July 4th Spending & Retailers
Ever wonder what the 4th of July holiday means for retailers? Visa took a look at consumer spending, finding that spending is up across the country. Northeasterners will spend the most, with the South and Midwest will spend the most on Fireworks. Westerners plan to spend a nearly identical amount overall to last year. Some key takeaways include:
- $300 is average amount Americans will spend on July 4th parties
- $1,161 is the average amount spent when traveling during the July 4th holiday
- $39 is expected average of money spent on fireworks from male buyers
While your store may not uniquely catering to the 4th of July holiday, it’s never too late to get in on some of this spending fun – and gain. Consider how your store can be engaged in the 4th of July holiday and consumer participation to maximize your share of their spending dollars.
No Fireworks? No Problem.
There are lots of other party favors, games, activities and more that customers planning to celebrate July 4th need. What fits in from your inventory assortment? Let your customers know now so they will stop by your store instead of some local giant retailer instead.
Countdown till the 4th
Beginning now or closer to July 4th, share historic news of the July 4th holiday on your social media platforms, post customer party planning ideas that link to your Pinterest page, encourage shares and comments from customers about their favorite 4th of July memories. Then offer an incentive in all your communication to get buyers back to your store! It can be as simple as “Every 4th item purchased gets you 10% off” or “4 items bought gets you a $10 store gift certificate”.
The Takeaway
Just because your store may not scream “4th of July” in it’s inventory doesn’t mean you should overlook this holiday – or any holiday. Be engaged in what your customer’s are, and the rewards will include more customers walking through your doors… even if it’s not for July 4th.
Photo Credit: Visa, courtesy of CRC Public Relations.
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