How does hot weather affect sales
We are now well into the summer and at Payzone we couldn’t be happier. After a bitterly cold winter,
The summer can be a tricky time. Schools are out, people go away and things are generally much quieter (Christmas is still a while away). This is why it's worth considering doing some kind of summer sales. Many businesses dread this thought, especially as it means reducing prices, not to mention it can alter cash flow. But, far from being a hindrance, running summer sales can actually help you in this period.
It’s also a great time for your business to show creativity and take advantage of the outdoors - after all it’s better to be outside when it’s warm.
We wouldn’t assume everyone has social media, but strongly recommend you do as it can be a handy tool for engaging with your customers. People are more relaxed in the summer, so why not use this time to be quirky. If you have sales, this is a perfect way to get people flocking to your store. Why not offer free samples of your product (great if you are a bakery or cake shop) and then once you have people in front of you, tell them you are having a sales season on 'x' number of items. Social media is a great way to entice people to come to you, and once they like what you offer, the chances of them buying from you will only increase. By being creative with social media, your summer sales have the potential to attract new customers who will come back to you.
Every business will have stock that doesn’t sell. This is why summer sales can be beneficial because it gives you an opportunity to shift products which haven’t resonated yet. A summer sale gives you a better chance of actually making some good money by selling less popular items for a reduced amount. You will stand a better chance of selling more of the less popular items, for let’s say, half the price than you would for higher. And it could be a great opportunity to introduce this product to the public and demonstrate the value it offers. If customers see value, they will be enticed.
One thing that many small businesses have started to do in recent years is set up pop-ups as a way to promote products that are on sale - and also showcase new items. These are very much the ‘in’ thing at the moment but they are actually very useful: firstly, it’s cost effective and will ensure that you don’t need to take out a long term lease on a property - you can have it as long as you need to, which could be for your entire summer sales season. And pop-ups generally do well, especially if it's positioned in a part of your town or city which is popular. While online is becoming people’s go to medium for essentials, pop-ups can liven the senses - giving you a great opportunity to shift reduced stock.
A pop-up store might not be for everyone. No matter, because summer still gives you the opportunity to set up shop outside. This is a lot more common than you might realise. For instance, it’s very common for restaurants to set up stalls outside their restaurant. They might then sell one item, the idea being you would then come back and eat from the main restaurant. Try and find out if there is a local market for small businesses near you and get yourself involved. Then bring the items that are on sale as these cheap prices will be what tempts people. Speak to the public, see what they are like and be curious about what they are looking for. This is a great way to gain awareness of your business in a very clear way.
The idea of a sale may not necessarily be seen as a good thing. They can often be perceived as being a bit cheap and tacky - especially if the item offers no use. So why not have items which people will actually want. For instance, your business might sell things which are summer friendly. For most of the year, you find it hard to shift deck chairs, beach balls and paddling pools. Well guess what: people will probably buy these kind of things in the summer months. You know that beyond summer it will be tricky to shift these items, so why not sell them now. Pricing them cheaper than usual will give you a better chance of selling seasonal stock.