Retail Calendar 2023: How to Use & Benefits for a Maximum Revenue [Free Download]
A retail calendar is a special calendar used by the retail industry that allows a comparison of sales between years. Successful retailers get prepared for their yearly sales and marketing activities with special days on the retail calendar.
If you need a retail calendar and don’t know how to use it, keep reading! In this blog post, we will explain how you should use the retail calendar and its possible benefits to maximize your revenue.
Let’s dive in!
How to Use Retail Calendar
A retail calendar enables you to plan your marketing far in advance. You can use various pricing strategies, update your website, collaborate with social media influencers to promote your products and create social media promotions on special days.
- Promote Special Days on Different Channels
One of the best ways to use a retail calendar is to promote your store on special days. Track special days on the retail calendar. You can consider it as a monitoring task and you should do it on time. Then, start planning your promotion by using pricing strategies and ensure everyone knows about it!
Social media is a great place to promote your business. Show your presence on various social media platforms such as Snapchat to Tik Tok. Before entering a new social media channel your marketing team should consider whether your target audience is active on that platform or not
Encourage your customers to visit your store. You can create unique & eye-catching designs for social media and CTAs for your website and product pages.
2. Report Sales Monthly
Special days on the retail calendar are the same for every year. Therefore it gives you a great opportunity to compare sales week to week every month. You can measure your success with the retail calendar in monthly increments.
Another way is as you go through each day in 2023 and set goals, you can always refer back to 2022 sales to see what days you should be compared to from the previous year. This can be beneficial since it gives you a good benchmark for your performance the following year. It also offers a good point of comparison.
Make sure your sales teams are using a retail calendar while tracking the performance metrics of the sales on a monthly and quarterly basis.
3. Ensure Stock Availability
On a retail calendar, there will be days you should be preparing months before. That’s why you should make an accurate forecast and track stock availability. This is important because if you will be out of stock you will lose your customers to your competitors.
To make stock tracking faster and more efficient you can track competitors’ stock availability. Use automated tracking software to immediately know when your competitors are out of stock. Then you can offer a higher price than your regular prices and increase your profits! Remember that you should always track your stock levels to ensure you can always be ready for higher sales on special days.
Allocate your resources from stock availability to finance to maximize your revenue and get the most out of your sales during the year!
Benefits of Using Retail Calendar
- You can ensure that you have a fair comparison of sales figures between years and months. As explained above you can measure your sales performance both on a monthly and a yearly basis with a retail calendar.
- You can set sales goals and plan marketing activities. This will help your teams have some specific goals and indicate growth based on store traffic and the number of sales.
- Your team can always know what they should prepare for the upcoming months. The calendar gives a great opportunity to your teams for a better understanding and planning of their monthly tasks.
Takeaways
The retail calendar is a great source for retailers to get prepared for special days to boost their sales, maximize their revenue margins and create a strong brand image. You can follow the points we have mentioned above in the article to use the retail calendar. Hopefully, you can compete with your rivals and make the most of your sales!
