The holidays come fast, especially when you work in retail. Make sure you are properly stocked up in time for those holiday shoppers, and that you are taking all the right steps to mark your products. This is where an investment in your business will only serve to benefit you. Imagine how you could make the most of the holiday shopping season with a business loan of $100,000 or up to $5 million?
To capture consumer demand and avoid supply chain mishaps, calculate how much money to allocate to holiday inventory by reviewing sales numbers from prior years and carefully consider this year’s predicted consumer habit of shopping before peak season. Err on the side of buying your bestsellers earlier—and in smaller, risk-averse quantities—to account for both demand and potentially irregular lead times.
It’s also worthwhile to ensure your online presence offers information about your business and how you got started. With more customers looking to shop small and support businesses that reflect their values, providing an origin story on your website is a great way to appeal to new customers.
Gift guides can be a powerful sales tool this time of year, especially since 90% of North American consumers are willing to try new brands during the holiday season. This appetite for discovery allows you the opportunity to surprise and delight customers by introducing them to unique gifts from your store. One easy way to showcase these products is by putting together a holiday gift guide.
To determine how to categorize your holiday gift guides, consider your target customer. Think about who they’re shopping for and what values are important to them. Then, factor in your holiday inventory strategy. Your holiday gift guides don’t have to consist of completely new, holiday-specific products. Instead, they can be curated in a way that best fits your catalog of products.
A great way to engage new customers and build strong relationships with repeat customers is email marketing, which can be another valuable tool in building your business’s online presence. If you haven’t yet, find a way to collect email addresses from your customers, whether it’s a sign-up sheet at your store or a form on your website. Templates can be a huge time-saver, and it’s easier than you think to master the nuances of what kinds of emails to send. Emailing your patrons regularly keeps your business top of mind and is an easy way to drive traffic straight to your e-commerce site. It’s also another avenue to advertise any current sales or curated holiday collections.
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