Here come the discounts!
I received two emails over the weekend from major retailers (well, they were from friends actually who received them from major retailers). It’s friends and family time already folks, and that means extra savings for lucky recipients.
It seems 20-30% off is the going rate and these two retailers are looking to goose sales from last weekend through early November.
That makes sense given we’re in the retailing doldrums (barring Halloween, October through the first couple of weeks of November tend to be slower time periods for retailing).
So drive some traffic to your stores through a carefully planned and distributed discount.
THE REAL WORLD RETAILING TAKEAWAY
Friends and family discounts are a great way to bring in the business.
These types of discounts can get out of control because they’re typically emailed, and you can forward them to whomever you want. That said, they are a great way to offer a deal to customers, and you can keep the deal to a select few if you want or need to.
A few “do’s” for friends and family deals:
1. Don’t give away the farm – a 15% discount is fine and can move people to make the visit and shop. After all, 15% is 15%. I wouldn’t advise going any higher than 20%.
2. Keep the time frame short – a coupon that lasts any longer than two weeks is going to get lost, forgotten about and go unused. Make sure you’re driving traffic now, not two months from now.
3. Manage the response to your liking – you don’t have to create an email that can go viral. You can do a postcard or even an invitation that you mail to your best customers. That way, it seems like something very special and your best customers will appreciate receiving it.
Friends and family discounts are a great way to push sales during a non-busy time period. Get out there and make one happen for your business.