Drive In-Store Holiday Traffic with These Retailer-Tested Promotions
This blog post is part of Bravo’s 90 Days of Retail Marketing Guide. To see more content like this and to follow along on our calendar, visit our 90 Days of Retail webpage.
The holidays are right around the corner, and brick-and-mortar retailers need to get creative if they want to boost in-store holiday sales and traffic this season. With the rise of e-commerce, consumers have endless shopping options at their fingertips. But developing in-person relationships remains critical for increasing revenue and layaway/loan balances.
We asked Steve Mack, Bravo's founder and former CEO, to share holiday sales promotions that worked when he ran a 50-store chain. Here are 4 in-store strategies he recommended:
1. Gift Card Promotions with Minimum Purchase
This holiday season, offer an in-store gift card or discount when customers spend a minimum amount online or in your brick-and-mortar store. For example, "Spend $200, get a $20 gift card." This holiday gift card promotion encourages bigger purchases and brings customers in-store to redeem cards.
2. Thank You Discounts for Top Customers
Show appreciation to your highest spending loyalty program members with a holiday gift card. Bravo's reporting features easily identify your VIP customers. "Customers love recognition," said Mack. "Giving $100 often led to $3,000 in return holiday sales."
3. Exclusive VIP Holiday Shopping Events
Send your favorite loyalty customers an exclusive invite to a special holiday shopping event. Provide perks like discounts, free food/drinks, auctions and a fun theme. Peer pressure can drive limited-time holiday deals.
4. Holiday Loan Guarantees and Trade-In Promos
Remind customers they can exchange purchases for guaranteed loan percentages around the holidays. Holiday trade-ins bring people back in-store and build relationships. "It ensures they return to you, not competitors," Mack advised.
Make it a Happy Holiday Season for You and Your Customers!
We hope you'll try these in-store holiday promotions and share your results with us! Need some help getting it done? Connect with sales for help managing inventory, tracking spending and promotions. From all of us at Bravo, happy holiday retailing!
About the Author:
Tally Mack is a fifth-generation pawnbroker and eCommerce enthusiast. She loves traveling, being outside, and working out.
Before taking the reins as CEO, Tally served as Bravo's Vice President of Business Development, leading the company's sales and marketing organization. She's been instrumental in leading and executing many of the company's strategic shifts, including the acquisition of CompuPawn and the launch of UsedGuns.com.
Tally earned her Doctorate of Law (J.D.) from DePaul University College of Law in 2013 after attending the University of Colorado at Boulder, where she earned her B.A. in Communication Studies. She also completed the Key Executives Program from Harvard Business School in 2013.
Tally is a pawnshop lov