Preparing Your Retail Store for the Holidays
With the holidays right around the corner, there’s no better time than now to prepare for the “retail rush.” According to Wikipedia, U.S. shoppers spend more than $600 billion during this time of year, which translates into roughly $767 per consumer. So if you’re looking to capitalize on this trend, you should follow the tips outlined below.
Hire Additional Staff
Don’t underestimate the increase of foot traffic that your retail store will receive during the holidays. The months of November and December yield the greatest amount of shoppers for retail businesses, which is why it’s recommended that you hire additional staff. More employees means faster checkout times and greater customer satisfaction. Furthermore, it will help to reduce the risk of injury, as staff members will have an easier time controlling large crowds.
Stock Up on Inventory
Retailers should also stock up on inventory to prepare for the holiday rush. If there’s a strong demand for a particular product, go ahead and order a surplus of it. Waiting until you run out the product to place another order will end up costing you sales — lots of sales during the holidays. To prevent headaches such as this from occurring in your store, stock up on popular products for the holidays.
Consider Changing Your Store Hours
Another tactic that can help maximize holiday sales is to change your store hours. Perhaps you can open a few hours earlier and close a few hours later. Those extra hours can yield additional sales, so long as you have the staff and resources necessary for the change.
Create Attractive Product Displays
Of course, the right product displays will go a long ways in boosting your store’s holiday sales. If your store sells footwear, for instance, consider using shoe risers to present them in a more attractive manner. Whether it’s acrylic or metal, shoe risers offer a simple yet effective way to display shoes. The shoes are elevated on a platform-like riser, increasing their visibility for shoppers.
Offer Special Deals and Promotions
With tens of thousands of retailers vying for consumers’ business during the holidays, it’s paramount that retailers offer special deals and promotions. It’s not uncommon for retailers to offer 50% off more or more during this time of year. Other incentives to attract customers may include buy-one-get-one-free offers, store credit vouchers towards future purchases, free giveaways, and more.
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