that are simple, up to date with the latest trends, and are proven to be highly effective. 

9 Hacks For Year-End Sales

Below are 9 tips that can be very helpful for you to generate handsome profits from year-end sales. 

  1. Forecast sales
  2. Buy wanted items in bulk
  3. Optimize campaigns
  4. Work on your website
  5. Set themes
  6. Reach out to the local community
  7. Free shipping and tax exemptions 
  8. Bundle offers
  9. Use Flash Sales

Now let’s get into their details 

  1. Forecast sales

Planning for the future seems like a far-fetched idea but in today’s age, it is used by many businesses and marketers to understand the scope of different sales. With the right forecasting tools, you can predict customer needs and behavior in upcoming sales. 

Make sure to analyze past data, what customers bought the most last year, and which products didn’t sell much. You can use inventory management software that lets you predict future inventory needs. It helps you in keeping the right amount of inventory so you don’t run out of it or go overboard with it during sale seasons. 

Forecasting will help you meet customer needs and will avoid order delays due to low inventory. It also helps prevent you from buying too much that you can’t possibly sell. 

  1. Buy wanted items in bulk

When customers buy in bulk they save money by buying more items. The same can be done for your inventory. By purchasing products in bulk, you can save money that can favor huge discounts to customers. You can’t offer low prices if it affects your profit margins, therefore saving the inventory cost is the first step towards a successful year-end sale. 

As you are buying products, make sure to use forecasting tools to buy products that will be in high demand during sale seasons. 

  1. Optimize campaigns 

Running successful campaigns on social media requires efficient use of social media marketing strategies. One of them is Search Engine Optimization (SEO) which allows you to rank higher on search engines so your brand is the top result for customer searches. 

For a successful year-end sale. You should search for keywords people search for during these sales and optimize your campaigns for those keywords. The keywords would depend on your brand and its target audience so make sure to be specific in order to rank higher. 

  1. Work on your Website 

Your website is a portal that helps you interact with customers. It is a place where the customer gets to know you and based on your site performance, he buys your products. To make sure he can easily find what he wants and can see the amazing deals you have in-store, you need to work on your website. 

Use popups and CTAs (call to action) to show deals to customers and optimize product descriptions to suit the year-end vibe. 

  1. Set themes

Year-end sales are a very popular means of generating profits and so your competitors are probably already using them. To make sure you stand out and capture customer attention, you should go with a theme that resonates with the consumers. 

Christmas, new years and many other year-end sales all come with a purpose. This time of year is for festivity. Therefore making sure you have themes for your local community that they can relate to can be a great option. 

You can set family, cultural or festive themes to attract buyers who are looking for traditional and family-oriented items. E.g you can add a family theme to your site and mention family packages like gifts, cutlery sets for family gatherings, board games for friends and families etc. 

  1. Reach out to the local community

Your local community is a profitable asset you shouldn’t ignore. To get their attention, you should participate in local events and charity so people feel guilty about buying from someone else. Sponsor events in your local community and let charities use your land. That way, you will gain customer trust and a strong brand reputation. 

The loyal customer base will help you get more profits during year-end sales and also throughout the year. 

  1. Free shipping and tax exemptions

Free shipping and tax exemptions can help you reward your customers and your brand. If you offer free shipping to customers, many customers will save money and hence will be inclined towards the sale. Also, consumers, who usually pay more shipping costs due to their remote location will save money and thus will take the free shipping as a golden opportunity.  

According to a ComScore study, 58% of customers buy more items just to get free shipping. So if you offer it to them, they will not miss the chance! Tax exemptions are also great ways to promote your products. 

For tax exemptions, we suggest you use the Prestashop tax exempt module which lets you tax-exempt certain clients. You can exempt certain customers or customer groups from taxes so they don’t need to add tax info, saving their time and of course, money. 

  1. Bundle sales

During year-end sales like Christmas, people are generally looking for gift items for their friends and family. Many also consider home decoration and renovation due to low prices, thus offering products in bundles and offering discounts can be a great idea. 

Depending on your brand, you can offer sets that people would want to buy together. E.g If you own a clothing brand then offering clothes that go together or in the case of makeup offering skincare essential sets, can help people in making the decision. 

If customers know that bundled products bought separately will be much costlier, they will find the offer more valuable. 

  1. Use Flash Sales

The “fear of missing out”, FOMO is a great marketing strategy. When you make a customer think that they are losing out on a deal and if they don’t act immediately they will miss a great offer, that can help you drive sales and make great profits. 

Flash Sales are a great way to induce FOMO into people. You can use a few campaigns instead of a long sale so people act fast. Using phrases like ”Only 2 items left”, “sale ends in 24 hours”, “Just 2 days left before sale ends” etc. Can greatly help you get customer attention and create urgency to maximize sales. 

According to Monetate, the email click-to-open rate for flash sales was higher as reported by 56% of businesses. That means people respond more to such sales and are more curious to know about them. 

Conclusion

In this article, we went through 9 tips that can help you make huge profits during the year-end sale season. The first thing is to work on forecasting sales so you know how much inventory you will need and which products will be high in demand. 

Then you should work on your marketing campaigns and website optimization so the word spreads quickly and customers get to know your products and offers in detail. For your products, set relevant themes suited to the year-end sales and reach out to your local audience and community to create a loyal fan base for your brand. 

For deals, you can use flash sales, bundle offers, free shipping, and tax exemptions to convince customers about huge savings on their part.

Kim Parson
Kim Parson
Kim Parson works at Addify as the Outreach Manager.
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