It’s that time of year again, when hardworking Brits dip into the savings and splash out on a wonderful Christmas and festive period.
While the average amount spent by Brits at Christmas dipped during 2020 and against the back of the coronavirus pandemic, it’s expected to return to 2019 levels of £513 per person. As a result, the cumulative amount spent is likely to top £26.9 billion, as prosperity begins to return and lockdown measures remain at a minimum.
For retailers, there’s no doubt that Christmas will once again drive increased footfall to their doors and websites. But how exactly can you capitalise on this trend for the benefit of your business?
#1. Invest in Seasonal Stock Ahead of Time
Ideally, you’ll need to be prepared and proactive ahead of the festive or any other season, so your buying team will need to be working hard to identify the most popular items and stock items.
By buying early and in bulk, you can minimise the amount that you have to pay, optimising future profits while ensuring that you can start marketing and selling your stock ahead of your competition.
Even if you need to secure a small business loan to fund such purchases, this is a worthwhile investment that can translate into increased returns over the course of the festive period.
#2. Create an Inviting, Festive Retail Store
If you own a corporeal retail store, you’ll also want to create an eye-catching and inviting outlet that’s befitting of the festive season.
Make no mistake; seasonal decorations are absolutely key here, as they help to create awareness among customers while capitalising on the fact they’re naturally willing to spend more during the festive period (and similar epochs such as Easter).
You can evolve on this concept further simply by investing in sustainable and recyclable decorations, which can reinforce your brand’s commitment to reducing its carbon footprint and upholding key values.
#3. Adapt Your Marketing Strategy
This may sound obvious, but even the most rudimentary marketing campaigns should make special provisions for the festive period and the way in which you engage customers.
For example, special festive designs and creative themes should run through both on and offline campaigns, while you should also focus on developing seasonal copy that’s more likely to resonate with shoppers.
This should also translate into focused promotions, which should focus on seasonal stock and offers while being concise, well-timed and easy-to-understand from the perspective of even casual customers who are new to the brand.
As you can see, there are several steps that you can take to capitalise on increased seasonal footfall, particularly during the busy festive period.The key is to create a viable strategy and be proactive in your approach, with a view to fully incentivising new and existing customers and stealing an all-important march on your rivals!