Stores loose money on Boxing Day sales?

[Lampshade]

Originally Posted by MarkoD

Boxing day isn't for making money. It's for building brand awareness and brand loyalty. So that the customers that you satisfied on boxing day will come back many times over the following year

if i had a store of any kind, i'd sell everything at cost on boxing day. take as many customers as possible from the competition.

The only part against this is that there's little competition on boxing day. It's not like the futureshop/visions, etc that have one every block. Pretty much everyone in the lower mainland was at JL's or King ed's, then headed to either OA or OC. So as long as you're not out to lunch on terrible prices, a 10% off would draw people in just as much as a 20%+. This boxing day i spent a couple hundred bucks on random crap, and figured I'd saved about $40, definitely staying home and shopping online next year.

[MarkoD]

Originally Posted by Lampshade

The only part against this is that there's little competition on boxing day. It's not like the futureshop/visions, etc that have one every block. Pretty much everyone in the lower mainland was at JL's or King ed's, then headed to either OA or OC. So as long as you're not out to lunch on terrible prices, a 10% off would draw people in just as much as a 20%+. This boxing day i spent a couple hundred bucks on random crap, and figured I'd saved about $40, definitely staying home and shopping online next year.

But stores should be completely for customer loyalty. There's about 6 LFS in Edmonton and I basically deal with one of them now. A year ago I would spend a whole day driving around to all of them trying to find one I liked and trusted