Is Your 4th of July Sales Strategy Ready Yet?

Okay, Memorial Day was just yesterday and you haven't even had time to see if your sales meet your goals yet. But, if you're a retailer, you need to be thinking about the next big sales opportunity now. And the next natural holiday is the 4th of July. In retail time, if you don't already have a plan for it, you're already behind the 8-ball.

Unlike Monday holidays like Memorial Day and Labor Day, the 4th presents a new strategy dilemma each year because it's never on the same day of the week. When it falls in the middle of a week, you're never sure what days people will have off. The more people off, the more people that have the time to come shop at your store. You want to make sure your strategy drives the most people when they're in the market. This is doubly true for larger ticket items like furniture, appliances and cars. 

This year, the 4th falls on a Thursday. So, it's a good bet that the majority of people will have Thursday and Friday off. So that four-day weekend should be the strongest, sales-wise. But you can't ignore the weekend leading into the 4th week, especially if you sell items people will want for the 4th.

The strategy we're recommending for our big-ticket retail clients is to start your 4th of July sale the weekend before, but then kick it up a notch when the 4th hits. If you can afford to give something extra special for a day or two, you should create a pressure point on the 4th and the Friday after – as that's when the most people will be out in a shopping mood. It's also when you'll have the most competition. So you want to make sure you're giving your best offer to drive people into your store first. But carry your sale through until Monday. That covers the weekend and gives them Monday to come back, if they didn't make a purchase on the spot. 

Some of the economic indicators are starting to look positive, especially the new home buying numbers – but we're still a long way from our pre-financial crisis numbers. So, you need to do everything you can to make sure the natural holidays pull in as many shoppers now. These are the events that can make or break your year. Don't hold anything back, Because, chances are, your competition won't.

Michael Morin, EVP & Yaffe Strategist