It's no secret that Christmas retail spending is a major time for businesses to boost sales and attract shoppers with their promotions, but it's not all over once the clock strikes midnight on Christmas Day.
Instead, on December 26 comes the promise of an even busier shopping event - Boxing Day. Ripe with sales and immense foot traffic through the malls, Boxing Day is a prime opportunity for any retail business to have one last financial hooray before the year comes to a close.
The amount of money spent on this day is significant. In 2014, spending was estimated to be as high as AU$2.6 billion by the Commonwealth Bank, while the Australian Retailers Association's had a slightly more conservative figure at AU$2.1 billion.
Compared to 2013, the spending has increased as only AU$1.9 billion was spent that year - so if the upward trend continues in 2015, retail businesses are looking to gain considerable profits once the store doors open on Boxing Day.
Make the most of foot traffic with pinboard promotions
By installing custom-made designer pinboards in your shop window, back-counter behind the checkout desk and even on the walls above your shelves, you can create walls that are ready for pinning promotions, posters, sales, discounts and other calls to action for your consumers.
Why these places in particular? Well, in the current spatial design industry, 'wayfinding' is the key method used for store layouts and these areas are considered the 'prime' spots for communicating information to consumers.
In a nutshell, wayfinding involves signage, arrows, posters, directions or any other form of conveying directions to consumers. The three spots mentioned above are typically areas where consumers spend the most time browsing, so it's in your business' best interests to capture their attention here. In fact, the shop window or store entrance was found to be the most influential in convincing purchase decisions in a study from MIT researchers.
"Consumers start with fuzzy shopping goals, which become more concrete as the shopping experience progresses. Because of the initial lack of concreteness of their goals, consumers' sensitivity to external cues is likely to be higher in the earlier stage of their shopping when their goals are more malleable," explained Leonard Lee and Dan Ariely, MIT researchers of the study, in an article for the Journal of Consumer Research.
Talk to the experienced team at Designer Pinboards Australia to learn how custom-design pinboards could benefit your retail business, not only on major shopping days but all year-round.