Every ecommerce-savvy seller knows that Black Friday and Cyber Monday are heavy hitters in the industry. But there’s a dark horse holiday that can actually be quite profitable for your store as well: Presidents Day.
In fact, Volusion data for the past three years shows that our merchants on average see about a 1.2X weekly boost in sales the week of Presidents Day. Many of these numbers are attributed to bigger brands who already know to take advantage of the holiday, which is why you should too! Read on to learn more about why you should be evaluating your sales strategies for Presidents Day.
Tax Returns are Rolling In
One of the big reasons for extra spending on Presidents Day is tax return season. Early birds who filed in January are getting their checks just in time for the holiday, and The National Retail Foundation estimates that 9% of consumers will spend their returns on a major purchase. This could be the time of year you should consider slapping a 15-20% discount on bigger items. People are itching to spend, and they’re more likely to pull the trigger if they’re getting a deal.
Say Goodbye to Winter Inventory
Presidents Day can be a great time to start getting rid of your winter stock before warmer weather rolls around. It’s still cold enough that people won’t hesitate spending money on fall/winter goods, but act fast: the minute March gets here, everyone will be scrambling for the hot new spring products on the market. Use the third Monday in February to offer some serious deals on stock you want to clear out; it might be the last chance you have to get rid of them before spring fever sets in.
How to Get Prepared
If you want to see a standout Presidents Day success story, just look at Furniture.com. On Presidents Day 2015, they reported a sales increase of 240%, with their revenue up 260% from the year before. Those are some stellar numbers! We’ll say it one more time: People are spending money on higher ticket items this time of year, so consider giving a deal on some goods that may not move as quickly during other seasons.
But if you want to get people spending, you first need to make them aware of your Presidents Day deals. Furniture.com had a multi-step approach that paid off for them; here are some similar steps that you can take for your own store:
- Set up an eye-catching remarketing campaign to remind buyers what they’re missing out on.
- Create a high-quality PPC campaign and catch the attention of potential customers.
- Target abandoned carts so people don’t forget that they’re thisclose to getting the goods they want.
- Stand out on social media, and don’t let your fans forget that you’re offering them some great deals.
Even if you can’t host a massive Presidents Day sale, consider offering free shipping on orders over a certain amount, or including a little extra gift with purchase. Even a little foresight can mean extra sales for your business.