It’s that time of year, again — the holiday season.
As we gear up for a season of gift-giving and get-togethers, liquor business owners and customers alike are ready to stock up on bottles of everything from bubbly to bourbon — so make sure you crush the competition and become the go-to liquor store this season.
Get in the spirit with these four fun holiday-inspired promotion ideas to attract buyers and boost profits.
Retail stores of all types take advantage of seasonal timing by offering prolonged periods of deals and discounts. Playing on a classic holiday song, many business owners find that 12 days is a popular period to present different deals to customers — and that gives you plenty of time, so get creative!
Try offering a different discount each day, possibly increasing as you get closer to the holidays (and need to push more product) — ranging from five percent off the first day, up to 60 percent or more on the last. Or try discounting different products on different days — 20 percent off a particular brand of pinot one day, and then 30 percent off a specific bottle of brandy the next. You might even throw a buy-one-get-one (BOGO) deal in there, too — 50 percent off a second bottle of chardonnay.
Variation is the key to keeping customers coming back. With 12 days of deals, they’ll know to expect a discount, and are sure to return to your business in-store or online to take advantage of holiday sales. And if they’re stocking up, they could possibly return every day.
The holiday season is all about gift-giving — take advantage of this opportunity to streamline your customers’ holiday shopping, while offering a promotion that will ultimately boost your profits.
Create gift guides for buyers to help them pick out the perfect products to purchase for their friends and family (or themselves). Do you notice you sell a significant amount of white wine? Put together a “white-wine lovers’ guide,” complete with a couple of bottles of wine, a corkscrew, and a set of stemless glasses — and offer a slight discount on anything bought from this list. Use buying behavior data to back it up, too. You can decide if you want to push more of a product that you know consistently sells well, or if you want to move more slow-moving inventory.
You can also curate gift baskets, and use your point of sale (POS) system’s mix and match pricing feature to bundle different items together at a discount. Get creative and try recipe bundles that contain all the ingredients for popular holiday drinks — red wine, brandy, and some glasses for a mulled wine set, for example.
Convenience is important at all times, but especially during the busy holiday rush. Keep things simple for your customers — they may end up buying more in the long run.
Holidays are meant to be celebrated.
Make the most of this time and get your customers into your store by hosting holiday-themed events. Host in-store wine and liquor tastings, and offer deals on full sizes of the samples given (free samples can boost profits by up to 2,000 percent).
Or throw a “paint and sip” party, where customers can buy a bottle of prosecco to pop as they take painting lessons with a holiday theme, like a modern take on a classic Currier and Ives snowscape — or maybe even a favorite pet in a Santa hat.
If you have the space, consider hosting a trivia night, too. Let participants buy a bottle of their preferred beverage for the table, and have them compete in holiday-themed music bingo or Christmas movie trivia. Once the wine is flowing and the fun ramps up, they might be tempted to add more products to their shopping cart.
The holidays are the perfect time to celebrate your customers. They’ve been loyal all year, and between buying gifts and preparing for holiday events, they’re probably spending more money than ever — so make sure to reward them.
Offer exclusive deals, like deeper discounts or early bird specials delivered straight to their email inbox, or give a free gift with purchase to any customer enrolled in your rewards program. Try including a bottle opener or muddler — think about branding such small-ticket items with your store logo to use as freebies throughout the year. And consider inviting them into the store for a “members-only” type of event, where they’re automatically entered into a raffle contest for a big-ticket item, like a bar cart.
Customer retention can drastically increase profits, and it’s one of the easiest ways to do so. Know your target market, and keep them happy — and when you do get new customers, encourage them to come back. Offer discounted gift cards or coupons to be used later in the season (or even after the holidays are over, if you really want to maintain that customer relationship).
Most importantly, make sure your customer loyalty program is up and running smoothly before the holiday rush, so both you and your buyers can get the most bang for your buck.
The holiday season is here — prepare your business with a point of sale system that can help you manage the increase in holiday traffic, and the promotions you’ve created to make the most of it.
To get started with a POS system created specifically for liquor store owners by liquor store owners, schedule a demo with one of our Bottle POS specialists today.