Here we go, then. Fashion’s annual binge, the summer sales. You’re going to sell more, to more people, faster than ever before. LET’S HAVE IT.
Obviously, though, there’ll be discounting. Something we don't usually like doing. And some of your customers will be deal-hunters, who probably won’t come back once the sales are over. But who cares? BRING IT ON.
And then the summer hangover will kick in. When the tumbleweed blows down those new collection aisles and the website stats tail off.
So, how do you avoid that post-sales hangover? You’ve already upped your game compared to the rest of retail. You hold special preview weeks for your best customers to add a sense of occasion (let’s see an electronics retailer try that!); you steadily mark-down throughout the duration of your sale to maximise margins and manage stock; you trickle-release new items into your sales to maintain momentum and ensure repeat purchase. You do sales better than anyone. But at the end of it all? Your head still throbs and your heart still sinks.
There is one way, though. It’s all about extracting more value from your customers, taking something back