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Brighter Outlook for Holiday Retail

October 21, 2009 at 12:31 pm | In Business Ideas, Marketing, Tips | | Get this via email

In yesterday's Wrap Up, we published an optimistic forecast for the holiday season.

Retail store giants (such as TJX) are projecting a greater increase in Q4 sales than originally planned. And Pier 1 saw a 9% rise in sales in October versus same store sales last year. According to retail analyst Ken Perkins, "there is a pent up demand out there… The chance in an upside surprise in holiday sales are very good." Another analyst was quoted as saying, "frugal fatigue is setting in."

Here are a few suggestions for increasing your sales this holiday season:

  1. Introduce your Christmas inventory early (no later than November 1st). In a small survey I conducted last year, retailers who introduced holiday inventory earlier than the year before sold more. A few customers may complain it's too early, but you'll sell more as a result.

  2. Plan an early store promotion to foster the holiday spirit.

  3. Put out a holiday email sign-up sheet for customers to learn more about your store's Christmas products (be sure to reward them with something they want for divulging their email address). Make sure you tell every customer about the list and what the reward is—don't rely on a piece of a paper to do the work for you.

  4. Plan your holiday marketing campaign now. In today's competitive marketing environment, plan on reaching your customers across multiple marketing platforms (direct mail, email marketing, your website, social marketing, etc.).

  5. Emphasis your value proposition (why customers should visit your store) in every marketing outreach you make. I believe that one of the biggest reasons that consumers shop in independently owned stores is because the products are unique, the service is fantastic and the value is great. Don't be shy about communicating that message.
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2 Comments »

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  1. For an alternative point of view, please see

    http://latentview.com/leading_indicators_retail_sales.htm

    comment by Ramesh Hariharan — October 30, 2009 #

  2. [...] Brighter Outlook for Holiday Retail – On a lighter note the Specialty Retail Expert gives a more positive outlook on the Holiday [...]

    Pingback by Mobile POS Solution, Small Retail Social Media, Peak-End Rule, Holiday Retail Predictions and Tips | Retail News and Point of Sale Reviews — October 31, 2009 #

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