With gentle nudging, you can help ensure stockings (and your bottom line) overflow with sweetness this holiday season! Stockings stuffers are the ultimate impulse purchase, representing the opportunity to add a few extra dollars to in-store and online purchases. In this week’s post, we’re exploring two key components that make for great stocking stuffers and how to increase sales with effective marketing and merchandising.
Price
In
a report by Field Agent, 51% of survey
respondents spent between $10-25 per stocking, while 24% spend between $26-50 each.
This emphasizes the importance of identifying
more inexpensive gifts. We recommend identifying gift ideas in 3 pricing tiers
to appeal to different budgets, ranging from low, middle range to high. Select
a range that best fits your prices, but an example would be $5 and under,
$6-$10 and $10 and up.
While stocking stuffers are typically small and inexpensive, don’t shy away from items with a higher price point. As the saying goes “the best things come in small packages.” Consumers may be more willing to spend more for gifts that will create more of an impact. While you don’t want all your stocking stuffer options to be pushing the price threshold, identifying a few items that are small, but mighty can create a real impact for both the gift giver and recipient.
Packaging
While
sticking to a general price range is important when identifying stocking
stuffers, the packaging (or size) of a product is pretty much
non-negotiable. Standard-size Christmas stockings range in length from 18 to 28
inches. With that said, by getting creative with your packaging you could
encourage customers to spend more. For example, you could sell a single individually
wrapped item ($) or you could sell multiple items packaged in a long, slender box (like pictured above) or small bag ($$$). Take notes from major candy brands like M&Ms that sell candy cane-shaped tubes for Christmas or Lindt's small bag of truffles.
Stocking stuffer display at Nordstrom's
Merchandising
While
scavenger hunts are fun and all, impulse purchases happen when shoppers aren’t
actually shopping for that product. Creating a well-marked display of stocking
stuffers near the front of the store or near check out will make it easier for
shoppers to find these products and increase the likelihood of them making a
purchase. As for online merchandising, consider creating a themed web-page with
a grouping of stocking stuffers, as well as social media posts to promote gift
ideas. You may have all the best stocking stuffers, but if you don’t help these
items stand out through marketing and merchandising efforts you will sadly miss
many sales opportunities during the holidays.
Even
if shoppers didn’t come to your store or website looking for stocking stuffers,
showcasing your stocking stuffers will increase the sale of these products. Additional
communication on social media, emails and on your website will also increase
sales. Stay tuned for next week's post when we share quick and easy ideas for stocking stuffers.
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