As the saying goes, “Failing to plan is planning to fail” - with almost a month to go until the new tax year begins, now is the time to get organised.
As every retailer knows, the End of the Financial Year is the prime time to clear excess inventory as well as take advantage of the buyers who need to spend their budget and re-equip to take advantage of tax breaks.
Here are 5 tips for making the most of the busy (and opportune) EOFY period.
EOFY becomes a reason in itself
It doesn’t matter what you are selling, create buzz around this time of year. EOFY is a great excuse to promote anything you are selling (new financial year = new you, a new car for a new financial year) and a perfect reason to hold a sale, offer a discount or even have an EOFY party.
Set up a pop-up shop
Get out there amongst it. People are out there and open to EOFY spending persuasion, take your best and leftover inventory to where the people are – promote your wares, hand out free samples and invite them over.
Create a catchy, topical catchphrase
Create a sense of urgency and occasion. Don’t wait until June 30! Make your life less taxing! Grab your tax time advantage before it’s too late! Add to window and store displays as well as images on marketing and promotional materials to let customers know what’s on offer.
Support your online strategies
Communicate messaging consistent with your website, PR, online advertising, and social media channels by creating in-store displays that reinforce the promotion and the brand.
It’s never too early for a new financial year promotion
While you have their attention, offer vouchers so customers can come back and spend their refund money in FY17/18.
Simple signage like banners, posters, window decals, standees, digital displays, or even vehicle magnets can be used easily, and cost-effectively to lead your EOFY sales campaign.