While the movie industry was possibly the first to really address the issue, Tuesday has long been considered the slowest day of the week for retailers in general. It’s a natural ebb in the business cycle. By offering cheap tickets only on Tuesdays, the movie theatres were able to turn a slow night into a profitable one, appealing to those on a budget. They figured out how to encourage the flow.
It’s the key to successful trading – acknowledging the factors which are negatively influencing the sales outcome, while capitalising on any opportunities.
At this point in the business sale cycle, supply is beginning to rise. Vendors are looking to take advantage of good economic conditions. With so many new accommodation properties coming on the market and bank finance harder to get, there are indications that the market will become more difficult.
On the other hand, there’s a seasonal factor that brings opportunity, for both sellers and buyers. At this time of year, there are always buyers who want to purchase. And despite the increased supply, their motivation to act will still be high – provided the price is right.
There are now just a few days until the market effectively closes for the extended December/January break. We would suggest to vendors that in the face of increasing choice for buyers, getting the price right is critical. This in turn will create more appeal to those who will look to find somewhere early in the New Year.
Deal with the ebb but encourage the flow.
We would like to take this opportunity to wish you and your family a very merry Christmas, and a safe and happy new year.
All the best