Every business experiences a period of slow sales. Whether a small start-up or a big corporation, this phenomenon naturally happens.
However, that does not mean that you’ll just let it run its course. An entrepreneur must remember that a period of slow sales can lead to the fall of their business if they don’t act on it.
But don’t fret. There are many ways that slow sales can be remedied. In fact, most of them are practical and relatively easy to do.
Reversing sluggish sales is possible with these easy-to-follow tips, courtesy of Kabbage.com and some of our commercial property brokers in Victoria.
Give Free Stuff
Yeah you read that right. If you’re having sluggish sales, give some of your products for free.
But don’t worry. We don’t mean that we want you to give everything; we just want you to give free samples of your product that may encourage customers from actually buying it. Let’s say you’re a bakery, give out some free samples of your brownies then maybe, that customer will find it delicious and buy a box!
Hold an “Everything Must Go” Sale
If giving free stuff is a little bit too much for you, then maybe we can suggest selling it at a discounted price?
Especially for products that have been sitting on shelves or your storage room for months now and you need to let go and let go FAST.
Holding a sale lets you dispose of excess or unsold products quickly for the cheap. This way, your product will be sold quicker while still making some profit.
Reward or Give Incentives
Here’s another solution. How about whenever a customer of yours reaches a certain amount of purchase, you either give them a freebie or a discount?!
Sounds fair enough right? Giving and rewarding a person encourages them to continue what they are doing, which in this case, is patronising your business.
Just a reminder though, try to make the reward worth it, okay?
