Now that the holidays are approaching, it is time for small businesses to make the proper preparations. This time of year can be especially hectic and it behooves you to prepare yourself accordingly. Let’s take a closer look at the six best ways to prepare your retail business for the busy holiday season.
1. Learn From Last Year’s Successes and Mistakes
Take the time to go over last year’s sales data, so that you can find out which items were your highest sellers and which items were least popular. Were there any promotions that your competitors came up with that you wish you had used? What were your biggest marketing channels? Being able to confidently answer these questions goes a long way towards enhancing your business’ holiday readiness.
2. Create Special Offers
Specialized holiday offers are a splendid way to spur increased customer engagement during the holiday season and since holiday season sales tend to account for at least a third of your yearly sales, it is in your best interests to devise a great promotion. The customer is never more ready to buy than they are during the holiday season and the right promotion can make or break your annual sales figures.
3. Prioritize The Correct Marketing Channels
A small business does not have the marketing budget to spend needlessly, they need to make sure that every dollar is delivering the appropriate return on its investment. Don’t make the mistake of trying to be everything to everyone, choose the marketing channels that have delivered for you in the past and stick with them. This is not the time to make any sudden alterations to a winning formula.
The customer tends to respond best to visual stimulation and by decorating your business, you can show them just how festive you are feeling and create an authentic holiday experience. Be sure to choose decor that matches the design aesthetic that you have already established and don’t be afraid to head to Pinterest for design ideas.
5. Participate In Major Shopping Days
There are a number of major shopping days that take place throughout the holiday season and for small businesses, there are two of special importance: Black Friday and Small Business Saturday. If you do not participate in these special days, a sizable amount of potential business could decide to go elsewhere, so be ready to join in and strengthen your relationship with the local community.
6. Develop a Long Term Strategy
While the holiday season is usually the most profitable, it is important to use the season as a springboard to long term viability. Offering your customers the opportunity to provide feedback about your goods and services is a helpful way to learn new information that can be applied to future promotions and sales tactics.