Memorial Day is right around the corner! While the day itself is spent by Americans honoring their loved ones and should not be expected to bring in high amounts of foot traffic, the week leading up to the holiday can offer many opportunities for business owners.
As consumers prepare for their three-day Memorial Day weekend, they give local businesses a significant boost in revenue.1 Memorial Day weekends are famous for shopping and celebration with outdoor gatherings as the weather changes.
It’s the time when people are getting ready to revamp their wardrobes and stock up on summer essentials, with the added incentive of Memorial Day sales for many industries.
While the impact of Memorial Day weekend varies across industries increased sales are driven by increased transaction volume, not higher spending per purchase.1
Last year, more than one in five respondents (21 percent) said they planned to purchase physical goods within a brick-and-mortar store during the extended holiday weekend, while 17 percent expect to buy physical items (as opposed to services) online.2
Now is the time to step up your sales offerings and get ahead with planning promotions! With many people seeking the best deals of the season, now is the time to put together an offer that makes your business stand out from the crowd.
Think about what purchases your customers typically make this time of the year, and how you can capitalize on those trends. What accessories will become more popular with the warmer weather, and can you bundle any product and accessory combo? Do you have last season’s products you could clear out at an exciting discount?
Make sure that your marketing makes your offer stands out. Many news sites, blogs, and local publications feature whole sections in the month and weeks leading up to memorial day weekend dedicated to tracking down all the best deals.
With so many people out and about enjoying the extended time off it’s also important that your business has eye-catching signage and window displays to draw people in.
If your business is in a location people will not stumble upon at chance, don’t panic! The extra free time off from work still means people will be more inclined to leave the house and travel to a business.