Unprecedented, unpredictable, and new normal: These terms have been tossed around a lot this year. Winter is coming and with it the holiday season. Whether you work in retail or shop retail during the holiday season, one thing is for certain: This upcoming holiday season will be one to be remembered.
Unsurprisingly, this year is looking rough. Nearly 70% anticipate fewer sales than last holiday season and 33% of those think their sales will decline by 50% or more.
So what does this mean for you? Well, you may have some difficulty finding what you need from suppliers so make sure to stock up on what you need. According to surveys of over 1,300 retailers, 59% plan to spend less on inventory, and 40% are experiencing difficulty in receiving their inventory on time. This means that you should prepare and work together with colleagues to meet the demand of your clients’ at-home product regimens. Preparing customized at-home skincare kits is a great way to remain connected with your clients.
When the pandemic hit earlier this year many local businesses closed and consumers began buying from online stores more and more. Little human contact and the quick delivery were precisely what consumers were looking for in regards to shopping. This shift, while necessary for some, left many small businesses hurting. This is an impact that most consumers and businesses alike are still experiencing. Safety is still a top concern for consumers and this is the key point that small businesses need to hit. The following are some examples of what you can do:
- Highlight safety precautions your business implemented
- Offer contactless delivery for homecare products
- Perform virtual skin consultations
- Host virtual events like educational “Happy Hours” and “Coffee Breaks”
What else can small businesses do to survive this holiday season? Don’t sleep on marketing! In times of uncertainty, most small businesses mistakenly pull back on marketing and advertisements. To accomplish success in this digital marketing day-and-age requires education on the most up-to-date information and building upon your brand’s creativity and uniqueness. Let your customers know you’re still there and, most importantly, that you are a real person standing behind your business’ name.
According to research, 92% of retail businesses have adjusted their business models to try and adapt to the new normal. By adding contact-free pickup, delivery, and online capabilities, they’re trying to make it safe and easy for consumers to continue to do business with them. Adapting quickly is key to surviving. While this is great information to hear, yes, consumer behavior is so used to the contactless and robotic-like buying experience. Your clients are just like you. They’re craving genuine, personable interactions. Deliver this experience to them and they’ll support you through thick and thin.
Share this post with your Facebook friends! Give them your opinion about these 2020 holiday trends. Ask them how they are preparing for the holidays? Are they purchasing holiday gifts online? Are you? Converse and connect!