For some businesses the summer months can mean a downturn in revenue. Their regular customers are taking their holidays abroad or are out of their usual routine, so will not be frequenting their store or website as much as they normally would.
With life slowly getting back to normal following the Covid 19 lockdown, it is more crucial than ever before that stores are able to maximise their sales during the summer months, in order to get them back on track as soon as possible. We have put together some simple tips that could help to make a significant difference to your profits this summer.
How to maximise profits in the summer
- Conduct some research into which products sell particularly well in the warmer months and see if you can incorporate them into your store on a temporary basis, or even keep them all year around.
- Are you able to target tourists? This will work exceptionally well if you are based near the beach or close to hotels that are popular with holidaymakers. Consider running some promotions that are aimed towards their needs.
- If your business provides a service that is in demand during the summer, be sure to advertise as widely as possible. Gardening and child care services for example, will have numerous rivals in your local area and you want to be the most visible. Try handing out leaflets or putting up posters in a Wall Mounting Snap Poster Frame.
- Try not to cut prices, instead use promotions that will make customers think they are getting extra. Call them something light and fun, such as ‘summer specials’.
- Take your business outdoors, taking a stall to markets, craft fairs and local events or incorporate outdoor dining if the business is food or drink related. A Printed Promotional Parasol will help to shade your stall from the sun.
- Focus on using social media to help you advertise your summer opening hours, as well as any special promotions or events. Target your customers and encourage them to join in, such as asking them to post their favourite summer photos on your page.
- Launch something new and exciting during the summer, making sure it’s advertised in as many places as possible.
- If you are predicting a busy summer period, be sure to hire extra staff. You need to prevent customers from leaving your store because it’s taking too long to be served.
If you decide to close for the summer
- In some cases, an owner may decide that this time of year is perfect for closing down in order to redecorate the premises or take holidays of their own. In this sense it can seem cost effective, as you are then well prepared for the rest of the year.
- Work on your autumn and winter plan, ordering stock and evaluating costs. You will then have a head start on the competition.
- Focus on finding and confirming new corporate clients while you have the time to schmooze them!
- Don’t lose touch with your customers during the summer, especially if you are closing for the season. Keeping your social media updated will act as a reminder that you will still be there when they return from holiday.
- Use this time for re-evaluating your business as a whole, to see where you can make improvements for the future.
Generally people are happier and more relaxed during the summer, meaning they will be more willing to spend money in your store if you are offering something that will draw them in. Think about targeting the tourist trade and families who have children on summer holidays, with products such as toys and sweets as an incentive. Be prepared to open for longer hours if required to capture those customers, as this will help to boost sales and make up for any shortfall that you may have in the winter months.