During the holidays, consumers have the spending spirit. Americans' holiday spending in November and December (excluding automobiles, gasoline and restaurants) has risen between 4.3 percent and 4.8 percent in 2017, for a total change of between $717.45 billion and $720.89 billion. The forecast, according to the National Retail Federation, compares with an average annual increase of 3.9 percent over the past 5 years.
To capitalize on the expected spending frenzy this holiday season, you should consider these three ways to promote your business during New Year's:
1. Position products as "resolution solutions."
A new year means a fresh start. As a result, many Americans make resolutions as a way to improve their lives or reach new goals.
While up to 40 percent of Americans make resolutions, just 8 percent actually keep them, according to the Huffington Post. Why not help more people achieve their goals this year? Market your product as a tool that helps people keep their resolutions.
Your product or service might help people lose weight, improve time management, or limit stress. Think of ways your company can sell ''resolution solutions'' during the new year.
2. Have a "fresh start" sale.
As a new year rolls in, many people have an ''out with the old, in with the new'' mentality. You can capitalize on this concept by hosting a ''fresh start'' sale. Maybe you're looking to bring in new products and need to clear out some of your old inventory. New Year's is the perfect time to do it.
Promote your sale on social media, hang in-store banners, and create postcards you can add to shopping bags as a reminder.
3. Create content that helps people start new habits.
Since consumers are looking to learn something new or focus on improving certain habits, you can create content surrounding that idea while subtly promoting your product or service.
Content marketing is big right now. It costs 62 percent less than traditional marketing and generates three times more leads.
A company selling cookware, for example, might offer online cooking classes to help people learn something new. An investment company might create an eBook that offers wise investment tips for the coming year.
By using these three promotional ideas, you'll start your new year strong. Even hosting an impromptu New Year's sale or an online flash sale promoted via email can give your company a financial boost heading into 2019.