How to Conduct a Store Closing Sale
Postcards are the best way to reach customers about when your sale starts. You want to create a shopping frenzy the first day to get more sales at the lower discounts. You can target a mailing list or use EDDM (Every Door Direct Mail)
The postcard should have your hours and when the sale starts. You could mention free prizes and draw a few days later giving away two-four $25 gift certificates to your store. The very top in large print should say” Going out of Business Sale”
Send as many postcards as you can, but I would do at least 2,000 unless you are very small or have a lower number of products to sell. You want the postcard to hit a few days before the sale starts.
Before you start your store closing, there is a lot of work that needs to be done. Here are a few tips.
When Your Sale Will Start– The time to start your sale should be Wednesday or Thursday. You should make a guideline on how long the sale will last, but adjust if needed.
Employees– You need to decide when to tell your employees. I would suggest a week to 10 days before the sale starts. Also, you need to have a plan for keeping employees around the entire sale such as offering a bonus.
Pricing– You need to set your initial pricing and what your pricing will be in the future. This helps you set the length of the sale.
How to Let Customers Know– The most effective way is by sending postcards or letters to the surrounding area.
What to Do With Inventory at End– You can sell it in bulk like in 4-foot sections or you could donate it.
What Fixtures to Sell– You must decide what fixtures to sell, your pricing and when the customers can take them.
Signage & Banners– Decide what signage and banners are needed to let customers know about your sale, policies, pricing and more.
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