The holiday period can feel like a bit of a retail marathon. As soon as one leg is over and all you want to do is relax and put your feet up, you have to pick yourself up and push through the next leg of the retail race.
The week between Christmas and New Years can be a game-changer for retailers, and if done right, it can be one of the most profitable weeks of the year. This shouldn’t come as a surprise considering that Boxing Day is one of the biggest days in Australian retail.
This is all well and good, but unfortunately for retailers, it means that it’s definitely not the time to relax. So how can we continue to spread the retail cheer even after Santa has hung up his red suit for another year?
It’s All About the Experience
Boxing day is the start of gift card season. It’s important to remember that a lot of people are in your store to spend the gift card they got for Christmas. This also means that it could be the first time they have stepped foot in your store. Make sure their experience is a good one, and you might earn yourself a returning customer in the year to come.
Stay up to Date
As much as we all want to hold onto Christmas for as long as possible, make sure that the minute Christmas is over your store reflects it. Your Christmas visual merchandising should be removed, along with any expired promotional signage. Don’t forget to switch out that holiday playlist for something else. It’s important that those who shopped in your store before Christmas feel like you have something fresh to offer now Christmas is over.
Mark It down
It’s not the time to wait to start any sales. Have your markdowns ready for the 26th of December. If you wait to start your clearance sales until January, you might not be ordering fresh stock until February and your store won’t be “new” until March.
On the Flipside
On the flip side, getting full price merch out on the floor is just as important. One of the most important things to remember is that the majority of your customers are spending someone else’s money. Shopping with a gift card has a funny way of making you worry less about the price tag and look for a new item.
The Dreaded Returns
Unfortunately, what comes with the increase in shopping over the Christmas peak is an increase in shoppers looking to return the presents that might not have been just right. The focus should not only be on selling but also on keeping it sold.
Train your employees to convert returns into exchanges using various selling techniques. This is where your big sale becomes important. Make sure that every customer is aware of the sale. Ideally, you want them to know this before they get to the register. Consider placing a staff member at the door to greet people and spread the message. Remember that the main goal is to get customers to look around the shop, especially if they just came to return an item.
Don’t forget that everyone’s a bit tired after Christmas. If a customer wants to return an item, make sure that staff are still friendly and helpful. The main goal is to build sales and not antagonise customers, this way they will be more likely to come back and shop again.
Your Most Important Asset
Over the holiday’s employees work extremely hard. Make sure to show them your appreciation for them in some way or another.
This doesn’t mean they also can slack off once Christmas is over. Emphasise the importance of promoting a sale, collecting customer email addresses and building the loyalty program even though it’s busy. Most importantly, make sure that employees are all trained and quick on their feet as customers’ patience tends to wear pretty thin at this time of the year.
The week between Christmas and New Years is a great opportunity to not only wrap up a great year on a high note but also set the standard for the year to come.
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