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The Dreaded Decline of Sales in January – January is when many people cut back on their spending. This may be a good thing for those saving money but it’s often a poor month for many businesses.

We all know the January sales will be heavily advertised after Christmas, and for good reason. They are a great marketing tactic for both businesses and customers. It gives customers the chance to spend their Christmas money or stock up on gift sets and presents they can use come next Christmas or upcoming birthdays etc. It also gives businesses the opportunity to clear out any excess Christmas stock.

Due to the huge increase in online shopping, ‘bricks and mortar’ stores aren’t attracting the customers they used to, so lets take a look at how those businesses could help remain profitable.

Budgeting

Look at areas that you can cut back on the spending. While increasing sales is difficult, sometimes cutting back costs is the only option. This will provide your business with a bit of extra money that can either be spent in other areas or simply saved. Understandably, you will have a tighter budget in January so also focus on things you can do to help your business increase it’s sales, but don’t cost you a lot to do. Look at social media marketing for example, this is a great way to advertise your business for free, or very low cost. Get the word out about your company and any offers you have to attract as many customers as possible.

Fail To Plan, And You Plan To Fail

It’s always good to have a plan in business, in fact it’s essential. Take a look at the previous years sales and compare them to where you would like to be this year. Think about the different marketing techniques used and any offers or promotions that helped to boost sales. By looking back on the positives and negatives of last year, you can gain an idea of how to get sales back on track.

What were your goals at the start of last year? Where would you like to be this time next year? How far away are you from achieving your goals? What do you need to do to reach them?

Ask yourself these questions. This will make it easier for you to set up a plan to ensure your business is thriving.

Don’t Let Returns Get You Down

Returns are expected at this time of year, not everyone loves all of their presents. You always run the risk of buying something that they either already have or buying items that are too big or small. Instead of giving money back, try to offer an change of item. This will keep you your money and hopefully, have a happy customer.

Remember that not everything is down-hill in January as some people will be spending their Christmas money or gift vouchers in your store.

Use Add-Ons to Your Advantage

If you have a physical shop, try to place cheap and impulsive buys at the front of the store or on the counter. This will encourage people to spend an extra £3 for example. So, if you have 30 customers in your store all spend an extra £3 then you would have made an extra £90, just by asking if they would like to purchase something extra while they are at check-out.

If you only have an online store, create a banner for the top of the website, informing website visitors that you have smaller items that may be necessary to them.

Add Some Chocolates/Sweets at Check-Out

It’s always a nice idea for customers to feel as though they are getting something extra for shopping with you. It’s also a good way of promoting word-of-mouth marketing, as people tend to remember the small, nice things that are done for them.

We hope that this blog ( Decline of Sales in January)  has helped and given you a few ideas to get through the January period.

If we can help your digital marketing needs in anyway, please contact us today.