A sales tax holiday is in your resale store’s future
July 19, 2018
An updated post from 2014
Plan to benefit from your state’s sales tax holiday
Tis the season to save on taxes. To help increase revenue, take advantage of your state’s sales tax holiday. By all means, start promoting it now. Be first and foremost in the minds of parents and shoppers and get ahead of your competition.
Many states offer a Sales Tax Holiday before the back-to-school season. Use this weekend to your advantage. Exempt items vary by state. Check the date of your state’s sales tax holiday and what’s included. It’s been predicted this year’s back to school spending will be slightly less than last year’s whopping $83 billion. Once again, apparel and electronics top the list of prospective purchases.
Tap into the college-age market
According to The Motley Fool, the highest amount of money will be spent on college students. National Retail Federation (NRF) Vice President for Research Mark Mathews said, “College shoppers are prioritizing and increasing their spending budgets in essential categories including clothing, furnishings, and shoes.” The oldest of Generation Z are in college now. Their fear of heavy student debt coupled with their eco-mindeness makes them a perfect target for resale. For more information about reaching this younger generation read, How to design your resale store to attract the next generation. Invite students of all ages to a fun fashion show. Bring them back at a later date with a coupon. If you host a fashion show for young ones, include face painting and games. Refreshments for both groups are a must.
Set aside a special spot in your furniture consignment shop for dorm and apartment-size furnishings. Suggest great pieces like retro lamps and pictures, or show how certain items can be used for extra storage in the dorm. Create a whole section dedicated to apartment decorating with love seats, small chairs, desks and tables. Offer fun decorating tips or even classes for DIYers or students on a tight budget.
Back-to-School isn’t just for students
Remember, you need to creatively appeal to parents and teachers too. Offer special discounts for teachers, adopt a class at a nearby school to collect school supplies or set up a wine & cheese evening for parents to celebrate their little one’s return to school.
Tie in to local school spirit
Almost every school from elementary to college has a Spirit Day and a special mascot. Whenever possible, tie into with clothing and accessories. Sponsor a school ball team. Sell school-related items. Participate in first-day-of-school events, picnics or Teacher Appreciation Days. Inquire about adding a flyer to “Welcome” packets for incoming freshmen. Run a fun contest that pits schools against each other to see which school’s fans are the most loyal. Leverage social media to build excitement around your brand and the school. Create a shop/school hashtag that ties the 2 of you together.
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