4 Steps to Prepare Your Business for Holiday Success

It is that time of year once more. Retail businesses already have Christmas decorations and products for the 2018 holiday season. And if this year’s Black Friday and Cyber Monday are anything like Amazon Prime Day was back in July, then merchants should start preparing for the holiday season… now.

Here are four steps that your business can take to ensure that you are prepared for the upcoming holiday shopping season:

1. Optimize Inventory Management

Ensure that your data and warehouse/inventory management systems are ready to support high transaction volumes. Make sure you have in-store analytics and intelligent shipping, and optimize shipping processes for location, labor, and costs. This will help your business optimize the customer experience and give you a leg up on your competition.

Look at sales from last year and use that number to gauge how much inventory you will need this holiday season. Stay in touch with your suppliers and vendors to make sure that they have everything you need, and then schedule delivery dates to ensure that you are stocked up with the appropriate items at the proper times.

2. Provide a Relevant Customer Experience

Enhance your website and mobile capabilities to boost personalization to inform customers of your recommendations and their preferences. This will increase the consumer’s purchase confidence which will lead to increased conversion rates, fewer returns, and increased customer satisfaction.

3. Accommodate Customer Needs with Technology

The main concern for consumers during the holiday season is whether their shipments will arrive on time or be delayed. Use API technology to track inventory and shipping processes and to optimize your shipping models. API technology can also help your business manage costs through expanded carrier selection and sophisticated tracking.

These cloud-based solutions are easy to integrate with your existing business systems and have little disruption to daily operations. Shoot for the first week in November to have all systems updated so your business is ready for the launch of the holiday season on Black Friday.

4. Protect Your Business and Customers from Fraudsters

Ensure that you are purchasing items from secure websites that will protect your business’s information. To prevent credit card chargebacks, make sure you have a clear return policy, respond quickly to customer questions regarding purchases, and ensure your payment descriptor clearly identifies your business.

Following these four steps will help your business be prepared for the hustle and bustle of the impending holiday season while making your customers happy and generating revenue for your bottom line.

Is Your Business Ready for the 2018 Holiday Season?

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