How to stand from the crowd at Christmas
It is nearing that time of year, where, in some places, snow is falling, trees are being trimmed, Christmas lights are hung and for retailers — the sound of cash registers are ringing. The steady sound of ‘cha-ching’ is sweet music to the ears of many retailers. So how then can you, as a retailer, ensure that you will maximise your sales during this holiday season?This article will identify six tips that you can use to set yourself apart from the pack:1. Start early — it is official, Christmas starts after Halloween. The American Thanksgiving holiday gets shorter and shorter every year in lieu of starting Christmas shopping early. Black Friday in some locations started at 9pm on Thanksgiving day. As a retailer this trend can prove to be beneficial. Make sure you take advantage of the early start and let your customers know what you will be offering, what discounts may be available and when.2. Capitalise on existing promotions — in Bermuda we have recently started to participate in Black Friday and eMonday promotions. As a retailer, make sure you participate in these national events/promotions. Utilise every opportunity you can to get your business name out there. This year, eMonday in Bermuda coincided with Cyber Monday in the US in an effort to give Bermuda etailers maximum exposure. Although technically Cyber Monday ended at midnight on November 26, I am still receiving promotions from etailers with Cyber Monday discounts. I guess the moral of the story is Cyber Monday ends when you, the e-tailer, say it ends — ‘cha-ching’!3. Socialise your customer’s shopping experience — if you don’t have a social media presence yet, get one! This is an opportunity for you to use social media to stay in touch with your customer base. You can offer specific promotions to encourage your “Likes” and increase your social media presence. Create opportunities for your customers to be engaged with you by offering a variety of experiences on your Facebook page like e-cards or virtual gifts.4. ‘Tis the season of giving — yes Christmas is about giving gifts to your loved ones for the most part but it is also about giving back. Create opportunities for your customers to give back to their favourite charity or non-profit organisation. By doing this you give your customer a chance to feel good about purchasing from you with the understanding that proceeds from their purchase can go towards helping someone.5. Take it to the streets — host events for your customers during the holiday season. Organise invite only shopping nights, or highlight a specific item that you want to move and create a shopping event around it. For those that do not have retail stores, create pop-up stores to create buzz around your product or service.6. Loyalty counts — make sure you reward your loyal customers. You should be keeping track of your most loyal customers and if you are then it should be easy to reward them for their continued support by providing coupons, special discounts and giveaways. This can act as a way for you to thank your customers for their patronage, but also acts as an incentive for them to purchase more. Dare I say….’cha-ching’.These are just a few ideas that you can implement to help have a happier more prosperous holiday season.Business Buzz is a monthly column presented by the Bermuda Economic Development Corporation (BEDC). Every month, read about entrepreneurship, obtain business management tips, and find out what’s going on in the small business sector.Jamillah Lodge is a business development officer for BEDC. She specialises in providing aspiring and existing entrepreneurs with business development advice and loan guarantee assistance. In addition, she manages the marketing and communications plan for the Corporation and oversees the development of a mentorship and youth entrepreneurship programme. She has a degree in Business Administration with a concentration in Marketing. The opinions expressed in this article are those of the writer and should serve a general guide and should not be considered as replacement advice from a lawyer, accountant or other professional service provider. Readers should consult with the appropriate professionals as necessary.