Preparing for Holiday Sales: What You Need to Know
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As the leaves begin to fall and the temperature dips, the seasonal market picks up. It's that time of year again: fourth-quarter sales. Bonuses are coming; Santa's list needs to be filled. This is the chance to make money.
With holiday ads beginning to emerge and decorations adorning store shelves, think about how much you've done to get ready. Have you found something to entice clientele? Have you thought about strategies? This is the time that may make or break a year's profits, so consider the following in preparation for your upcoming sales.
Market It
Don't overspend. You don't want to be stuck with boxes of merchandise in January. In fact, having to give deep discounts or write off materials is not a good way to end the fiscal year. Instead, invest in price analysis software. Maintain inventory lists, and allow the data to drive your future spending. Use this to determine how much you should purchase as well as a good price point for the belongings. It's not about having mass quantities. It's about investing wisely.
Advertise It
Find a focal point, and sell that to the community. Are you going to promote something special? Maybe you've found a great kid's toy or the perfect sweater. Putting in on a shelf is great, but getting clients in to see it is better. Get the word out through social media, making posts every few days for specials or sales. Show off your customer service, taking pictures of helping the community. Don't forget the local schools. Sometimes educational institutions may include you in signs or newsletters. Simply agree to provide a percentage of sales back to the establishment if the advertisement is mentioned or shown.
Theme It
Are you a small market store competing against a big box outfit? If so, you'll need to go that extra mile to encourage traffic. How can you do that? Do you plan on hosting events to get people through the doors? Host a winter theme day. During the event, teach people how to make the most of your products, and offer some tempting morsels such as hot chocolate, non-alcoholic cider, and sweet bites. Are you selling a product from a local or regional celebrity? Invite that person in to talk and sign items. Get creative. The more time customers wander about, the more they may buy.
The winter festivities are ripe for revenue. Sell your store and your products. Get the word out, and make it fun.