It’s been a turbulent year with a rising year, interest hikes, and uncertainty looming in households. Customers hold the strings of the purse tight. This is due to low income and high costs of essential and luxury items. If you can feel the pain, your retail store requires a quick refurbishment. Moreover, individuals get excited about the festive season. With Christmas approaching, you must seize the chance to attract customers and multiply your revenue gear.
However, most businesses skip a few things or more while preparing at the last moment. For example, not stocking up on the most selling item could mean losing customers. One must avoid such hiccups in businesses.
To ensure everything is in line, prepare your retail shop now. It will help you get the most footfalls, then. The blog lists the best ways to prepare your retail business for the festive season like Christmas and New Year.
6 Ways to gear up your store for Christmas
According to a trusted source, “ despite the economic stat and low finances, around 4.7 million shoppers plan to spend more than usual on Christmas shopping.” Thus, you share the huge opportunity to make a mark and double-up your sales with a blissful year-end. Here are some ways to prepare your retail store for Christmas and New Year celebrations:
Anticipate Demand and stock up
The most important part of the seasonal business is- anticipating the customer’s needs. What does a customer buy the most during this time of the year? Stock up on such products first. Sufficient stock will help initiate the business sales at the month’s beginning. Moreover, buy up stock only what you need. Stocking up more than the demand will lead to a mess and a vain expense. Identify the previous year’s sales and stock up accordingly.
Analyse the staff requirement
Knowing the customers and their demands will help you know staff needs. If yes, do so now. It will help you train them (if necessary). Moreover, they will operate things if they understand the task well.
Everything requires time, and so do the new hires. Grant them the needed exposure and check how they work. Additionally, check whether they can manage their workload easily. Having multiple hands help you with more time to concentrate on other business stuff.
Check extra shelves requirement or furniture
Identify whether you need to construct shelves or buy more racks to store the things. If yes, do so now. It will help you store things without mess. Moreover, if you need extra shelves, construct them now. Identify the total space and the things to store on shelves. It will help you decide on the right number of shelves.
However, most retail shop owners delay due to low financial flexibility or customers. Here, financial aspects like loans for Christmas celebrations may help. It will help you prepare your retail store for Christmas. From decoration to stocking up the store, you can use it hassle-free. Calculate the total amount you need and repay the loan. It will help you borrow right and manage things comfortably. However, you can use it only for purposes related to Christmas celebrations.
Offer discounts and offers
Promotions are one of the best ways to get shoppers interested. According to a survey, around 61% of customers say discounts and sales are more important than products when buying Christmas gifts.
Thus, analyse the best-selling items and the discounts you can provide on them. It will help you sell more of that item to individuals. Keep the quality of the product top-notch while doing so. It will help you improve the sales figures.
If you find it challenging to discount your products, check your competitors. It will help you know whether you can discount a product or a range of specific products for maximum benefit. Do not forget customers while doing so.
This is because customers get more savvy while shopping for the best deals. With more people buying up discounted items, capitalise on the opportunity. Identify the ways to make this discount offer lucrative for customers. Hang posters and banners revealing the discount. It should be visible well to the customers. Moreover, advertise the discounts through emails, pamphlets, or social media if you can.
Diversify or have multiple payment gateways
Last year, debit cards were the reason for around 3.9 million purchases. It is huge. It thus, expands your payment options from just cash and online payments. Provide other facilities like–debit cards, credit cards, etc.
Moreover, it will help you manage high sales volume effortlessly. According to research, “customers prefer to pay in cash and online payments the most.” Thus, you must channel your payment system accordingly. It will help you counter every customer and provide him with a comfortable payment mode.
Additionally, if you need capital to set up different payment sections, check financial facilities. It is ideal if you need urgent money now to reset or repair the payment gateway. You can get the money quickly for the purpose. It is the quickest way to handle any emergency without panic and delay.
Automate displays and pricing
Customers find it irritating to navigate through the contents of an item to find the price. It is time-consuming as well. Moreover, many customers leave the shop if they cannot spot the price in a jiffy. It is a primary concern and must be careful of this as a retail store owner. You can automate the displays and pricing structures for every product.
Additionally, keep the best-selling products on first and easily visible shelves. You can use Electronic Shelf Labels that help you with comprehensive product information. It is better than traditional price tags. Moreover, with ESL, you can reduce the staff liabilities. Automation saves you costs and manpower. It also helps answer quickly to a customer’s query.
As customers look for the best discounts and offers for Festive sales, hit their list. Businesses must make sure they buy from them. These tips may help you prepare your retail store for Christmas and the festive season. Entice your customers with irresistible offers. You can provide gift wrapping services or 40% discounts on customer-favourite products. Staff-up to manage things more smoothly.
if you want to prepare your retail store for a festival like Christmas, the blog may help. It lists the best ways to do so.