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Just in time for summer fun in the sun, the U.S. federal government is issuing a tax rebate for most middle and low income Americans. Married couples receive the most at $1,200 dollars with a $300 dollar addendum per child. Individual tax filers receive $600 dollars, and even those without a tax burden due to lack of income will receive up to $300 dollars in relief. Either way, it sums up to a considerable amount of disposable income available to resuscitate an economy seemingly short of breath. Wholesale retail business owners should be planning now how to entice consumers to spend the rebate check in their store.
Competition will be fierce for a piece of economic stimulus package pie. After all, this bail out is directly the result of a credit system in crisis from overextension of subprime lending. Too many American families are facing mounting piles of debt, and possibly the foreclosure of their home. Surveys of taxpayers show the expected uses of the tax rebate to be paying a bill/debt, beefing up a meager or depleted savings account, and spending it on a large item purchase. Here are a few ways to entice taxpayers to use it in the later use, and not the two former ones.
Encourage a "Summer Bonus" sale!
Highlight overstock summer sporting equipment, discount theme park passes, and wholesale outdoor furniture. Any of these items would be ordinarily classified as "wants," and now they can be reorganized as "haves."
Jump on the Back-to-School Bandwagon!
$300 per kid is a nice budget for back-to-school needs. These include wholesale children's apparel, and liquidated office supplies. Checks arrive in May, perfect timing for an end of the school year blowout in preparation for next year.
Home Theater Extravaganza!
Tell your customers to beat the heat with sizzling deals on wholesale electronics and home theater accessories. A tight budget through the year will force many families to spend evenings and weekends at home, so this may be an "investment" in future fun they shouldn't miss.
New Wardrobe at Warp Speed!
Wholesale clothing apparel for adults can be a great reminder it's time to update the wardrobe. As customers age, replacing outmoded fashions is not high on the priority list. A simple sales flier refresher might just bring a couple hundred dollars from Uncle Sam your way.
For less focused advertising efforts, try a simple tax rebate special to entice foot traffic on a specific day or group of days. The entire goal of the economic stimulus package is to encourage Americans to spend more money in small businesses. The majority of wholesale retailers are small businesses, privately owned with less than 20 employees. Netting a few additional transactions over the months of May, June, and July of a couple hundred each could improve a sagging retail market. The key is finding the right niche advertising to remind customers of inventory you own that fits a "need." The need may not be a necessity, but simply a highly desirable wanted good or product. The money will be out there either way, and the only retailers who will see a dime are those who go after it.
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