The Most Wonderful Time of the Year for Small Businesses
The Holiday Shopping Season Is a Major Opportunity
Black Friday kicks off a robust consumer shopping season that can give your business a major boost before the end of the year. This is your opportunity to position your services and products to consumers who are ready to spend money. In fact, for many small businesses, the holiday season can account to up to 20% of annual revenue.
According to a Deloitte report, holiday retail sales are likely to increase between 3.5% and 4.6% over last year. Deloitte also forecasts e-commerce sales will grow between 10.3% to 12.8%, year-over-year, during the 2023-2024 holiday season. While the big retailers may grab the holiday sales headlines, small businesses actually see substantial sales increases, too.
Black Friday Kicks Off Key Shopping Days
Here’s what you have to look forward to. First comes Black Friday with huge crowds lining up before stores open their doors and planning to spend the entire day shopping. Next, Small Business Saturday encourages shoppers to support local small businesses. Then, Cyber Monday offers you a chance to grab the attention of online shoppers. To top it off, this year there are four full weeks after Thanksgiving leading up to Christmas when customers are still out shopping for gifts and holiday needs. You also may have opportunities to leverage the sales momentum created by others through news stories, community holiday-themed gift fairs and events, and local business partnerships to promote holiday shopping.
Prepare to Meet Customers’ Needs Throughout the Season
The key is preparing for the full shopping season and making sure you don’t run low on inventory for the last-minute buyers. Make your store and website festive and fun. Run promotions and sales timed around peak shopping days. Send email and social media marketing about specials and new products. Put together gift packages and bundles that make great presents. Even if the products you offer or the services you provide aren’t typical gift items, you can still tap into the holiday spirit. Most importantly, inspire your staff to provide outstanding customer service.
Starting today, work the holiday season ahead and finish the year with your sales at record highs! With focus and persistence, you can make this your business’s best quarter yet.
If you would like to learn more about how this might apply to your business, let’s talk: