Christmas, and its run-up, is always going to be a busy time of the retail year as people are searching high and low for the perfect gifts for their loved ones. Whether it’s a piece of jewellery, a holiday or a purchased experience to drive a Ferrari – there’s a guaranteed market and there are going to be customers looking to spend their money with you. It’s important to harness their interest as far ahead of time as you can,after all – you need to catch onto the natural, festive season, shopping enthusiasm to maximise your profits. For most businesses, the profit they make in the last couple of months of the year is a substantial part of their overall annual sales, sitting between 20-40% of the total. Therefore, pouring time and effort into festive sales to put you in a stronger position as trade tails off after the New Year isthe secret to surviving the leaner months, ensuring that you maximise sales and profits during the peak times.
Here are a few key suggestions on how to go about making your winter retail figures hit the high notes:
Grit your teeth and start advertising Christmas bargains early. It may go against the grain, but the facts are that the longer Christmas-orientated products are around, the longer customers have to buy them. This also allows consumers to spread the cost of their Christmas over as long as possible time period.
If you have a shop window to dress, do it carefully and with your target market in mind. Will it be tasteful, chic and thoughtful?Or will your customers would prefer a bolder approach of suggestive slogans on tight t-shirts? Dressing a window well will always pull in more customers. It’s the groundwork that underpins selling success.
And speaking of slogans, they can be an important marketing tool. Use them to generate more sales from unsure, or indecisive customers: ‘50% off until the 1st of November!’, ‘Order now for guaranteed delivery before Christmas’, ‘Buy one get one half price on all clothing until 21st December’.
If you have an online business, or a substantial subsection of your business to do online, then the Christmas period can be very profitable if nurtured properly. Staying within the data laws, use your customer database to get the details out there – the what, where, when and why they should be buying your products. Tell them about these bargains you’re offering and how they can catch them. Send out amarketing email every week, rather than every two, so your brand name is a familiar sight in the inbox of your customers.
And don’t forget your social media. Promote your business on every online platform that you can to create a strong brand image and encourage those customers through your door. Promote reviews, ask satisfied consumers for feedback and to give you a rating; good recommendations from those who have bought previously are a strong persuading factor.