Everyone knows consumers love promotions during the holidays! During the holidays, when people have lots of gifts to budget for, everyone is on the lookout for a deal. Make sure you’re being as competitive in the marketplace as you can by advertising your products in an effective way. Things like consumer financing and effective customer services can drive big revenue for you. Learn how to implement the top three retail promotions in your business today.
Buy now, pay later
When customers know they can buy now and pay later they feel more inclined to purchase more today. When you’re business partners with Financing Your Way, consumer financing is made easy. You take on no risk. The consumer is notified of approval immediately after application and you receive funding for the purchase within 3 business days of the transactions. If the customer defaults, your business loses nothing. The buy now, pay later promotion is ideal for businesses with higher ticket items.
20% OFF when you apply for in-store financing
Offering a discount to motivate your clients to apply your in-store financing is a top promotional strategy. It is not uncommon for customers to reject the application at first introduction, but when they learn the merchandise they desire is discounted in exchange for their application, approvals and sales increase for your business. Financing Your Way works to train your staff so that they are knowledgeable about your in-store financing option and able to close the deal and increase your revenue.
50% OFF Old inventory
Another top year-end promotion is 50% off of old inventory. Yes, that correct, deep discount on the inventory that is just taking up space in your retail store. This merchandise should be clearly marked as clearance and placed near the back of your store. During the holiday season, many clients will be drawn to your store to explore your clearance rack, but will also find regular priced items they want as well. Selling old inventory at 50% is a great way to increase your liquid capital so you can invest in your top-selling products.
For more information about how to implement the consumer financing and in-store financing options in your business contact Financing Your Way today!