Before you know it, Christmas will be here. Preparations for your business to capitalise on the season’s opportunities should already be in high gear. Despite economic challenges, Christmas inevitably brings additional disposable income to purchase gifts, prepare the family feast and undertake home repair projects; among many other activities.
For many businesses, particularly those involved in trading, Christmas is the busiest time of the year. Among other things, businesses rely on the festive spirit of the season, the increased goodwill and the general buzz of excitement surrounding giving and sharing particularly with friends, family, colleagues and social giving.
Christmas is all about preparation; it is peak time for everyone and businesses must be prepared well in advance to draw on opportunities to earn a profit. Here is a list of tips that will help to make your business a success this holiday season.
Manage Stock Levels
The last thing that should happen is that your business runs out of stock during Christmas. Decide what to stock from early. Look at sales trends; stock up on what sold well last Christmas, as well as current trends. Review the stock management processes to maximise stock accuracy and adequacy. Having a pre-Christmas sale is a good way to get rid of old, irrelevant stock, making room for new items. Be careful, however, not to over stock to a point where your cash flow and resources are stretched too far.
Get into the Holiday spirit
Whether you are prepared or not, Christmas is coming. It will be here sooner rather than later so get yourself and your business in the holiday spirit. Dress your staff in Christmas gear, put up the Christmas tree and decorations, and turn up the holiday music, sending your customers two main messages: Christmas is coming and you are ready for it. Your holiday spirit can also lure them into your business place. Consider offering gift wrapping services or sending gifts “From Santa”.
Adjust your marketing programme
Roll out the Christmas ads and commercials, announce your Christmas campaign and integrate your online and offline portals to ensure it is sending one strong, solid message. Use up all available marketing platforms to keep your customers informed.
Offer Promotions and Holiday Sales
Make the most of your marketing programme by offering promotions and holiday sales. Sales and promotions are marketing staples for the holiday season. Shoppers are looking for the best deals for their holiday shopping, so offer incentives to get them into your store. This could mean more sales.
Secure Cash Handling
Having prepared for the financial returns of Christmas, plan to secure those funds. Particularly now when most shoppers are opting to use direct payment methods such as debit and credit cards, businesses should invest in a point of sale system. As much as possible, clear the excess cash from the register and lock it away; keep the largest notes in the furthest compartment of the register, out of customers’ sight. Count all cash in a secure room and use professional cash collection services if your business handles a large volume of cash. Also, post additional security officers in your location to give customers and staff peace of mind.
To continue reading, purchase Vol.8 #9, 2016 Issue.