The beginning of the new year brings with it a wave of exceptional promotions and discounts in stores, challenging the common perception that January is a month of less commercial activity. Despite the supposed post-holiday slowdown, sales strategies with discounts of 50%, 60% and up to 70% have taken center stage in stores of all categories, becoming the preferred tactic to stimulate sales.
The end-of-year period, marked by holidays such as Christmas and the associated additional income, traditionally drives household spending. However, January could be considered a month of lower commercial movement due to the accumulated spending in December or the perception of lower purchasing needs. To counteract this trend, stores have chosen to offer significant discounts, generating unique opportunities that attract consumers who, although they are not actively looking to make purchases, reconsider their decision when faced with tempting offers.
The strategy has been successful for some businesses, managing to maintain the positive dynamics of December and reaching sales quotas that even exceed 100%, reaching up to 120%, according to Liliana Santoro Díaz, general manager of the Outlet Factory shopping center in Bogotá.
At the beginning of 2024, a consumer report from the National University reveals that, of every 10 advertisements in businesses in Bogotá, Medellín and Cali, at least six stand out with messages of “60% and up to 70% discount”, beginning to the auctions at the beginning of the year. It is estimated that the sales season generates an economic movement of up to $1.5 trillion.
You may be interested in: Adjustments to housing subsidies with the new minimum wage for 2024
Several shopping centers have confirmed that during the first days of January, consumers have begun to take advantage of promotions, anticipating the discount dynamics characteristic of the first months of the year. Daniel López, from the Titán Plaza shopping center, announced discounts of up to 70% in all categories, expecting approximately three million visitors during January.
This season’s discounts not only seek to boost commerce at a time of lower spending, but also serve as a strategy to liquidate accumulated inventories from last year and products from the holiday season that are still in stock. For many businesses, January represents a last opportunity to market products from various categories that were not sold in 2023, before the arrival of new inventories in the coming seasons of the year.
In some shopping centers specializing in discounts, the sales season extends until February, maintaining maximum discounts of 70%. In addition, additional promotions have been announced, such as the “outlet outlet” at the Outlet Factory, where even more significant discounts are expected. According to Liliana Santoro Díaz, general manager of the Outlet Factory, “during January and February, brands will activate their sales with special promotions and an Outlet Factory tent.”
You can read: December failed to save business sales in 2023