The holiday season is the most profitable in sales for the retail industry in the United States, if you are a business owner you need to be apart of that. To help you achieve your retail sales goals during this period, we have some tips for you from some of America’s best company owner, retail specialist and managers.
1-Have as much products as you can
You’ll want to have four to five times as much product as you expect in sales for the season.¬†Keep your backstock handy and your display fully stocked. Create the desire to buy with an abundance of product choices so your customers can each find something to buy that speaks to them.
Deborah Kravitz, Partner, Provenzano Resources, Inc
2. Give the impression of permanence.
As a holiday retailer, it’s especially important that you take steps to position your business as a permanent entity within the venue.¬†
An air of permanence will increase traffic as you start to become a “destination” as well as an “impulse” merchant.¬†When successful, you will increase shoppers’ confidence that you’ll be there to serve their ongoing needs, including repeat purchases, product service and returns. Broadly speaking, a permanent retailer has a strong merchandising plan, fully stocked displays, product-specific fixturing and quality signage and messaging. Take a look at your location objectively, or better yet: Ask for unvarnished feedback from other merchants, shoppers or mall staff regarding your location’s first impressions and shopability.
Greg Guyette, Vice President Sales and Marketing, Kiosko Inc.
3. Arrange your merchandise so it’s easily shopable.
People like to buy from stores that are easy to shop, so have your products arranged appropriately, grouping items as necessary. Signage should be clear so customers understand what’s on sale, what’s not, and what the price is of each item. One caveat: Don’t overdo sale stickers by putting a bright orange sticker on every item; it diminishes the impact of your entire display.
Coleen McNelis, Vice President Specialty Leasing, Macerich
4.Plan for the last-minute rush.
The last two weeks prior to Christmas will be your busiest time, when you’ll bring in a significant portion of your holiday sales. If you don’t have enough product to keep up with demand during this time, you’ll be sending your sales to your competitors. You can’t sell the most product possible, if you don’t stock enough product in the first place. Schedule employees to take advantage of the last-minute rush. You will close more sales if you have additional employees working the two busiest weeks of the season.
Mark Klockner, President, Retail Infusion
One of the top reasons that consumers shop carts and kiosks is because they carry unique products. Even if your core product is mainstream, you can highlight the most unique aspects of your merchandise with the right professional signage, or you can fill-in your offerings with some new and unique products that can’t be found elsewhere. Give your customers the chance to find something new and delightful at your store!
Ajay Chadha, Vice President, Spa Concepts, Inc.
Don’t forget to check out our articles on how to prepare your business for the holiday season.