The holiday season is just around the corner, and it’s often the best time of the year to get together and enjoy quality time with friends and family, and of course, spend a significant amount of money on gifts. In 2018 alone, the average U.S. household spent $1,536 during the holiday period. This means that retailers need to prepare for the Christmas season by stocking up on goods, hiring temporary employees, and planning sales strategies.
With the help of retail business loans, here are six tips that will help you increase sales and prepare for the holiday rush.
1. Advertise Your Retail Store
Advertising your retail company is one of the easiest ways to cash in on increased holiday sales, and fortunately, there are many cost-effective ways to advertise your business. For instance, you can tweak your website, newsletters, social media accounts, and blog posts to keep in line with the holiday season.
For instance, you can update your website and feature your holiday collection or other goods and services you want to promote. You can include high-quality pictures, along with the complete information on the Christmas sales you’re going to have. Additionally, you can write blogs about special holiday products or tips and tricks on how to shop during the Christmas season.
2. Create Gift Guides for Easier Holiday Shopping
Placing gift guides around your store can also increase your sales because many people don’t have time to scout for unique gifts on their own. You can place headlines on different products, such as:
- “Perfect for the college student.”
- “For the new mom.”
- “For the grandparents.”
- “Gift ideas for dad.”
It’s better if you can curate your entire store and make it more Instagrammable. Make sure to get into details when you write product descriptions and describe your products. In this way, your customers can easily fulfill their entire Christmas shopping in your store.
3. Decorate Your Store for the Holidays
One way to prepare for the holidays is to decorate your store. You’ve probably done this every year, so bring out your holiday decorations and check if anything is faded or damaged. As you replace old décor with newer ones, make sure to consider the lights, colors of the season (blue + white + silver; green + brown; or white + gold), as well as Christmas signage. Pay attention to your window displays because they are the first thing people see when they pass by your store. If you operate online, be sure you change the web design as well.
4. Train Your Employees and Hire Temporary Ones if Necessary
The holiday season tends to get really busy for retailers. With more people coming in and out of your store, your employees may need a little refresher when it comes to engaging with customers. There are three important factors you will want to focus on:
- Effective ways to sell your products.
- Spotting shoplifting behaviors.
- Engaging with different types of customers.
During the Christmas season, you’ll need all the help you can get. However, hiring more employees can be costly, so it’s probably best you hire temporary employees to help you out. It’s going to be worth the investment since the more customers you cater, the more sales you will make.
5. Stock Up on Inventory
One way to prepare for the holiday season is to stock up on inventory. It’s important to strike a balance between too little or too much inventory. If you expect potential customers to roll in and make holiday purchases, you need to know which products to stock.
6. Set Up an Online Shop for Your Retail Business
While some people prefer to shop in-store, many people would rather do their Christmas shopping in the comfort of their own homes. If you don’t have an online shop for your retail company, it’s time to make it happen. With an online store, you’ll be able to expand your reach and generate more sales for your business.
Prepare Your Business for the Holiday Season with Retail Business Loans
Increasing sales and preparing for the holiday rush doesn’t come cheap. If you’re wondering how you can pull this off financially, you can apply for retail business loans. SMB Compass offers small business loans to retailers across the United States.
If you want to know more about our offer, simply call us today at (888) 853-8922 or email us at email@example.com to set up a FREE, no-obligation appointment with our financial experts.