July 2024 Marketing Trends with Liz Whitehead

marketing trends the inventory genius newsletter Jun 27, 2024
Image for July 2024 Marketing Trends newsletter article with Liz Whitehead.

Start Thinking About Fall: 3 Ways to Free Up Cash Flow

by Liz Whitehead

It's time to start thinking about fall! I know it's hot in most places in the US, not just catch-some-rays-and-enjoy-a-cold-drink hot, but melt-your-face-off kind of hot, especially if you're in Oklahoma like me. Even though not many people have fall on their minds, as a retailer, it's time to start preparing for the back-to-school and sweater weather season.

I remember when we used to host our back-to-school event, we had to bring the racks in from outside before noon, otherwise, people would get third-degree burns while looking for cute cardigans and fall booties. šŸ¤£

Here are some ways you can use your email and text lists to clear out summer inventory to free up cash flow for fall.

  1. Check if your state has a tax-free weekend and plan a fun in-store event around it to get people excited for back-to-school. If you don't have a storefront, look for a local coffee shop or space where you can host a pop-up event.
  2. Send people a special coupon for 30% off one item. The discount is not fixed, so do what's best for your profit margins, but make it enticing for people to leave their pools and cars and shop with you.
  3. Make a segment of people who purchased from your summer collections and send them a special coupon for a discount on those specific collections - tanks, sandals, shorts, all the things you want to clear out before everyone shifts to fall.

One key marketing tip is to stay ahead. If you're not thinking about how to clear out summer inventory until the weather cools down, you're too late. People's minds have already shifted to fall, and they no longer want to buy tank tops, even if they’re $10. Capture the sale while the items are still in the current season, but you know your store needs to shift to be prepared for the next season.

Do you have an email or text list that needs to be warmed and nurtured before we head into 4th quarter? Let’s chat!

Email me at [email protected] or join my Facebook group here: https://www.facebook.com/groups/emailmarketingforboutiques 

Get tips and trainingsĀ delivered to your inbox.

Weekly bite-sized advice from Ciara Stockeland.