Tis the season to be jolly and retailers nationwide are hoping to be singing all the way to the bank this Christmas. However, with only a few days to go until the big day, it is imperative that those looking to make a few last minute sales truly capitalise on the opportunities the festive season affords them.
Christmas retailing has changed drastically in recent years as a direct result of the financial crisis which hit in 2008, as consumer confidence is yet to recover entirely from the large scale economic issues which have plagued the country. With household income being squeezed by factors such as rising energy bills, increasing food prices and a general inflation on the cost of living, consumers now seek value for money above all other things when purchasing gifts for friends and family.
Therefore, retailers looking to increase footfall and lift profit margins may wish to begin their Christmas sales a little early this year in order to stay ahead of the competition. A pre-Christmas sale, perhaps even starting as late as Christmas Eve morning, will encourage those swept up in the festive spirit to spend in stores offering the best value – and will be the ideal stopping point for those who leave gift purchases to the last minute!
Additionally, this is the ideal time for small local retailers to claw back consumers from internet giants, as in the run up to Christmas Day itself many consumers worry that their gifts will not be delivered on time. Perhaps smaller retailers can edge out the competition by hiring an additional staff member to make home deliveries on larger items in the next few days, or even delegate this task to an existing member of staff.
This technique is relatively easy to implement, especially if the retailer already has a website showing potential customers what they have to offer. Payments can be made via a PayPal account, or the customer can choose to pay the delivery driver in cash, therefore cutting out the Royal Mail delivery service and ensuring a speedy delivery.
Small grocery retailers can also utilise this technique, thereby undercutting supermarkets such as Morrisons which do not at present offer a home delivery service nationwide.
Most of all, retailers looking to attract consumers must put preparation at the top of their Christmas list going into the hectic few days before the 25th. Taking note of which items have proven to be most popular in the long term run up and re-ordering stock on a regular basis will help form a reputation for reliability and efficiency which will be remembered long after the tree has been consigned to the scrap heap.
As always, going the extra mile in terms of customer service will be appreciated, as a friendly face and helpful demeanour will help to ease the stress of the gift purchasing experience for consumers. By showcasing the best a business has to offer at this time of year, the benefits can be felt throughout the holiday season and well into 2014.
What do you look for in a retailer during the run up to Christmas – is it a matter of choosing the one with the best prices or the one with a reputation for quality and reliability?
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