Business activity is brisk around Christmas and New Year’s. While retail is at its pinnacle, other industries are beginning to slacken. However, it’s crucial for every company to finish the year on a high note and launch into the new year with a bang, which includes strong sales.
Given the intense competition, it’s critical to understand what will increase sales and satisfy customers.
The end of the holiday season may be a difficult time for many businesses in terms of revenue. With more people and events to buy for, it is inevitable as consumers feel like their budgets are being squeezed. But if you plan out the months of December and January properly, the slower weeks won’t be as detrimental to your company.
It’s critical to consider whether a sizable sale will improve or harm consumer impressions of your business before opting to offer discounts as part of the Boxing Day promotions. Our business, Owlet Baby Care, creates high-end baby goods that are sold for a price that conveys quality. Therefore, offering steep discounts at any time of the year would damage our brand equity and undermine our reputation.
Instead, we decide to collaborate with other businesses who share our sense of style and target market. In order to boost sales during the holiday season and into the new year, we also provide more incentives and gifts with purchases. Our Smart Sock is likely to attract more interest from potential customers, especially from our social media followers, than a 10% discount would.
Despite this, the baby care business is less seasonal than others because new and expectant parents require the items all year round. Make sure you can still deliver the same high-quality client experience as you would even in the absence of a discount if you think your company will profit from offering products at a cheaper price to increase sales in December and January. If a customer learns that your company is running late, is having equipment issues, or that your crew is inexperienced or exhausted, the thrill of getting a lower price is soon replaced.
Consumers are inundated with messages during the end-of-year sales, so consider what your customer is going through at this time of year. Try to employ marketing methods that will make your sale stand out from the competition and try to keep your expectations of the busy period reasonable. Find many ways to make an impression, but your main focus should be on giving the customer value. Think about what your customers are looking for, make it simple for them to locate it, and demonstrate the advantages of doing business with you.
Significant price reductions can be a powerful weapon for attracting customers, but it’s critical to prevent a race to the bottom as Black Friday forces prices even lower. Due to their massive sales volumes, large retailers can turn a profit on slim margins, but this is challenging for smaller enterprises.
Christmas shouldn’t be viewed in isolation; instead, it can help your year-round sales plan. Over the Christmas season, as new clients visit your store—whether as a result of discounts or otherwise—this is a fantastic opportunity to forge long-lasting connections. Customers who are dependable are considerably more valuable to your company than those searching for a quick deal.
When a sale is made, data about the customer is first gathered. For a discount or digital receipt, consumers will gladly exchange their names and email addresses. Then, you can utilise this to give out vouchers at different points over the year.
Digital technologies are by far the most effective way to collect data and can support the creation of loyalty programmes. Shop assistants can easily enter client information on a tablet with cloud software while working in-store or on the go, add purchase information to the customer’s record, and choose how to reward them with online punch card programmes, exclusive discounts, or birthday gifts.
Making the most of each customer engagement over the holiday season can pay dividends throughout the rest of the year, especially if it is handled as a crucial aspect of a yearly strategy for acquiring new clients.
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