Pretty much every holiday, big or small, is an opportunity for your business to run a sale—if you want to. And that includes the New Years.
The period between Christmas and the kick off for the New Year is a great opportunity to pull in a little extra money and get rid of items that you’re interested in replacing in 2021.
I happen to love sales for small businesses, but I know not everyone sees it the same way. The following is based on my personal experience, so you’ll need to decide what works best for you and your business.
Why Should a Business Have a Sale in General?
Running a sale is important to businesses, whether they’re seasoned or brand new. There are some theories that putting your products or services on sale is bad for business—but unless you have a super-powerful brand, chances are you can’t get away with it.
Sales are a great way for businesses to:
- Get people to test out their products
- Build trust with their customer base
- Clear out excess or old and discontinued products
- To boost revenue
This year has been a rough one for a lot of small businesses, so having a sale to end your year on a higher note could be a great idea.
Sales can bring in additional revenue, and if your product delivers you could get yourself some brand new, regular customers. I’m of the opinion that sales are good for business, customers expect them and they’re more likely to actually make a purchase.
So, Should You Have a New Years Sale?
A boxing week and/or new year sale usually runs from the day after Christmas to a few days after the new year. Truthfully, Boxing Day sales are more common in my home country of Canada, but that doesn’t mean there isn’t a place for them in your business.
It’s most likely that this year you’d want to run an after Christmas and New Years’ sale somewhere around December 26 and January 3. Which, if you’ve got good marketing and can draw in customers can help you both end and start your year strong.
What Should I Put On Sale?
Sales are business dependent. What goes on sale and for how much higher depends on the outcome you’re looking for.
Are you hoping to get rid of a bunch of products that are being discontinued? Do you have a brand new product that you’d like to see get off on the right foot? Or maybe you want to put a smaller sale on everything in your shop!
When you’re planning your sale, you want to make sure that it’s not costing you. So don’t put products on prices that you’ll have to recover elsewhere. This is the case for all businesses, but if you’re trying to boost your profit you need to be extra careful about ensuring that prices aren’t too low.
It would also help to set up some kind of “you might also like” section to help upsell your products.
Do you run a New Years or after Christmas sale? Share your tips and tricks below!
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Tae started out as a journalist before following the money into the corporate world. But it turns out that the grass isn’t always greener and now you can find her spending most of her time writing about all the things she loves. Namely, money, travel and business with a hefty dose of self-deprecating humor. She is a podcast fanatic, blogging aficionado and loves to find new ways to turn passions into cold hard cash!
