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February 28, 2009

Analyse your sales to formulate marketing strategies

Filed under: Discount Cards — 5:27 am

Stores continue to slash their prices, offering some big discounts in a bid to get customers through their doors.

Generally, traders continue to report slower sales and are still looking for any sign of an upturn in purchasing this year.

In an effort to entice customers through their doors, many businesses are extending their sales and varying special offers more frequently.

Marketing and retail sales analysis could well play a big role in determining what customers are looking for and also what they are buying.

Customers are being continually prompted to make use of all the money off coupons, vouchers and loyalty card schemes to help reduce outgoings but these are also excellent tools for monitoring such activities.

Analysis of the coupons and vouchers being redeemed together with analysis of the products being purchased by a store’s loyalty card holders is probably one of the cheapest and most economical ways to collect data.

Today’s technology makes it very simple indeed, even for those who’s tills are not linked electronically to their loyalty card sales.

A simple Excel spreadsheet would be more than adequate to generate the necessary data analysis. It is then simply a case of interpreting the output and identifying any trends.

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