Summer is shining upon us with full force. Kids are out of school, vacation time is approaching and people are spending more time outdoors. For some businesses, this can be a great thing as they see a major boost to their sales. However, other businesses can face a serious struggle to keep their heads above the water with a seemingly nonexistent demand. No matter the business, there are always seasonal factors at play that can impact the entire industry.
Here is a look at why some business' sales spike while other business' sales dip during the summer months.
Summertime Sales Spike
1. Tourism- Depending on where your business is located, you may have a major population shift that can work to your advantage. For instance, beach-town retailers enjoy an influx of vacation-goers looking to stay cool.
2. Seasonal Demand- During the peak summer months, certain products are definitely more in demand than others. Sporting good stores, book retailers and liquor stores all see a positive boost to sales as people are relaxing more and spending time outdoors.
3. Kids are out of School- Toys, books, sunscreen and outdoor play items are all in demand during the summer season. Parents want to entertain their children. Grab-and-go foods that are easy for children to prepare and eat become popular. More picnics and pool outings mean lighter foods. Hello, sandwiches, goodbye lasagna.
4. Swimsuit Ready- In summer, people show more skin. Whether this is by the pool or because they just want to stay cool, the heat impacts what we wear. Likewise, people naturally want to look good and feel confident so during summertime, people will buy more health-related products, exercise equipment and lighter, healthier foods.
5. Back-to-School Sales- Ironically, thanks to Amazon Prime Day which occurs mid-July, businesses are seeing a surge in back-to-school item sales earlier than ever. People are looking for good deals and wanting to spread out the dent to their wallets from all the new items their children may need.
Summertime Sales Slump
1. Tourism- Tourism can be a great thing for some cities while other locations can experience the dreaded coldness of "off-season." If everyone is leaving town, it makes sense that naturally, there would be fewer consumers.
2. Seasonal Demand- This is another item that can be good for certain businesses and not others. If you are in the scarf business, summer is just not your peak sales time. Also, people are spending more time at home with their children so they may not need a dog-walker during these months.
3. Nice Weather- When the weather is nice, people gravitate outdoors. This can have an impact on numerous businesses. People are more interested in attending parties and weddings than going shopping indoors. Less traffic means fewer people browsing the shelves.
If summertime is not the best time for your business there are a few things that can help generate more interest among consumers. Social media, contests and creating fun holiday-themed sales are all good things to try. Trying out new items or adding value by giving out products can entice people to ditch the heat while reminding customers of your business' coolness. For more information, please contact us and visit our website!