5 Things To Know About The Holiday Shopping Season

Posted by Karen Erdelac on Nov 4, 2022

5 Things To Know About The Holiday Shopping Season1.  What effect will inflation have on holiday shopping

According to the National Retail Federation's latest study, higher prices and inflation are top of mind for holiday shoppers. However, many consumers plan to prioritize holiday gifts and celebrations, even if it means cutting back in other areas or shopping early. The NRF's survey found that 44% of holiday shoppers say it's better to purchase gifts and other seasonal items now because they believe inflation will continue to impact prices later in the year.

2.  Is Black Friday still important? What about Small Business Saturday and Cyber Monday? Black Friday is still important to retailers, though it's less important as a single day and more important as a shopping milestone in the season. Consumer behavior has borne this out, with many shoppers preferring to spread their spending over the entire season rather than a single day. Retailers have adapted to ensure they meet consumers when and how they want to shop. 

Small Business Saturday is an annual holiday started by American Express in 2010 that encourages holiday shoppers to shop at local businesses. Small Business Saturday takes place on the Saturday following Thanksgiving. Shopping local matters because it affects the entire community. More money stays within the community when consumers spend more at local stores. For every dollar spent at a small business, 67 cents stays within your local economy.

Cyber Monday 2022 is still a way off. The online event doesn't take place until November 28 but Cyber Monday is still the most significant date in the annual sales calendar, with online spending routinely eclipsing even Black Friday. Even if your business doesn't have an online presence, it pays to develop a unique Cyber Monday promotion.

3.  Make sure you have a solid digital presence.

Start planning your holiday promotions and connecting with consumers via digital channels today. Check your website on various browsers and make sure it is mobile-ready. You want your customers to have a positive experience no matter how they view your shop online. In fact, "m-commerce" (i.e., mobile e-commerce) accounted for an estimated 45.9% of holiday online sales in 2021. So, mobile should definitely be part of your marketing mix for the holiday season and beyond.

4.  Gift Cards can take your holiday sales to new highs.

It's long known that gift cards provide an easy and effective way for restaurants and retailers to increase holiday sales. According to studies from last year's holiday season, businesses saw a double-digit increase in gift card sales. The good news is that gift card sales should grow by 9.5% in 2022. The key to success with gift card sales comes down to how effectively you promote them. Starting to plan for your holiday gift card promotions early gives you and your team plenty of time to build marketing strategies and promote your gift card options. Whether on your website or social media pages, in the store, at the checkout counter, or on an employee uniform, making your gift cards the center of attention is essential. 

5.  Time to get started.

Gift cards and related promotions can dramatically increase your revenue during the holidays and into the new year. You don't want to miss out on potential revenue, so you should be proactive in planning and ordering enough gift cards to last through the end of the year. If you need funding to implement your gift card strategy or other holiday promotions, Quikstone Capital can help. 

Founded in 2005, Quikstone has helped thousands of merchants grow their businesses with easy, fast, and flexible working capital for all their business needs. You can use these funds for purchasing or upgrading your equipment, increasing inventory, or expanding or remodeling. If your business accepts credit cards, you could qualify for up to $250,000. There's a simple one-page application, and no collateral is needed. 

Let's make this your best holiday season ever. Contact Quikstone today! 

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