Every year, retailers prepare for the anticipated holiday shopping season. With 95% of Americans observing Christmas and buying gifts, it’s no wonder that holiday shopping accounts for over $3 trillion in revenue every year. As such, the holiday season is the ideal opportunity to optimize your business and maximize profits. If your business is struggling to profit from the holiday season, consider strengthening these areas of your business to increase your success.
Enhance Your Website
The convenience of online shopping has led to half of all Americans buying gifts online during the holiday season. Over 120 million people shopped online for gifts on Cyber Monday alone. If your business does not have an up-to-date, functioning website, you will likely be losing out on major profits. Investing the time and money into professionally developing your website will bring in more shoppers doing all their shopping online. If you already have a well-designed site, make sure it can handle the increased traffic that will occur during the holidays. Not only will your customers be happy, but you may begin to see your business meeting more of its profit goals.
Hire More Help
The increase in retail store traffic during Christmastime leads to many employers choosing to hire additional help. In 2013, American retailers hired an extra 768 thousand people to help with the holiday rush. While customers expect stores to be a little busier during the holidays, if your business is struggling to keep up with demand you could be hurting your profits. Customers who see long lines or have heard negative things about a particular store will be unlikely to shop there. If you want to give a steady stream of customers a positive experience at your business, consider hiring additional assistance to help you achieve your goals.
The Christmas season is the best time to offer promotions at your store. When thousands of people are already out shopping, having something extra to draw people into your store will help boost your holiday success. Consider offering last-minute sales to draw shoppers into your store, and offer discounts for their next purchase to help bring them back. Give online deals to your virtual shoppers, and always make your marketing campaigns easy to share, either by word of mouth or social media.
Whether you’ve been planning for the holidays for months or are troubleshooting lower-than-average profits, consider these three key areas to help your business succeed during the holiday season. Not only will your customers be happier, but you may see your business start to enjoy meeting the goals you had set.