Top 10 Most Important Dates in the Retail Industry
Everyday presents many opportunities to attract customers and generate profits in business. However, there are certain dates in the retail industry when customer traffic runs wild and potential for sales increases dramatically.
It is true that a lot of retailers were able to take advantage of this trend. Some even spend months preparing just so they can funnel as much sales as possible. It’s time for you to get a share of the overall profit potential of these retail holidays. On this list, we’ll show you how thrilling it could be.
Note these dates on your marketing calendar and be ready for the onslaught of consumer spending.
New Year’s Eve
As New Year’s Eve looms near, people are making resolutions and plans for a fresh start. Retail therapy comes in full force too as consumers want the best items that can gear them up for the new year ahead. The hype of year-end celebrations of people across the country makes this day a perfect cash cow. This is also mostly seen on businesses in the food and entertainment industry.
According to Commonwealth Bank, consumers spent an incredible $74 million on last minute shopping during New Year’s Eve in 2016. Number of purchases increased by 32 per cent every year. The busiest businesses include supermarkets, restaurants, service stations and transport services.
Back To School Sales
Everything that kids need for school will see an exponential increase in sales on this retail holiday. Australian Retailers Association states that school supplies, apparel, department stores, footwear, and specialty retail traders will experience a boost in profits. Parents are also going for online retailers in purchasing items. Moreover, Australian shoppers spend $16.8 billion between mid-December to mid-January.
A study by Finder.com.au confirmed that Aussies who are recently married spent $253 million on Valentine’s Day last 2017. IBISworld also predicted that spending reached $1.09 billion this year. Aussie men are found to spend $119 more on presents than their female partners. Common activities during Valentine’s Day include dining with expensive wines, romantic dates, or sailing away on a short cruise. So prepare your business with a theme of love and giving. Couples are high and ready to spend on this day of romance.
New Retail ’19
Gain an edge by keeping up to date with what moves the industry through the upcoming New Retail ’19 on Feb 25 – 27, 2019. It will be the ultimate hub of retailers, partnerships, thought leaders, and knowledge sharing that will catalyse innovation in the industry. Register now or start an event partnership with us.
Cash Mob Day
Cash Mob Day is an initiative done in many countries in the world. This is when eople come together at a certain date and time to give a local business in town an economic boost. It stimulates the local economy. Moreover, it helps small businesses thrive in a highly competitive corporate market. This day is also a great time for locals to discover new businesses and secret gems that they never knew about. To know more about how you can take advantage of this opportunity, visit CashMob.com
Many of us have deep love to the women who brought us into this world and raised us. With people holding great love and gratitude for their mothers, spending money on gifts and celebrations run high on this day and the days leading to it. According to Sydney Morning Herald, Australian families spend over $2 billion to celebrate their mothers. $200 million of that is spent on flowers.
Father’s Day spending has been found to outperform Mother’s Day sales in the recent years. According to Vend Australia, spending on Father’s Day increased by 8 per cent compared with a typical Sunday. People might find it hard on what to give to their fathers. Therefore, a lot of people just head out for a meal to celebrate. However, retailers can take advantage of this day by curating and packaging products as Father’s Day gifts. They can also partner with other local businesses to provide special offers.
Halloween is increasingly becoming a popular holiday in Australia. Retailers are high on cashing in on this celebration to drive sales. Supermarkets, party favors, food and dining also find an increase in sales as they play with a Halloween theme for kids and their families to enjoy.
Australians have embraced Black Friday as a thrilling shopping event in the retail calendar, with spending that reached more than $200 million on customers shopping through their smartphones. Sales volume were up 16 per cent according to Fairfax Media. Get your online stores optimised for mobile and see your sales soar as shoppers prepare and spend more for the upcoming holidays.
Crowds of bargain hunters flocked to big retailers just to snag post-Christmas sales last year. According to the Australian Retailers Association, shoppers are expected to spend $2.4 billion on Boxing Day, splurging on in-store sales and online deals. The increase in spending are seen in many niches including books, fashion, movies, music, electronics, food and so much more. Retailers are expected to optimise their store front across channels – whether it is in brick-and-mortar shops, online stores, and social among others.
How You Can Ride the Trends
New retail events drive sales and capture an early margin than the peak season in December. The Australian retail calendar will gain a steady increase from month to month. It will spike in July and then significantly increase in November to December. November has been found to garner exponential sales across categories due to Black Friday and other retail holidays. Retailers can make an additional push by December through Christmas and Boxing Day.