Our hypothetical shop is in the northeast and planned the
following promotions and events this past spring-summer season.
January – All
merchandise that was not to be carried forward was put on sale at 40% off.
February – Indoor
chipping and putting clinics were introduced.
Wedges, putters and shoes were offered at a
discount.
March – Choice of a free cap with the purchase of any one of the
new knits coming in for the season.
Caps were purchased off shore to limit the loss of margin.
April – Lady’s
luncheon and trunk show. Demo Day and a Gentlemen’s Night following Men’s
Opening Day competition.
Vendor participation of full product
availability with Lija and Addidas apparel and shoes for the ladies event; a
Taylor Made Demo Day, Fairway and Greene, Martin Dingman and Payne-Mason
cigars for the Gentleman’s Night.
May –
Member/member and member/guest tournaments.
Gift certificates as favors with Titleist
and Footjoy setting up a consignment shop.
June – Choice of a
free pair of shorts with purchase of any two shirts.
Both shorts and shirts were bought
specifically for the promo at a discount. The shirt selection also included any
aged merchandise
July – Thursday
evenings - Couple’s Chip and Putt contests with shop credit prizes and wine and
cheese were instituted.
Reviewing the sales history revealed all of this year’s events
and promos to be somewhat successful but that the Demo Day and Gentleman’s
Night produced a huge day of sales and the cap and short give-away were particularly
well received. Also January’s sale was
successful in getting rid of a lot of residual inventory.
Once we are convinced that this is the case and wanting to
increase or enhance the frequency and intensity of success this season
we will plan the following:
- Have two Demo Days – one
in May and one in June.
- Plan a fall version Of Gentleman’s Night
with themes and local celebrities at both the spring and fall events.
- In order to leverage the
success of the give-away promos we will repeat the short giveaway in June
using a different vendor and fabrication.
- Move the headwear promo to
April and add a lightweight spring jacket give away in March with any
purchase of $150.
- In order to eliminate the
math in the January clearance sale we will go to ‘buy one get one’ on all marked
down merchandise
While discussing these past events and future strategies at
a golf staff meeting at season’s end the first assistant suggested that the
events and promotions as well as the fact that Donovan McNabb
has agreed to appear at the fall Gentlemen’s Night be posted in January’s
newsletter so as to create plenty of pre-event interest and give the staff an
opportunity to talk up the next six months activities often and well in advance.
The points being made here to review are simple but worth
repeating:
1. Think
outside the box when strategizing promotions and events keeping in mind that
those facilities that are doing nothing to inspire interest are perceived as doing
nothing.
2. Leverage
past successes by increasing either their frequency or value.
3. Once
the schedule is planned announce it in its entirety and plan all buys and turns
of product accordingly.
We now have a buy-plan based on space and turn that will
make the shop well-merchandised but not over-inventoried. We have a promotional
schedule and list of events and have inspired the staff to preview it to the
membership. We have done the homework and decided on the vendors that will be
our best partners at these events and have provided the best sell-through to
date. We are now prepared to have
effective and productive business meetings with vendor reps.
