The start of a new year brings a sense of a new start. Resolutions, plans for the future and a chance to look back at what the last 12 months has brought you. It’s the perfect time to have a good clean up of your online store, spruce up your shop banner, dust the virtual shelves and get working on those new ideas that have been mulling around your head for the past few weeks. These are Folksy’s top tips for getting your shop ready for the January sales…
Make the sales work for you
January sales can act as a great promotional tool for you and your work. But you don’t want to be left out of pocket at the end. Think carefully about your stock and whether you want to select specific items or you fancy a good old “20% off everything” affair. A shop-wide sale can create a great amount of excitement and traffic to your shop, but work your numbers carefully and don’t sell for less than you can afford.
How much is too much?
Was there one particular item that just didn’t work well for you this year? If so, it’s time to get that tricky product off the shelf and into people’s shopping baskets! If you want to break even, then don’t offer the item for less than it cost you to make it. If you just want to shift the stock, then go crazy and offer it at a price that’s too good to miss. The January sales are a perfect time to gain back some of the cash you spent out on making, so don’t hold on to old stock. Look at why it didn’t sell, learn from that, sell it off and move on to those fresh new ideas you have.
Promote, promote, promote.
Your January sale is going to do very little for you if people don’t know it’s happening. Promoting the event will get people talking about your great offers and drive traffic during this often slow period.
• Add the word SALE to your item description so it appears in searches for sale items
• Create a Sale Collection in your Folksy shop so discounted items are easy to find
• Use social media to tell people about your sale. Grab people’s interest by mentioning the “unmissable” price cut
• Get customers buying today by adding a “Sale Ends” date to your item description and social media posts
• Look out for Sale Gift Guides and request that your item be added
We asked Kim Lawler from Folksy shop Finest Imaginary to share her tips on running a sale in your online shop…
1. Use your January sales to bring new customers and followers to your business. Make sure you give them a great customer service experience so that they buy from you again, and refer their friends.
2. January sales are the perfect time to take stock of what items are working well in your line. With your Christmas sales figures to hand, you can soon work out which of your items are selling better than others, and streamline your designs for the year ahead. If you’re thinking of discontinuing certain designs, now’s the best time to get rid of the surplus stock.
3. Use your January sale to up-sell your full-priced items. Say, for instance, you’ve reduced the price on a pair of earrings, but kept the matching necklace at the full retail price, make sure you actively promote the necklace alongside the earrings.
4. Always choose a range of price points to reduce, and a range of different reductions. For instance, you might be fine reducing an easy-to-make necklace by 50%, but would really resent reducing a more complex piece by the same amount.
5. While you’re basking in the glow of your fantastic Christmas sales, don’t be lulled into a false sense of security and start selling things off at below cost value (ps. cost includes your time!). Always make a profit. You’re running a business, after all.
6. Be sure to promote your January Sale across all forms of social media. There’re plenty of bloggers out there who love to do January sale round-ups on their blogs, send them an email & let them know about yours!