HOW CAN RETAILERS ATTRACT MORE CUSTOMERS DURING THE POST-HOLIDAY SLOWDOWN?
Q: We had a decent holiday season but sales have dropped off since the New Year. How can I attract more customers?
Steve Pruitt: First, you’re not alone with the post-holiday slowdown. As we’ve said in the past, retail sales are historically slow in the quarter following a presidential election, especially when there is a change from an incumbent to a newcomer.
The good news is that consumer confidence is strong and we have seen a surge in job growth at the beginning of the year. Your task right now is to keep a disciplined planning process in place, until you see a pickup.
We are predicting an uptick later in the spring season. Just make sure that while you are being financially responsible you are also focusing on finding exciting, new products, and planning a string of promotions to encourage consumers to shop again. Take a deep breath because a new growth cycle is coming.
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