Every year in retail, we look forward to what the festive season might bring. With Black Friday and Christmas around the corner, we hope you have started preparing your business for the festive season so that you can reap the rewards.
As a business owner, you should put yourself in a position where you are fully prepared for the festive season. To do this effectively, we suggest you review and analyze any hiccups that may have occurred last year, including any shipping issues and hours of operation.
Here are some quick tips to help get you planning for the festive season ahead:
- Determine your holiday operating hours.
What will your operating hours be this year? Will your business be open longer than usual for clients, or do you plan on closing for a few days? To help prepare for this, ask your employees to request holiday time off early so you can pre-plan any schedules you may need. Remember to keep your staff and customers informed of your operating hours over the festive season.
- Stock up on extra inventory.
There is nothing worse than running out of your best-selling products and having to turn away customers. Try and estimate the number of supplies you may need for the holiday sales. A good way of doing this is by checking last year's data and analyzing it.
- Update your eCommerce website.
With the massive increase in online sales seen since Covid 19 hit, it is more important than ever to make sure your website is up to date with the latest information, including any holiday specials, pricing, and quantities available.
- Stay organized
During this peak period, you have to stay organized. Take a step back and see what you can do to keep on top of all your to-do lists. A brick-and-mortar store involves ensuring the store is clean and holiday-ready, stock take has been fulfilled, and any additional schedules for your staff have been sorted.
- Decorate your store for the festive season
Make sure you have the festive cheer, whether at your physical retail store or your online store. During these challenging times, simple decorations in your store or online can bring your shopping experience up a notch for your customers.
Think about:
- Using a string of lights around the pay section In-store
- Using seasonal colours
- Put Santa hats on employees and use in-store promotions according to the festive season
- Update your online store with festive designs and graphics
- Have a creative holiday marketing strategy
This time of year often increases engagement with promotions and competitions. Be creative with your holiday promotions and do something different to attract new customers.
Some quick ideas are:
- 12 days of X
- Holiday Giveaway
- Virtual Advent Calendar with specials
- 2022 rewind
- Provide top-quality customer service
With the increase in foot traffic, in-store and online, your customer support team should be ready to address any issues that may arise. By ensuring a seamless customer journey, from browsing to checkout to returns, your customers will be tempted to spend at your store again and review your store higher.
- Secure enough capital
During the festive season, you may need to have more funds accessible to increase your inventory, hire new staff and set up promotions or holiday displays. If you don't have enough cash on hand to give the season your best, talk to a trusted lender like Cash Flow Capital. We can assist with securing a short-term business loan with quick turnaround times, flexible repayment terms, and no collateral.
Be prepared, have fun and have a successful festive season.
