Episode Details

As we approach the end of financial year, you may be considering running a clearance or flash sale (affectionately known as an EOFYS).

There's the temptation to reduce how much you need to count during your stock-take.

Or to get a few quick sales over the line before having to pay the tax man.

There are many benefits to running an EOFYS:

• You can sell off end of season or last season's stock.
• Clear slow-selling lines or odd or less popular sizes.
• Encourage new customers to trial your products for the first time by retargeting people who have visited specific product pages in your online store.
• Or you can reward existing loyal customers or re-engage lapsed customers who haven't bought from you in a while.

But to benefit from the enormous potential of this strategy, you need to avoid the common pitfalls and mistakes.

Otherwise you could end up digging yourself into a bigger hole with poor revenue and profit now and into the future!

Listen to this bonus podcast episode as I share the common pitfalls and mistakes, as well as best practices for running a successful EOFYS.