Whew, you did it! You made it through the holidays.
You spent long hours and many busy days making sure all of your customers were beautiful and stress-free. Additionally, you sold lots of gift certificates and ALMOST your entire holiday retail inventory.
As you survey the retail shelves, you realize that you’ve got some left over gift sets, special products and some special holiday items left over. Inevitably, your first thought is, “Mark those down to 50% off”. Maybe you’ll sell a few of them, but I have a few prize-winning suggestions that will make sure you move those items and clear your shelves. Enjoy!
1. Gift with Service Package
You’ll have many new customers coming through your doors using their gift cards and certificates. Convert those customers into repeat customers by selling packages of services to them. Group your most popular services into 3, 5 or 10. Offer your customers a progressively larger discount as the number of services increase. As a special January bonus, offer a “Gift with Purchase” and use some of the left over inventory as the bonus.
2. Purchase with Purchase
Categorize your left over inventory by vendor. Then, select your best selling items by every vendor. Create an offer and sell your left over inventory at special price point when your customers purchase your best selling items by that vendor.
3. Product Of The Month Feature
If you’ve got a large amount of a special item, make that product the “Product of the Month”. Then create a featured area at your front desk with a sign, offer a special discount on the “Product of the Month”. You can also create a “Vendor of the Month” and offer a stacked discount on selected products. I love a stacked discount when trying to clear the shelves. For example, buy 2 products save 15%; buy 3 products save 25%.
4. Product + Service Package
Create a monthly service that includes the left over product. Combine the price point of both and offer it to your clients. You can add an exfoliating cream with a facial or hand cream with a manicure.
5. Donate It
There are many women’s organizations and food banks that accept beauty products to help local women in need. They would happily accept donations and it’s the end of the year, so it will be a great way to get a tax deduction.
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