Saturday, November 26th is not just another day – it is Small Business Saturday! This holiday was founded by American Express in 2010 and officially co-sponsored by the Small Business Administration in 2011. The entire point of this holiday is to encourage shoppers to shop locally in-person and online at small businesses. With small businesses all over the country still in recovery mode this holiday is more important than ever. This is the perfect time to start advertising the products and sales that your small business customers will have in place on November 26th and use co-op funds while doing it.
Tips for a successful Small Business Saturday
- Do Something Special – host a special contest for kids (snacks, coloring page or activity), host a sip and shop (music, wine, etc.).
- Get the “Word” out – increase your advertising to let folks know what brands/products you carry, what special promotions or events you are hosting. Reinvest in social media and boost your other marketing strategies.
- Stock up on Potentially Popular Items – the last thing you want to do is run out of your most popular merchandise before the season even begins. Look at your recent purchase history to see what the “hot” item(s) have been. It wouldn’t hurt to look at past holiday purchase history to see how they compare.
- Extend your Hours – if you have staff available you may want to stay open later to give customers more time to make it to your location and give them more time to browse and spend!
- Partner Up – if you host a sip and shop event you can promote the Wine and Cheese shop that you utilized for your items. In turn, they can promote your business. This is a great way to build great relationships with other small businesses in your area and create a sense of community.
Listed below are a few of the brands (and there are many), that offer co-op funding for items such as jewelry, clothing, and appliances. For your “mom and pop” customers selling brand name products – now is the perfect time to promote them, while using co-op funds.
Brand Name – Product/Service – High-Level Guidelines
- Tacori – Jewelry
Accrual fund is anywhere from 3 to 10% dependent on Partner Level and based on prior year’s purchases. Reimbursement is 50% for traditional/digital advertising.
- Hearts on Fire – Jewelry
Minimum prior year purchases of $100,000 to be eligible. Accrual rate is determined individually with brand. Reimbursement is 50% for traditional/digital advertising.
- Wrangler Wear – Clothing
Accrual fund is 2% of current year’s purchases. Reimbursement is 50 – 100% based on media type purchased.
- Haggar Clothing Company – Men’s Clothing Accrual fund is 1.5% of current year’s purchases. Reimbursement is 50% for Traditional Media advertising.
- Whirlpool Corp. – KitchenAid – Kitchen & Home Appliances
Accrual funds vary and are earned on current year’s purchases. Reimbursement ranges from 50 – 100% based on media type purchased.
- Electrolux Major Appliances – North America – Electrolux – Major Appliances
Co-op funding is available, but dealers must speak to their Electrolux/Frigidaire sales rep.
To find out more about our Co>Op Connect database and our Co-op Concierge Services contact us at 866-583-5397 or email [email protected] or [email protected] for more information.
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