| The holidays are over - whew! Now what do you | | | | customer will appreciate the discount and you will |
| do with all that leftover holiday stock? There are | | | | still make a significant profit margin on the |
| several avenues to take regarding leftover holiday | | | | merchandise. Brian from Four Your Paws Only |
| stock but since each store is unique use the ideas | | | | LLC applies a discount before Christmas, he |
| below and apply what works best for your store | | | | states "We have an idea of how much holiday |
| and location. | | | | merchandise we'll sell and we start putting items |
| Sales & Discounts: | | | | on sale ahead of time at a lesser percentage off |
| The most obvious solution to leftover stock is to | | | | than after the holiday. For instance, if we place |
| discount the merchandise. However, there are | | | | the item on sale at 15% off the week before, |
| some creative ways to apply the discount that | | | | people will most likely purchase it because they |
| can be both enticing and fun for your customer. | | | | got it on sale. It is better than waiting to see if |
| Applying a straight discount (i.e. 50%) is a | | | | they'll buy it and then if not, it goes on sale at |
| standard method but customers also like special | | | | 50% off. This has really cut down on what we |
| deals and gifts. For example, a two for one | | | | have leftover and we still make more of a profit |
| special can be enticing especially on fun products | | | | by discounting it ahead of time. We have been |
| such as ornaments or toys. The customer is still | | | | stuck with holiday overstock before and find |
| receiving the same 50% discount but the | | | | nobody likes to buy holiday specific items after |
| perception is that they are getting something for | | | | the holidays." |
| nothing. Another unique sale is to give your | | | | Keep the Stock: |
| customer a free gift with purchase. For example, | | | | Another unique concept is to keep the holiday |
| with a purchase of $25 or more, give your | | | | stock and sell it at full retail next season. If the |
| customer a free holiday dog toy. Provide a | | | | product isn't a timely item such as a 2006 |
| basket of toys within a certain price range for the | | | | ornament, storing and keeping the item for the |
| customer to choose from and they will love | | | | next holiday season can make sense too. Kevin |
| picking out a free toy! | | | | Finnen from Squaw Valley Clothing Company in |
| Displays: | | | | North Lake Tahoe, CA says, "If I know I can sell |
| Another important method for moving leftover | | | | the item at full retail value next year, I will keep |
| holiday stock is to display it prominently and | | | | leftover holiday items for the next season. I |
| clearly. Display the merchandise in a high traffic | | | | would much rather sell the item at 100% then at |
| area so every customer can peruse the sale | | | | 50% or 75% off the retail value. Besides, we are |
| items. Brian Ahearn from Four Your Paws Only | | | | merchandising our holiday inventory earlier every |
| LLC in North Conway, NH recommends, "Display | | | | year so we are only holding on to the items for a |
| any leftover holiday stock on end caps with great | | | | few months." Many unique items such as |
| signage". Basically, make sure that the signage is | | | | personalized ornaments or stockings also sell year |
| clear and enticing. The sale table can look amazing | | | | round. Instead of storing the leftover holiday |
| but without clear proper sale signage, your | | | | merchandise, devoting a small retail space for |
| customer can become confused and frustrated | | | | your most popular items can prove profitable. For |
| and might not ask for clarification. | | | | example, if you sell crystal breed ornaments that |
| Employee Incentives: | | | | cannot be found elsewhere, your customer will |
| Employee incentives can be an effective tool in | | | | most likely buy one at any time of year. This is |
| moving the leftover stock. It can be as simple as | | | | especially true in tourist areas in which your |
| buying your employees lunch if they sell a certain | | | | customers shop with your store infrequently or |
| amount or applying a straight commission rate of | | | | perhaps even just once. Having a small section of |
| 10% on any sale holiday stock sold. Employees | | | | holiday items adds a unique spark to your pet |
| are a store's most effective sales tool and they | | | | boutique and can significantly increase sales |
| can make a significant difference in your sales | | | | numbers. |
| figures simply by knowing the sale merchandise | | | | Giving to Rescue Groups: |
| and making suggestions to the customer. Another | | | | This method doesn't increase your bottom line but |
| employee incentive can include free merchandise | | | | it will increase your standing in the community. If |
| for the employee. Give your employees a free | | | | the items that are leftover include toys and |
| toy or bag of dog food when hitting certain sales | | | | treats, donating them to a local rescue group is a |
| goals for the holiday merchandise. | | | | great way to help out the homeless pets and |
| Discount Before Christmas: | | | | give them a fun post holiday treat. And of course |
| A unique idea is to use for next holiday season is | | | | any products donated are tax deductible. |
| to offer a small discount on the holiday | | | | So don't fret if you have over-ordered this |
| merchandise right before December 25th. Offer a | | | | holiday season; apply these ideas and you should |
| 10-15% discount the week prior to Christmas to | | | | be rid of all that red, green and blue stock in no |
| sell the majority of the holiday stock. Your | | | | time. |