Tips to Prepare Retailers for the Holiday Season
The year-end months of November and December are typically dominated by shoppers scouring stores for deals and discounts on holiday gift purchases. This surge in holiday spend can make up for as much as a fifth of merchants’ annual sales.
Retailers should prepare for the all-important fourth quarter that can make them profitable for an entire year. Here are a few tips that can be followed to make the holiday season run smoother and become even more profitable for merchants.
Order Holiday Merchandise in Advance
It is critical at this time of year to have available stock for consumers. Ordering it early means it has a better chance of being available at the right time.
Make Room for Holiday Stock
Clean out and organize the backroom of the store to accommodate more goods. If necessary, rent out storage space for overflow product.
Adjust Store Hours
Keeping a store open longer accommodates shoppers who cannot make it during regular business hours. The longer hours ensure customers can shop in their own time frame and keeps a retailer competitive with others.
Hire & Train New Staff Now
For more Point of Sale or back room help, get the word out early on Indeed or advertise by putting a “Help Wanted” sign in the storefront window. Once staff is hired, train them immediately to ensure a smooth experience for the business and the customer.
Advertise Early & Offer Promotions
Advertise deals on social media on as many sites as possible to make shoppers aware of BOGO, discounts, or freebee opportunities that may draw in more customers.
Expand Payment Options & Update Website
Shoppers are more likely to buy items when they can pay with their preferred payment method, like mobile and digital wallets, credit cards, contactless in-store, or via a website. Making the payment experience frictionless across all channels will net more profits.
Decorate The Store
Update the store to reflect the items that are being sold. Make it authentic and inviting like decorating a home for the holidays whether its Halloween, Thanksgiving, or Christmas.
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