Getting ready for Christmas
| Accountancy firm Deloitte has found that UK consumers spent a whopping £662 each last Christmas. For many firms, taking a share of festive spending is vital to post a profit or balance the books. Afsheen Latif finds out how give your business a bumper Christmas | |
"Most businesses can do well at Christmas, but it will be particularly good for businesses that sell products or services which can be given as gifts," says Peter Nowlan, director of business coaching firm, Nowlan Associates. "With effort, you could do a third of your sales in this season. "If it is your first Christmas, there may be some trial and error involved," he continues. "But you should aim to learn as much as you can, measure outcomes and keep your eyes on trends in your market, so you can have a bumper Christmas next year." Repackage your offer To ensure you pick up your fair share of the Christmas market, focus first and foremost on your existing offer. Think about what in your current range of products or services is likely to appeal at Christmas, then consider how you can repackage it - for example as part of a gift pack, a 'gift experience' voucher or a seasonal offer. "If you have a café, you could sell sandwiches with a mince pie, for example," Nowlan points out. "You can also use the season as an opportunity to sell more premium products, because people are willing to spend more money." Consider also what related products and services you can bring in; novelty items are particularly popular at Christmas, for example. Err on the side of caution when trying new products, however - you don't want to lose money on unsold stock once the rush is over. "If you have an outdoor space, use it to sell something you might not normally sell - for example, wrapping paper if you own a newsstand or Christmas trees in a pub car park," Nowlan advises. "It could be something unrelated to your main business." Putting on a display If you have a retail space, think about your shop display. Go for a really festive feel but keep it tasteful and focused on items you are actually selling. "You will get more sales from building a fantastic display or doing a festive window," Nowlan explains. "But if you are going to do it, really commit to it." To fully keep up with seasonal demand, you may need to extend your opening hours and look at staffing. "If you are a hairdresser, for example, you should be putting on extra staff because your objective should be to fill your chairs all day long, to meet demand," Nolan advises. "Lastly, think about New Year, too," he concludes. "It could present a better opportunity for your business, for example, if you can offer something to do with the detox market." |
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