Labor Day. Columbus Day. Halloween. There’s no shortage of holidays during the fall that attract shoppers with the promise of discounted wares and seasonal exclusives.
Thanksgiving and Christmas may get all the headlines, but don’t sleep on the opportunity afforded by the fall season to generate strong revenue streams.
Capitalizing on fall sale weekends not only bolsters your bottom line, but it also reduces the pressure for when the holidays roll around. Brands must find a way to stand out from the crowd by positioning and merchandising their products effectively.
Revenue opportunity in back-to-school season
Fall is sometimes viewed as a lull in retail activity before shoppers storm stores in November and December. But the fall season is chock-full of revenue opportunities for brands that know how to make the most of them.
It should come as no surprise that clothing and school supplies are among the most popular purchases to make during the early days of fall. Despite the fact that many students in the United States are already back in class, back-to-school shopping activity is still going strong.
A National Retail Federation survey, which was conducted during the first two weeks of August 2018, revealed that only 16 percent of respondents had completed their back-to-school shopping. Approximately 56 percent either hadn’t started yet or were less than halfway done shopping for school supplies, clothing, and other student needs for the new school year.
“If students aren’t in class already, they will be soon, but that doesn’t necessarily mean they’ve finished buying their supplies or new clothes,” said NRF President and CEO Matthew Shay. “There’s still more shopping to do, and regardless of timing, the economy is healthy and shoppers are confident and willing to spend.”
Bringing untapped revenue to light
An August 2017 WalletHub survey revealed that 57 percent of Americans planned on making a Labor Day-related purchase that holiday weekend. On average, Labor Day weekend shoppers were expected to spend $58 per person.
Clothing was the most cited planned Labor Day purchase, with 43 percent of respondents stating that they intended to buy apparel over the holiday weekend. Rounding out the top three were school supplies (22 percent) and electronics (12 percent).
Add in Columbus Day and Halloween in October, and companies have many opportunities to make revenue this fall. Before brands set their sights on the holiday shopping season, they should tap into current consumer interest by taking advantage of fall sales and shopping trends.
Stand out with strong merchandising practices
With so many brands holding Labor Day and Columbus Day sales, along with back-to-school and Halloween promotions, standing out from the crowd presents a major challenge. This is where best-in-class merchandising comes into play, helping brands design displays with the best chance to grab the attention of shoppers.
Effective planogramming can go a long way to placing best-sellers and seasonal wares in the most heavily trafficked areas of retail stores. In-store conditions can change in a flash, so it’s important that brands have access to real-time data regarding their retail displays. Mobile execution management software gives field teams the tools needed to keep up-to-date tabs on every retailer in their region and ensure that stores properly showcase their best and most sought-after products. It’s a sure-fire formula for taking advantage of fall sale weekends and maximizing sales.