This year, start planning for your Christmas sales bonanza in July. This leaves your retail store with a mere five months to plan out how you will meet your customers increased shopping needs. There are many avenues to explore when it comes to taking advantage of the increase in holiday sales. Do not forget to factor in the last week of December for a successful marketing strategy. According to Retail Next, last year the after Christmas selling days of December 26 and 27 boasted a 7.9 percent increase year-over-year in sales, on a 3.2 percent increase in traffic. With sales figures such as these, it makes financial sense to ensure that your plan does not stop on Christmas day. Marketing can be very expensive so make sure that you check out a merchant cash advance from a company like Quikstone Capital Solutions to get fast funding for your small business.
Additional Store Hours.
Most customers look forward to expanded holiday hours from their favorite stores. It is essential to remain open while your competitors are open! Do not lose a customer just because they cannot come in and shop. The last thing that you want is for them to spend their hard earned money elsewhere. Can your store afford to lose potential customers this holiday season? If the answer is no, make sure that your budget includes extra hours for your staff, potentially hiring new sales people and any additional costs you will incur such as leasing fees and increased utility charges.Extra Inventory.
Take a very close look at your sales figures. Notate which items are selling like hot cakes and which are barely moving. Expand on the types of items that your customers are likely to purchase. This is the time to make sure that your inventory if fully stocked and represents a wide variety of customers. You may want to order early to avoid any potential delays. Remember, other retailers are also looking at their inventory and want to be prepared this Christmas. You cannot afford to be outdone when it comes to presenting your customers with varied options.Prepare Christmas themed marketing materials.
This is a great opportunity to set yourself apart from competing retailers. Start a database for all of your current customers. Use it to send them marketing materials such as flyers and discount coupons. Choose a great holiday theme or hire an advertising executive to do the work on your behalf. Make sure that when your customers think of Christmas shopping, they think of coming into your store. This also allows you the freedom to make sure that the attitude of your store shines brightly. Remember to order attractive and expressive holiday décor for your store. This will entice new customers to come in and see what types of merchandise you have to offer.A Christmas stocking for your employees.
Christmas presents a great time to show your employees how thoughtful you are. Business Know How illustrates the importance of making sure that your employees feel valued and appreciated. Salary may attract people to a position but it rarely accounts for them keeping the position. To avoid high turnover, treat your sales staff so well that they would not want to leave and go elsewhere. Choose cute trinkets or go all out and buy something luxurious and expensive. It will be cheaper than training someone else to take over their position in the future.
