This year has just flown by. Halloween is just around the corner, pumpkin spice lattes fill my Facebook feed, and major department stores have had their full-on winter wonderlands set up for more than a month! (visited Selfridges yet?)
It is officially time to get all your reindeer in a row and get ready for the busiest time of the year. I'll be sharing helpful tips throughout the next few weeks, but here are a few ideas to get you thinking in the right direction.
1. Confirm your inventory is in line with your sales goals. While there are a lot of complex ways of doing this here is what I do for a quick overview:
-Compare the sales % to total (from last year’s holiday sales) by the current stock % to total. It is interesting to look at this by brand, category, product, and price point. If you are a new store without last holiday sales data just pull your year-to-date information. Below is a basic example of what it should look like. (If this type of analysis is new to you, or you want more information on what else you could look at, feel free to send me an email!)
2. Plan an exclusive holiday shopping event. If you run a children's shop, plan a 'parent's night out' with cocktails, light snacks, and a sweet little discount on all items purchased during the evening. If you own a clothing shop for women, make it a 'girl's night out'. There are so many options for holiday shopping, making your customers feel special, with a specific call to action, can make all the difference. Helpful hint: reach out to your vendors and ask them to participate. Many will donate gifts or bring special product in for the night - it can't hurt to ask!
3. Be your own best PR. You are not only a shop owner, but you are also an expert in the categories and products you stock! Put together a gift guide and send out to local newspapers and blogs asap. Partner with local non-competing business to put together a giveaway online. Start thinking outside the box on how you can get your name and shop in front of potential new customers!
Need some more ideas? Contact me for a chat!