It’s that time of year where we’re all scrambling to get ready for the Christmas onslaught, and no other industry gets quite as slammed over Christmas trading than retail outlets.
From last-minute gift shopping to opportunistic bargain hunters, the holiday and sales period is one of the most stressful and profitable for the retail sector. But with so much competition for consumer dollars, how can you do more to stand out and maximise your sales this Christmas?
Invest in click-and-collect systems for busy shoppers
There is a reason click-and-collect has taken off in the US and Europe. It’s convenient and cheaper for shoppers who can buy online and avoid delivery delays and charges. It’s also a great opportunity for retailers to create extra foot traffic and avoid the additional resources required for picking, packing and posting online orders.
To get started with click and collect you’ll need to have an online purchasing platform and click and collect plugin built into your website. If you don’t have one already invest some money and get a professional to set it up for you. There are plenty of eCommerce specialists out there who will be able to get you set up in no time. If you don’t have the funds to invest in eCommerce right now a loan from OnDeck could be a great way to add the assets in time for Christmas with no repayments until 2020, so you can reap the benefits and maintain steady cash flow.
Don’t forget to promote it
Once you’re up and running with click-and-collect make sure you promote the new service to your existing customers and on your social media platforms. The convenience will be a quick win for loyal shoppers, and a big drawcard for prospective customers looking for quick shopping options.
Capitalise on your foot traffic with quality visual merchandising and POS displays
If you’re in retail you’ll know the power of an appealing visual merchandising display. But once the crazy season hits and your foot traffic is increasing it can be hard to find the time and mental space to put thought into planning and executing effective visual merchandising displays.
Contracting a visual merchandising specialist for the holiday and sale seasons can help take the hassle out of planning and creating great displays, and guarantee your shoppers will be met with your best product.
Diversify your product
In such an intensely competitive period it’s essential you’ve got your A-game on when it comes to a quality product for the Christmas season. Far too many retailers forget to freshen up their product range and instead bank on their customers staying loyal.
By diversifying and refreshing your product range you can improve your offering to your existing customers. It’s also a great way to test new brands and ranges over a busy season when you’re more likely to move stock.
If you don’t have the liquid capital right now to increase your range or diversify your brands consider flexible financing to purchase now to get you set up for the season.
Hire skilled Christmas casuals
Perhaps the biggest investment you can make is in your service, after all, that’s your business. Hiring skilled Christmas casuals to take to the floor is essential for any retail owner wanting to maximise the opportunity for profit over the holiday period.
Not only can skilled retail assistants increase your average sale amount and convert more sales, but they also help free up your time so you can be more flexible and strategic with your time, and help you avoid working unreasonably long days.
Invest in marketing
Now is not the time to hold back with investment in marketing, so select a few key channels that will help you connect with your customer base and invest some money into creative campaigns. Not every marketing channel will suit every business, so consider contacting a consultant to help you create a plan. Some channels to explore include:
- Paid social media
- Google Ads
- Window decal
- Signage
- Print ads in relevant magazines or local newspapers
- Influencer partnerships
If you want to do more to help your retail business succeed this Christmas season but don’t have the funds to invest right talk to OnDeck about a flexible business loan with no repayments until January 2020. Call us on 1800 676 652 or submit an enquiry and make the first move to funding your success.
