For the first time since 2020, in-store purchasing has overtaken online sales as the preferred shopping method. In fact, 63% of respondents to a JLL Retail Holiday Survey plan to do at least part of their holiday shopping in physical stores, a more than 5% increase compared to last year.
This shift not only signifies a sense of normalcy returning since the 2019 pandemic but also an opportunity for local retail owners to increase holiday sales. People are craving the holiday shopping experiences, the festive decorations, seasonal cookies and pies, and the joy of handpicking gifts.
As a small business owner, especially in retail, you might find preparing for the holiday rush overwhelming. But don't worry. We've got retail business tips to help you get your store ready for the season and give your retail sales tips on how to make it a successful one. Our small business marketing consultants have some key holiday retail marketing strategies designed to show you how to increase retail sales and make the most of this busy season.
2023 Holiday Shopping Trends
Last year, the trend was clear: people are getting their holiday shopping done earlier than ever. According to a Google survey, about 21% of holiday shopping was already wrapped up by mid-October. And by the time Black Friday rolled around, shoppers had checked off a staggering 87% of their gift lists.
So, how can small business owners like you get ready for this early start to the holiday season? Let's dive into some key areas that can help.
Social media has become a key player in helping people find new products, making it a tool you can't ignore for increasing holiday sales. With TikTok leading the way and social commerce expected to grow nearly 30% this year, you won't want to miss out. If you're not already active on social media, now's the perfect time to jump in.
But it's not just about being seen online; you've got to offer value too. Around 67% of retailers believe customers are on the hunt for significant holiday discounts. To reel them in and keep them coming back, don't overlook the power of a good deal. A pro tip is to use the word "free" in your promotions For example, offer "buy two, get one free" or include a free add-on with purchases over a certain amount. The word "free" grabs attention and makes people feel like they're getting extra value.
As you dial up the discounts, don't forget to personalize. Use customer data, like past purchases, to make your offers more on-point. Automated emails and targeted ads can remind customers of items they've shown interest in, making them more likely to hit that 'buy' button and increase holiday sales.
Lastly, shoppers these days love options and flexibility, like being able to buy online but pay and pick up in-store. If you can make the shopping experience seamless between your online and physical store, your customers will thank you for it!
By focusing on these areas, you can make sure your business is ready to make the most of an early and busy holiday shopping season.
Holiday Retail Tips to Prepare Your Store
Getting your retail store ready for the holiday rush involves more than just stocking up on products. Part of your holiday retail marketing is about creating an experience that draws people in and keeps them coming back. From how your store looks to how you manage your inventory, shipping, and promotions, each element plays a crucial role in ensuring a successful holiday season.
To start, let's dive into the specifics of what you can do in these areas to make the most of the opportunities that come with the holiday shopping frenzy.
Starting with holiday retail marketing, it's a crowded field, especially during the holidays. Last year, holiday ad spending reached 57 billion USD. So, it's not about being the loudest, but about connecting with your customers. Roll out campaigns that really get into the holiday spirit. Limited-time offers or daily deals can make shoppers feel like they need to act fast. The aim is to grab their attention and bring them into your store, online or in person.
Your store's presentation is often the first thing that catches a shopper's eye. Consider spicing up your window displays to attract those walking or driving by. You might even want to bring in a local artist to add some creative flair to your windows and in-store signs. The idea is to turn heads and get people curious enough to step inside.
Once inside, keep the experience engaging. Hosting in-store events like gift-wrapping classes, holiday craft sessions, or cooking demos can offer something unique and bring people together. This isn't just about making a sale; it's about building a community and creating buzz around your store.
Inventory management will also be a big part of how you will be successful. Keeping an eye on not just the products, but also essential supplies like packaging materials, thank you notes, stickers, etc., to offer a personalized shopping experience. This could involve setting up a system to regularly check the levels of these supplies and restock them before running out and getting festive-themed packaging to enhance the holiday shopping experience. While this isn’t a necessary step, it’s a part of what makes the entire experience worthwhile for your customers.
On the topic of packaging materials, efficiency is key. Make sure your operations are streamlined enough to ensure that customers get their orders on time. Click here to read some of our tips on lowering the cost, but increasing the quality of your small business shipping.
Lastly, never underestimate the power of community engagement. Local shoppers are likely to be some of your most loyal customers. Use the holidays as a chance to give back to the community that supports you. Our previous post on growing your small business network in the community offers some excellent tips on how to get involved.
Tips for Increased Holiday Sales
As the holidays approach, it's crunch time for retailers. This period is often the most profitable, and also the most challenging. The key to standing out is not just in the products you offer but in how you offer them. Between the festive store environment and the exciting promotions, it's all about giving your customers reasons to choose you over the competition.
So, what can you do to make sure your cash registers are ringing all season long? Here are some actionable tips to help you boost your holiday sales.
Exclusive Deals: People love a good deal, especially during the holiday season when they're already planning to spend more. Creating limited-time offers or exclusive bundles can help you stand out from the crowd. Consider running flash sales that last just a few hours to create a sense of urgency and excitement. For your most loyal customers, VIP sales events can make them feel special and give them first access to your best deals.
Gift Wrapping Services: The holiday season is busy, and people appreciate anything that saves them time. Offering free gift-wrapping services not only adds value but also offers convenience. Use festive and sustainable materials to wrap the gifts. It’s a simple way to make the shopping experience memorable and could tip the balance for customers deciding between you and a competitor.
Holiday Themed Events: Remember those in-store experiences we talked about earlier? Well, they come back into play here. Holiday-themed events can add a dash of fun to the shopping process. Whether it’s a gift-wrapping class, a holiday craft session, or a cooking demo, events like these create buzz and make people more likely to stop by your store. They can turn a simple shopping trip into an outing to remember.
Loyalty Programs: The holiday season is an excellent time to give back to your regular customers and keep them coming through your doors. Consider revamping your loyalty programs for the season. Double-point events can encourage more purchases within a specific period. Offering exclusive discounts or early access to sales for loyalty program members not only rewards them but also increases the likelihood of repeat business.
Collaborative Promotions: One of our number one retail tips is to partner up. Collaborations can be a powerful tool during the holidays. Whether it's co-hosting a holiday market or offering special bundle deals, working together can amplify your reach and create a sense of community. Check out our earlier blog on co-branding strategies for more ideas on how to make collaborations work for you.
Key Takeaways
Getting an early start on holiday preparations is crucial for how to increase retail sales. With trends showing that people are completing their holiday shopping earlier each year, timing is everything. Social media platforms, especially trending ones like TikTok, are more than just for fun; they're retail tips that can significantly increase holiday sales.
Value is another key factor in boosting your holiday retail sales. Offering special deals and promotions, especially those that include the word "free," are retail sales tips that can grab people's attention. The aim is more than just ringing up a sale; it's about creating a memorable customer experience, which is the cornerstone of effective holiday retail marketing.
So, what's the final word? Retail business tips like starting your holiday prep early, offering genuine value through promotions, and effectively leveraging social media can not only set your business up for a profitable holiday season but also help in building long-lasting customer relationships.