The holiday season is right around the corner, and as the old saying goes, those who fail to prepare are preparing to fail. The 2022 holiday season is likely to be a particularly interesting one, especially with shoppers talking about starting their shopping earlier than usual this year. The good news is that consumer spending remains strong and consumers are heading to their local stores along with shopping online.
So, what can you do to prepare for the holidays if you’re in retail? Check out these 2022 holiday highlights to help you get ready.
1. Stock Up (Early) on Inventory
Remember the global supply chain issues that interfered with retail for much of 2021 and 2022? Things are easing, but you still want to make sure you've got what shoppers want.
Suffice it to say that now’s the time to get ahead of the curve and order what you need for the holiday season—perhaps in excess, to play it safe. In many cases, delayed shipping times and shortages may still affect delivery times this holiday season. Use the reporting features of your Point of Sale System to track inventory and follow the shopping trends among your consumers.
2. Double Check Your Website’s Functionality
The holiday season is notorious for upticks in website traffic. Is your website primed to handle it? Slow loading times, delays, and even server crashes can cost you valuable business.
Check in with your website hosting provider to see if they offer free or low cost temporary server upgrades around the holiday season. With extra bandwidth, your website will perform better for users and be less likely to crash.
While we’re on the subject of websites, make sure your website has a seamless merchant payment processing option for online sales. Online shoppers are pickier about these than ever before, so if yours is out of date or not functioning, you could lose sales.
3. Start Your Holiday Sales Early
Consumers faced the same global supply chain issues that businesses did, and many shoppers are planning ahead because of it. Tack onto that fear of inflation and recession, and you can see why many Americans say they plan to get their Christmas shopping done earlier in 2022 than in previous years. In fact, some report they've already started.
With shoppers already checking off their gift lists, this might be a good year to start that holiday sale before Black Friday.
4. Hire Additional Staff
Whether your business is digital or in-person, a few helping hands can go a long way around the holiday season. Having extra staff can help you keep lines shorter, stay open longer, and free you up to focus on big picture planning.
CNBC reported in September that 70 percent of Americans are looking for extra work right now with inflation soaring, which is good news for your small business if you need to bring on additional staff, even temporarily.
5. Look at Shipping Costs Now
Shipping delays could drive up freight and logistic expenses. If you’re trying to get ahead of the curve, get an estimate on how much your shipping costs for products might be now instead of later. An easy first step is to call suppliers and ask what they’re anticipating.
Not for nothing: shipping rewards are a great way to win loyalty from your customers this holiday season. If shipping costs look like they’ll be low on your end, offering free or reduced shipping could help you win business or new loyalty rewards members.
6. Personalize (or Add Cheer to) Your Web Pages
While you're decorating your store, consider adding a little holiday cheer to the website too. A little customization can go a long way to making your site stand out from the crowd. First, run through the site to make sure all the links are working and that it's easy to use. Then, add festive emojis, colors, and templates on your web pages, landing pages, or email marketing communication as a fun way to jazz up content and get customers in the mood to shop.
7. Don’t Leave Out the Other Holidays
Thanksgiving to Christmas is technically the “holiday season” in America. Just remember that approximately only 85 percent of Americans celebrate Christmas, with millions of others celebrating holidays that reflect their cultural heritage or personal choices.
Look for ways to promote or speak to these customers as well. It's a way of being inclusive and welcoming to all of your customers.
8. Give Holiday Influence Marketing a Try
Influencer marketing offers benefits such as a boost in credibility, access to new audiences, and an increase you in your social media following. How about partnering with a local influencer to support your holiday retail campaigns? This could be a great way to plan a giveaway or offer other type of incentive to generate in leads for the new year.
Contact us today to learn how our payment solutions can help you maximize profits this holiday season.
