They’ve been advertised in many different forms this week through the utilization of many different venues. Newspaper, online, emails, billboards and more. The annual “day after sale” for many of the area's clothing stores.
Astounding Numbers
The allure of bargains is not the only reason for the dramatic increase in shoppers every year the week after Christmas. Many consumers have time off from work. The day after Christmas is historically the third biggest shopping day of the year as many people hurriedly return gifts that they receive the day before. This year it’s a Thursday, and if history repeats itself there will be a staggering $4billion worth of gifts returned. Nevertheless, the abundance of sales are in fact the primary reason for the deluge of bargain hunters flooding the department store aisles and local boutiques.
Conversely, I spoke with a friend today who works at a car dealership. She said that it’s been relatively slow this week. The dealership is not having a sales event.
A Lesson For Homeowners
Perhaps the strategy implemented by retailers is one that frustrated homeowners might want to consider utilizing themselves. If buyer traffic has dramatically slowed down, the motivated seller looks for solutions. An increase in online exposure and other marketing venues may help, but they alone may not be the answer. The 25% to 50% adjustment that the retailers employ certainly won’t be necessary. Yet if offers are non-existent, or if you have reached the point where the silence of buyer activity is deafening, a 5% - 10% adjustment is in order.
The most effective way in which to increase buyer traffic is to adjust the price. If you don’t believe so, simply visit your favorite clothier over the weekend. Then visit a car dealership. The difference in energy will quickly make you a believer.
