How to boost your sales this festive season

As the Christmas festivities approach, retailers may feel a mix of excitement and pressure. Whether you’ve experienced significant growth or faced tough challenges this year, the key to a successful end of season lies in strategic planning and informed decision-making.

In this Lunch and Learn, Alison Metcalfe guides you through the 10 crucial considerations for deciding whether to promote or not during Black Friday and Christmas.

Learn how to effectively assess your business’s readiness for the holiday season and make informed choices that align with your goals.

With over 20 years of experience in the retail industry, Alison has had the privilege of working with renowned companies, such as John Lewis, H Samuel, Woolworths and BHS. Her journey in retail has equipped her with a wealth of knowledge and expertise that she can now bring to small retail businesses as a freelance consultant.

Topics covered in this session

• How to balance stock levels and profit margins

• What to consider when thinking about the strength of your brand and your business's customer loyalty

• The impact that market trends and sustainability have on your business

Alison's key points from the webinar

Strategic planning and performance monitoring

• Set specific targets for sales, margins and stock levels between now and Christmas. Monitor your KPIs daily during Black Friday and Cyber Monday, as this knowledge will help you perform more efficient and adjust promotions as needed.

• Consider key factors like sales performance vs. plan, margin (cash and percentage), stock levels and customer behaviour when deciding on promotions. That way, you make sure you remain profitable and always work towards your business goals.

• Create an action plan for December based on Black Friday and Cyber Monday results. Adapt your methods to both capitalise on successful approaches and address any areas in which you underperformed.

Customer segmentation and targeted promotions

• Segment customers for Black Friday promotions, offering specific deals to loyal customers and discount-driven shoppers who didn't respond to previous designs.

• Launch new products in December to capitalise on the biggest footfall of the year. Think about using introductory offers to attract customers during peak shopping periods.

Managing stock and supplier relations

• Ask suppliers to hold stock for next year if you won't need it during the current season, as they often have a lot of available warehouse space.

• Clear your "problem stock" in December, especially items you've overstocked for more than a year. December is the best time to attract customers who are looking for good deals and reduce inventory.

Sustainability and managing returns

• Put strategies in place for reducing returns and promoting sustainability. This might include offering incentives for customers to keep promotional purchases, and providing recycling options for returned items.

• Encourage click-and-collect options to reduce the carbon footprint associated with deliveries and returns during the holiday shopping season.

Competitive positioning and customer behaviour

• As your competitors will likely offer promotions, not providing deals may cause your sales to drop. This is because savvy customers seek competitive prices during the holiday season.

• Understand the distinction between discount-driven customers and more valuable full-price customers who are less price-sensitive and more likely to buy at your normal prices.

About Enterprise Nation

Enterprise Nation is the UK's most active small business network, helping thousands of people turn their good idea into a great business. Join today to get everything you need to start and grow your small business, in one place.

About Constant Contact

Constant Contact offers email and digital marketing tools that make it easy for your small business or nonprofit to get the attention and revenue it deserves. Constant Contact has joined Lunch and Learn to share its extensive marketing expertise.