Tis’ the Holiday season which is the time for Family, Friends, and deeply discounted items from retailers trying to get you to purchase from their store. The two big days you will hear about incessantly over the next few weeks is Black Friday (the day after Thanksgiving) and Cyber Monday (the Monday after the Thanksgiving weekend).
We all know what Black Friday is, but the Cyber Monday has evolved over the past 10 years as a time when people get back to work after the Holidays and start searching for deals on their office computer. While Cyber Monday really does happen, I believe the specific day is already outdated because consumers are ALWAYS looking for better deals online, as well as deeply discounted items they can snatch up before some else does.
So I had an idea which I tested last week with great success, to make every Monday in the Holiday Season a Cyber Monday. Whether you consider it to be true or not, you are a retailer of items which you can discount and be timely and current while doing it.
In the scenario we did last week, a market had 72 items which were not moving very quickly and not making them any revenue. So we created a Cyber Monday Deal and reduced the price for one day only, and made sure we highlighted the immediacy of it. The result…sold 72 certificates in hours and made $1000 in revenue. Needless to say they are continuing to do it every Monday going forward.
So look at your inventory and see what deal with inventory makes sense to do this Cyber Monday program. It’s a great way to make some quick revenue and be in the Holiday spirit of retail, as well as avoiding saying “Clearance” of items which some are reluctant to do.
If you would like more information, please contact Chris at chris@neofill.com.
