On the one hand, the outlook heading into the holiday season is encouraging. For instance, multiple analysts are predicting a 7% or more growth in sales.
On the other hand, this growth won’t exactly be the same as it has been in the past. On the contrary, there are numerous wild cards factoring into the mix.
For instance, on the plus side, it’s forecasted that e-commerce will account for a record 18.9% of all holiday retail sales — and we think the real number will go even higher than that. On the opposite side of the leger, there are also numerous misgiving from finding enough seasonal staff to distribution concerns and supply chain management.
With a promising yet challenging holiday season ahead, it’s important for retailers great and small to do their best to prepare. Here are a few tips to help you do just that.
Review Your Finances
Financial security is important, especially if you see sales jump during the holiday season.
Will you need to hire additional part-time staff to handle the holiday rush? Will you need to put in extra manufacturing orders? Have you considered a bump in shipping costs?
Make sure you have plenty of liquidity and a healthy cash flow heading into the holiday season. That way you’ll be ready to handle any added expenses.
Stock Your Inventory
With post-pandemic supply chains in turmoil, it’s important to take stock of your stock well before the holidays are here. Orders may be delayed and it’s essential that you take steps to head off any shortages.
You can do this by using past sales figures and other marketing-related data to gauge future holiday demand. Even so, you may find that the unpredictable nature of the current market may require you to restock your inventory partway through the season. Unless you don’t mind over-purchasing stock, the best advice here is to stay vigilant and ready to act as you go along.
Assess Your Marketing Strategy
Marketing isn’t just important. It’s never been more accessible.
Small businesses are cashing in on the power of online marketing like never before. At TruLife Distribution, we utilize key marketing channels for our clients, such as:
- Press releases;
- Social media;
- Influencer marketing;
- Search engine optimization;
- Photography and videography;
- PPC advertising.
In addition, you can create content for your company website. You can also utilize email lists to reach out with holiday specials and other promotional opportunities.
Online advertising can be tailored to fit any budget. It can also reach virtually any audience. The important thing is taking the time to strategize and put a holiday marketing plan in place before the end of the year arrives.
Polish Your E-commerce Presence
Along with marketing-focused online activities, you also want to consider your e-commerce efforts. This primarily focuses on your website and any online retailers you may be using.
TruLife Distribution works hard to ensure that our clients have optimized websites. We also secure listings on major e-commerce sites.
When it comes to the holidays, you want to go over your website and make sure that it’s optimized for holiday traffic. Highlight gift-related content. Make holiday-focused recommendations. Tailor your content for the season wherever it makes sense to do so.
However, you go about it, look for the best ways to polish your e-commerce efforts before the holiday rush begins.
Consider Your Customer Service
Finally, give your customer service a once over, as well. This includes several important considerations:
- Make sure your customer service staff (even if that’s just you) is ready to interact with holiday shoppers. Think through how you’ll approach interactions with a respectful, positive, holiday-themed focus that is appropriate for your brand.
- Supply all of the information your reps might need to answer questions. This includes anything from holiday specials to product descriptions and everything in between.
- Solidify your holiday guidelines now. Establish things like discounts, return policies, and shipping information.
Customer service has become a critical part of the customer journey. You want to equip your customer service department with the tools that it needs to succeed. That way your employees will be able to properly represent your company this holiday season.
Tackling the Holidays the TruLife Distribution Way
At TruLife Distribution, we take pride in providing top-notch, holiday-level service at all times of the year. Our partners receive quality marketing, distribution, and consulting services no matter what the season.
That said, there’s always an added measure of excitement when the holiday fun starts to percolate through everyday life. As the festivities draw near, make sure to set the stage so that your company can thrive, no matter what this holiday season may bring.
