Seasonal sales have been around nearly as long as the seasons themselves, and just about every retailer has at some point offer a sale for their customers (with Apple being a notable exception). However, the key to a successful promotion like this is knowing when, how long and how often to have them.
Certain merchants have gained a reputation for having what appears to be a permanent sale. SCS is one example of a store in the UK who constantly run TV adverts to promote sales which seem never ending, to the point where it as almost become a running joke. The fact is that if your products are always listed at a lower price, the surely the lower price is the actual price and not a discounted one.
Of course the growing popularity of Black Friday, an import from the USA, has given birth to retailers of all kinds slashing their prices for one day in November, causing chaos on the high street. Likewise Cyber Monday has frequently caused websites to crash under the strain of people trying to get hold of those amazing deals.
It’s true that many merchants will experience losses on these two days and write them off as loss leaders in the hope that customers will return throughout the year. A risky strategy, but one that has paid of for many. Other than the festive period, January is a popular time for discounts, which some stores seeing higher sales in the month than they do in December or November.
Summer sales have also become a common sight, and whether through voucher codes or standard discounts, retailers do seem keep on attracting customers this way, whatever the cost.
The key to deciding on when to hold your sale is to consider the market that you are in. Getting rid of unwanted stock by lowering prices is all good and well, but if you hold onto it a little longer, is it likely to fetch at better price at another time of year? Many companies have sprung up that actually specialise in buying unwanted stock such as ukstocksupplies.com
Also, be careful not to underestimate the customers intelligence. People are extra savvy these days and if your items are always on sale, they will soon learn not to trust you.