Are you interested in driving more foot traffic to your liquor store?
In recent years, owners and managers have doubled down on their investments in promotional items. And for good reason! According to recent reports, 72 percent of consumers have a higher opinion of liquor shops that offer promotional items.
This begs the question – what promotional tactics should your shop invest in?
Thanks to our years of experience working with a broad range of clients in various industries — liquor stores included — we’ve identified some of the top promotional ideas that your liquor store can get up and running. After reading this article, you’ll have an in-depth understanding of the industry’s best promotion ideas that you can swipe to form your next big marketing or sales campaign.
3 Top Liquor Store Promotional Ideas in 2021
We know that sales promotions are the perennial favorites when it comes to liquor store promotional ideas. But what about the promotional tactics that drive increased traffic?
“In light of the COVID-19 pandemic, online shopping has become the preferred shopping method for many consumers and has greatly impacted the overall retail customer experience,” reported Quadient in How to Increase Foot Traffic in a Retail Store. “As such, increasing repeat customer foot traffic in-store has become a necessity for every brick-and-mortar retailer or local business.”
Try out the three liquor store promotional ideas on our list and watch curious prospects turn into regular customers.
1. Run Killer Seasonal Promotions
As a best practice, make sure that new buyers and loyal customers are consistently delighted, intrigued, and surprised by what you have to offer. Of course, be sure to check in with local and federal laws regarding liquor store promotions.
The easiest way to create happy customers is to run a seasonal promotions calendar. The key here is to plan ahead. For example, start planning summer campaigns in the winter months. When applicable, use in-store signage, flyers, and displays.
According to recent research, consumers tend to purchase more alcohol during the holidays. Take advantage of that growing interest and harness it into sales through powerful holiday promotions. The very best liquor store point of sale systems make it super easy and intuitive to track which items sell the best during the holidays.
2. Host Sampling Events
We all love ‘try it before you buy it’ opportunities. Offering free samples gives new customers a chance to try your products and get to know your brand better in the process. In addition, this can be a way to push the sale of new-in-stock items or sell out products or brands that aren’t getting enough attention.
Make sure to keep portion sizes small and check IDs regularly. In most states, giving away free samples of alcohol is prohibited; however, in some areas, offering a small sample (1 oz or less) for an equivalently small price is acceptable.
Check in with local and state regulatory agencies before launching this kind of event. Make sure to limit one sample per customer to protect your bottom line and ensure no one gets visibly intoxicated on-premises.
For this kind of event to work, assign your friendliest, most engaging salespeople to the promotional tables or areas so that those samples actually turn into sales. As long as you strictly adhere to federal regulations around advertising or marketing alcohol, these sampling events can be a great success sales-wise.
Here are a few tried and true sampling techniques:
Weekend Cocktail Mixer - This kind of event can be used to sell liquor along with a recommended mixer product. Give your sampling customers options by bundling the items together for a discount or selling them separately. Display the items used in the mixed drinks prominently and use in-store signage to alert shoppers to the event and items being promoted.
Wine & Food Pairing - This kind of event is a hit with all age brackets (over the age of 21, of course). You can pair wines with recommended bar snacks for sale (like dried fruit, crackers, or nuts) or serve actual small hors d'oeuvres with small samples of wine. Some liquor stores host these kinds of events weekly as well.
Mixology Classes - Offering mixology classes is a great way to promote your new liquor store business. If you have team members who can act as “mixologists,” or you can partner with bartenders from a local bar, using their skills to host virtual or in-person mixology sessions can be a fantastic promotional draw for new customers.
3. Offer Bundled Discounts
Price bundling and bundled discounts will help to drive increased sales to your liquor store. This method is an effective promotional strategy because bundling simplifies buying experiences and can potentially increase average order values through the combination of high-value and low-value products.
These are the four types of bundling discounts:
- Pure Bundling: Customers purchase the bundle as-is or not at all.
- Joint Bundling: Customers purchase two or more products together for a single price that can only be obtained through a single purchase.
- Leader Bundling: One of the bundled items is more valuable than the other.
- Mixed Bundling: Customers have the option to purchase each item together or individually for a higher price.
An example of an effective liquor store bundling promotion is to offer a “build your own six-pack of craft beer or pick any three bottles of wine and get 10% off the total” (mixed bundling) discount. Bundling typically increases unit sales volume, lowers the cost of goods sold, and increases your profit margins which are all significant advantages for new liquor stores.
How to Increase Your New Liquor Store Profits in 2021
The simple truth is that promotional sales strategies work. By getting potential customers to sample your products, notice your business, or participate in an event, you’ll be effectively creating a memorable buying experience that can fuel word-of-mouth marketing and industry reputation. It’s a win-win!
However, to stay ahead of the competition and continue to grow your new liquor store business, it’s essential to make sure you’re not just staying ahead of trends but tangibly distinguishing your business from your competitors. What makes your business different? How are you planning for growth this year?
If you want to skyrocket your liquor store profits this year, make sure to check out our free webinar on this topic. You will learn about the newest technology available for liquor business owners, the business challenges that could be costing you, how to stay ahead of the competition, and more.
We build our POS software systems designed for liquor stores, and we created this webinar as a free resource for new and existing liquor store owners (like yourself) to help you learn how to increase your profits in the future.