Sales events are a routine practice for furniture retailers, but do they actually work?
Short answer: Yes.
The average revenue from a furniture sales event is $40,000. Not too shabby, huh?
Let’s break it down. For every 10,000 mailers you send out promoting your event, you’ll get 70-100 customers into your store. If you follow the tips below, you can expect to secure about a 50% closing rate for those shoppers.
With a projected per-purchase average of $800, that works out to $40,000 in the till.
But you won’t see that $40,000 revenue just by opening your doors and announcing your sale. Read on to discover the elements you need to make your next sales event a success.
1. Themed Branding - Most sales events happen around a holiday or change of season. This timing lends itself to creating an event theme. As you put together the details of your event, make sure everything ties back to the theme, from decorations to giveaways.
2. Bonus Extras - Nothing appeals to our instinct for a good deal like the word “free”! Offering free delivery, free setup, free removal, or a free gift as a bonus extra with any purchase is sure to sweeten the deal for any shopper.
3. Discounts - Settle on a special offer for your sales event. Whether it’s a blanket discount of 25-50% off or a coupon for $500 off with a minimum purchase, you need that magic number to catch people’s eye when they see it on a sales flyer.
4. Half-Off Mattresses - You can offer 50% off mattresses at every single sales event and it will always be effective. Why? Because everyone needs a mattress, and everyone needs to replace it every 10 years. There’s always a demand for a good mattress deal.
5. Hot Buys - Choose a few pieces to be hot buys for every sales event and feature them on your direct mail promotion. The hot buy will attract customers shopping for that item and will inspire curiosity about what other deep discounts they might find.
6. Greeter - Position a member of your sales team at the front door to greet people as they walk in. A greeter adds to the “special event” nature of the shopping experience, and is a great opportunity to engage with shoppers right away.
7. Special Financing - Offering special financing options during your sales event will appeal to people who may not otherwise choose to make the large investment required to buy a new piece of furniture.
8. Giveaway - In addition to a small free gift with every purchase, you can offer a larger giveaway with greater value for one lucky winner. Advertising that customers can enter to win a prize if they shop in-store is an effective way to get feet in the door.
9. Featured Collections - Choose one or two departments to feature on your mail promotion and highlight specific brand names available in your store. This gives customers a “sneak preview” of what they’ll find at the sales event.
10. Limited Time Offer - Always create a sense of urgency for your sales events. Advertising that the event only lasts for one weekend or one day tells people that they need to act quickly or else miss their chance to secure a great deal.
Once you’ve put in all the planning and effort to map out your event details, make sure you feature all your special offers, deals, giveaways, and hot buys on your promotional mail piece. The idea is to give people every reason to get up off the couch and come into your store to buy a new one!
Our Furniture Sales Event Checklist is a useful reference guide to keep on hand while you’re planning a new sales event. Download it for free!