The holiday season is a joyful and merry time, but it can also be a stressful time as well. According to a report by the National Retail Federation, sales in November and December make up an average of 19% of total retail sales for the entire year. That’s a lot of sales in just two months!
It can be easy for all the craziness to get to you, but you can set yourself up for success this holiday season by preparing early. Businesses that can stay ahead of the game are prepared for whatever the holidays throw at them, ensuring smooth operations, fast deliveries, and customer satisfaction. We’ve compiled a list of the five best tips that businesses can implement to properly prepare for the holiday rush.
1. Stock Up on Best-Sellers
Businesses should always increase their overall inventory for the end-of-year rush, but businesses will especially want to stock up on their best-selling items. Pay attention to both your sales data and greater trends within your industry. Make sure you have plenty of the hottest and most sought-after items in stock well before November.
Your inventory should be well-stocked with the latest and greatest, as well as your steadier and more reliable sellers when the holiday season rolls by. We’ve all heard stories of the lengths customers will go to to get that one special gift, driving hundreds of miles and visiting a multitude of stores just to buy one item. If customers are assured that you have their sought-after items in stock, they’ll be inclined to give you their business instead of a competitor that might have what they want.
2. Invest in Plenty of Packaging
Your sales are no good if you have no way of sending your products to your customers. In the months leading up to November, make sure you have plenty of packaging supplies on hand. You need to make sure you have enough packaging to get through the holiday rush, while also verifying that your tape, stretch wrap, mailing envelopes, and other supplies can withstand the rigors of shipping and storage.
If you plan on stocking up on packaging supplies for the holiday season, buy early. Most businesses purchase their supplies 1-2 months before the rush begins. If you wait too long to buy your holiday packaging, you risk these products going out of stock by the time November and December roll around. Beat the crowd and purchase your holiday packaging supplies in August and September. Not only can you guarantee that the items you want will still be in stock, but you can also make good on Labor Day weekend deals. The more savings, the merrier!
When you invest in packaging supplies for the holiday season, don’t just think about the function – consider the presentation! The holiday season is full of bright and vibrant colors, so don’t be shy when selecting your packaging. Buy yourself a set of colored packing tapes and poly mailers that match your brand’s signature colors. Better yet, get red and green packaging to reflect the spirit of the season. Your customers will appreciate the added touch of personality and seasonality.
If you need help figuring out what the best and most popular packaging materials are for the holiday season, be sure to check out our article going over the top 10 packaging supplies for the holidays.
3. Encourage Customers to Shop Early
Why do customers spend so much at the end of the year? Two main reasons: to celebrate the holidays and take advantage of deals and discounts. So why does your business have to wait until Black Friday to start rolling out holiday prices? Get ahead of the curve by offering early discounts!
Kick off the holiday rush early with a series of deals throughout October and November. If you want, you can make an occasion of it by having a “Customer Appreciation Day” with large discounts on your best-sellers. It’s an opportunity to make your customers feel special and show that your business cares about more than just the numbers.
While it is smart to encourage early shopping, you need to make sure that your early-season incentives do not eclipse the profits you can generate later in the season. A great holiday season starts with a bang, but also needs the momentum to sustain through to the end of the year. Remember: a great holiday business strategy works in both the short and long term.
4. Stay Aware of Shipping Dates
There’s nothing more frustrating during the holidays than ordering something as a gift, only for it to show up well after the holiday has passed. Avoid this unfortunate fate by staying vigilant with holiday shipping dates.
If you’re shipping with the USPS, keep the following deadlines in mind if you’re planning to have your deliveries arrive by the 25th:
Ground Advantage/First Class Mail: December 17th
Priority Mail: December 18th
Priority Mail Express: December 20th
If you’re shipping with either UPS or FedEx, these companies provide detailed schedules to help you plan your holiday shipments.
Customers commonly consider timeliness to be one of the most important parts of great customer service. And while problems and errors are inevitable as the holiday rush kicks into high gear, businesses nonetheless have a responsibility to keep these problems at an absolute minimum. By staying committed to these important holiday shipping dates, you can boost your overall customer satisfaction while keeping delays and profit losses at bay.
5. Learn From Last Year
They say that failure makes the best teacher. While last year’s holiday rush may not have been a failure for you, there may be several ways you could improve for this year. Take a look at last year’s sales reports and financial statements and see if there’s anything that stands out. Was there a missed opportunity for additional sales? Are you spending too much on your operations? Is there anything you could’ve done to streamline your processes or gain an advantage over your competitors?
Speaking of competitors, don’t leave them out of your holiday rush analysis! Which of your competitors performed the best during last year’s holiday rush? What were they doing that you and the other competitors were not? Is there an opportunity to sway your competitors’ customers to start shopping at your business? What can you do today to put your business in a better position than your competitors at the end of the year? A thorough analysis of your business during the holiday season will not only show the areas that you can improve upon, but also reveal new strategies and tactics to implement so you can knock this year’s holiday rush out of the park.
…And a Happy New Year
The holiday season can be both fun and frustrating. While your business will see a boost in sales and revenues around the end of the year, it takes a lot of time and effort to make those sales and revenues happen. But you don’t have to sit around and wait for the holiday rush to come your way. In the months leading up to the holidays, take the time to prepare! Stocking up on best-selling items and packaging supplies is always smart, but it also helps to encourage early shopping and keep important shipping dates in mind. And of course, it never hurts to look at what happened in the past and see how to improve for the future.
By being prepared for the holiday rush, not only will your business achieve higher revenues and lower costs, but also your customers will appreciate your preparedness and responsiveness, helping to turn holiday shoppers into regular customers. So start the new year right with your best holiday season this year, simply by taking the time to prepare.
