You aren’t the only one holding your breath. There’s massive excitement built up around the upcoming sales promotion amongst you and your team, as well as customers who’ve caught wind of it. The sale starts and you watch as traffic pours into your store. Then you start looking at your sales reports, which are looking real good.
But when the smoke clears, your epic sales promotion may not have been as exciting (and profitable) as it initially seemed it would.
Much like a night of binge drinking at a bar, an all-you-can-eat buffet, or a marathon on Netflix, retail sales blowouts are full of excitement and energy in the moment. But you inevitably wake up the next day wondering…
“Why the heck did I do this to myself?!”
When you plan a sales promotion, the goal is to move a ton of inventory and increase revenue in a short amount of time. However, what happens when:
- The major draw of the sale sells out too early, leaving customers frustrated with the lackluster inventory levels?
- The inventory you’re trying to get rid of doesn’t move at all?
- An unexpected number of customers come in with returns?
Epic sales promotions may seem like a good idea, but often the end results aren’t as glamorous or pleasant as expected. Here’s what happens during sales hangovers, as well as what you can do to avoid them in the future.