How to Entice Shoppers to Spend Their Tax Return At Your Business
Share
Posted by Aaron S. on March 6, 2019 in Retail Focus

If you want customers to spend their tax refunds at your business, you need to start reaching out to them now.  Keep in mind, people who know they will be getting a refund don’t wait until April 15 to file their taxes.  In fact, many already have that check in their hands and are looking for ways to spend it. There are several things your business can do to entice customers to spend their returns in your store. 

 

Listed below are a few ideas on how to accomplish that:

 

  • Offer special pricing to make tax returns go further and promote the idea of treating yourself. By offering promotional pricing, your customers will be more likely to spend their refunds with you because they will see it as an opportunity to get the most out of every dollar. Customers see their tax returns as money they have earned by working hard all year long, and that means they deserve to reward themselves. Promote the idea they are saving money and can afford to spend a little extra on themselves. 
  • Refresh your store’s look and feel. After the long winter, customers will be looking for something new and exciting. Spring is the perfect time to encourage action, as many people will be looking to update their wardrobes, complete home projects, and start fresh. This creates an opportunity to associate the spring season with tax season. By combining these two, you can relate the desire to start fresh with the potential of having a few extra dollars in your pocket. 
  • Offer tax preparation at your place of business. Partnering with a local tax preparer can be mutually beneficial. The tax professional gets a great space to work with their customers, and you get an opportunity to interact with a new customer base, sharing with them all the great things you have to offer. Convenience matters and if customers can complete this task while visiting your business, then they will likely view this timesaver as a positive experience and reward you with sales.  
  • "Reinvest your tax refund with us." Market the idea that spending money at your business is a way for customers to reinvest their tax refunds. During tax time, many people start thinking about personal finances and making investments. Purchasing certain items can be viewed as an investment, so take advantage of that concept. Specifically, products that improve homes, wardrobes, or personal health are often seen as investments in the future and purchasing those items can be a great way for customers to spend/invest tax refunds.  
  • Tax refunds make great down payments for big ticket items. When customers look to make a large purchase like an appliance or a grill, they may not have the ability to make the entire purchase all at once. In these cases, a down payment can be helpful. Promoting the idea that tax refunds can be a great down payment might be what your customers have been waiting for to finally make that big purchase.  

 

Tax season is a great opportunity to get creative with attracting customers. Many customers already have an idea of how they want to spend their tax refunds. Now is the time to put a plan into action that ensures when they go to make that purchase, they decide to spend their refund with you.

Aaron S. is our Retail guru
Aaron joined Acuity in 2017 as our Retail Specialist—bringing with him almost 30 years of experience in a broad range of retail. He started his career stocking shelves in the seasonal department at a local retailer. A few years later, Aaron transitioned to a gas station/convenience store, where he worked second shift while getting his degree in organizational communications from the University of Wisconsin-Eau Claire. It was during this time he made the move to the loss prevention and safety aspect of retail. Over the next 25 years, he worked in various retail segments, including video games, cosmetics/skincare, hardware/appliances, pharmacy/grocery, and clothing. Aaron held several positions during this time, including District Loss Prevention Manager, Regional Loss Prevention Manager, Regional Compliance Auditor, and National Manager of Loss Prevention and Operations. Outside work, Aaron likes to spend time with his wife (who has also worked in retail for over 20 years) and their twin teenage boys. They enjoy being outdoors on the water, fishing, and camping. As the Retail Specialist, Aaron’s goal is to enhance the partnership between retailers and Acuity by showing retailers that an insurance company can be a supportive resource and that Acuity truly understands their industry.


Get a quote today and Achieve Total Acuity
Posted By: Aaron S. on April 3, 2019 in Retail Focus
Customer satisfaction—what does that really mean? Over time, what satisfies a customer has shifted dramatically. Years ago, customers simply wanted a good product for a reasonable price and were willing to accept something close if they could get it right away.