Black Friday, Small Business Saturday and Cyber Monday are a month away, but wise retailers are not waiting. Half of shoppers have started making their holiday purchases already, inspired more by great deals than by tradition.
Follow these five tips to help bring your small business into the black this holiday shopping season.
According to a recent survey by RetailMeNot, 45% of consumers will start shopping before November 1, 25% started shopping before October, and 12% started shopping for the holidays over the summer.
Hosting a special promotional event in your store the week (or two) before Black Friday is a fun way to steal a bit of that business and give your customers a treat.
What makes shoppers start so early? RetailMeNot reveals that 52% of consumers seek out a special deal or offer when they’re looking for a gift; in fact 48% shop in a store based on the deals they find there. Luckily for you, the big retailers start advertising their Black Friday deals way in advance, so you know the prices to beat.
Improve the Experience
Black Friday is no fun! Shopping at the large retailers like Wal-Mart, Target, Macy’s and Best Buy on Black Friday is crowded, stressful, and sometimes just plain dangerous.
Business Insider summarizes the most common complaints. You’ve heard it before–the masses of people, the cutthroat shoppers, the markups that make a discount look better than it is. Why not set yourself apart by offering competitive deals paired with something that makes it extra special and pleasant to be in your store? Invite the local coffee shop or bakery to set up a table of treats. Or it could be as simple as special decorations and music.
Stock What People Want
RetailMeNot says that this holiday season, 53% of shoppers will buy clothing or shoes, 51% want electronics like the iPhone 8, Google Home, drones and smartwatches, and 32% are are shopping for popular toys like the Hatchimals Surprise, Nerf Rival Nemesis and FurReal Friends. If those products aren’t in your wheelhouse, incorporate into your promotional events some giveaways and door prizes of gift cards to places that do sell them. If they’re not going to find those items in your store anyway, you can at least use those items to lure them into your store, where they’ll find something else they must have.
Advertise, Advertise, Advertise
Don’t wait! Make a plan and start promoting it now on social media and in the places where the big box stores post their flyers.