Are you the type that loves
throwing a party? Very detail-oriented ,loves writing up the invites, doing up
special decorations and knows just the right number of guests to invite? If you
also have that entrepreneurial spirit, then maybe you are just the right type
to throw an event sale. What is an event sale? It’s basically a pop
up one-time retail sale you can host for one or multiple days depending on
your preferences and if properly planned, advertised and executed can be a real
cash cow for an independent retailer. But before you consider hosting an event
sale the most important part is to do your research and have a firm plan of
action in place. What follows are a few helpful pointers in planning out your
first event sale.
What are you selling? – Identify
what merchandise you plan on selling, how much of it you feel comfortable in
handling in a single event and at what price points you want to offer. Focus on
a particular category it’s great to try and have something for everyone but in
a short window of opportunity like a popup event its best to have a very clear
focus.
Where you are selling- The where is
just as important as what you are selling. If your planning on doing a big barn
buster of a sale of say athletic apparel be sure to plan on hosting this event
in a space that can comfortably accommodate both your merchandise and a crowd
of potential customers. Consider renting out some space at a local hotel or a
storefront for the event just make sure the environment is a good fit for the
merchandise you plan on selling.
Mark it to move!- Price to motivate
a fast sale, remember you have a limited window of opportunity to make
these sales and pricing aggressively will highly motivate these customers. It’s
also a great way of building some word of mouth for the next time you plan on
hosting your next pop up sale. Make sure all of your goods are tagged and ready
for resale well in advance of the event you don’t want any last-minute
confusion caused by untagged items.
Have all the equipment you need-
Have all the essentials racks, display models and a register also make sure you
are set up to accept credit cards. Many companies such as Square and PayPal
offer devices that can be hooked up to your phone to accept credit card
payments.
Make sure you have some help- Rope
some friends or family into the action for the sale you can and will need some
assistance in prepping and monitoring your inventory while the sale is going.
Promote it- This one cannot be
overemphasized get the word out and start early! Utilize free social media
to the max! Post the event on Facebook , Craigslist and promote it in any local
papers or media your budget affords. Don’t overlook some old school methods
such as posters and flyers, they are a very effective way to get the word out
to your local community.
Do a dry run- Concerned you may
have overlooked something or just want some feedback on your goods or pricing?
Do a dry run private event with some friends and family to work out the kinks
you may encounter. You will have a much better idea of what to expect on the
day of the actual event.
Don’t Panic!- These type of events
can get hectic so don’t get overwhelmed trying to tackle everything. Try and
delegate some of the many hats you will wear to those friends and family that
you have conscripted into lending a hand.