They’ve been advertised in many different forms this week through the utilization of many different venues. Newspaper, online, emails, billboards and more. The annual “day after sale” for many of the areas clothing stores.
Astounding Numbers
The allure of bargains is not the only reason for the dramatic increase in shoppers every year the week after Christmas. Many consumers have time off from work. The day after Christmas is historically the third biggest shopping day of the year as many people hurriedly return gifts that they receive the day before. This year it was a Monday, and it was reported that there was a staggering $4billion worth of gifts returned. Nevertheless, the abundance of sales are in fact the primary reason for the deluge of bargain hunters flooding the department store aisles and local boutiques.
Conversely, I spoke with a friend today who works at a car dealership. She said that it’s been relatively slow this week. The dealership is not having a sale’s event.
A Lesson For Homeowners
Perhaps the strategy implemented by retailers is one that realtors can use as an illustration for their clients whose homes are in need of a price reduction. If buyer traffic has dramatically slowed down, the motivated seller typically becomes frustrated. They look to you for solutions. If you speak to them strictly about various marketing techniques that you are prepared to employ, you will end up disappointing them. A more frank discussion is in order. The 25% to 50% adjustment that the retailers make will hopefully not be necesssary. But if you reached the point where the buyer silence is deafening, a minimum 10% adjustment is in order.
The most effective way in which to increase buyer traffic is to adjust the price. If you don’t believe so, simply visit your favorite clothier over the weekend. Then visit a car dealership. The difference in energy will make you a believer in a real hurry.
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