It might seem like it's a bit early to start preparing for the holidays, but as a retailer you know it's never too soon to begin planning for this important season. Here are some tips to help you enjoy the best holiday sales ever:
- Big data: Use your store's information and transactional histories to cater to your customers' desires. If a certain item sells well, then you've gained valuable insight into the market and can stock similar things in the future. Keeping track of buyer histories will also allow you to make recommendations based on what individuals have bought in the past.
- M-commerce: Be sure your company's website is easily accessible and translates well to a mobile device, because trend experts believe we'll continue to see mobile purchases increase in the future.
- Price match: Shoppers don't mind doing a little research to find out where they can get the best price, and you can use that to your advantage. Large-scale price matching can be tricky, though, because you'll never undercut a large chain like Walmart and you run the risk of losing profit and negatively affecting brand image. However, by participating in instant price-match rebates your business can handle one product and customer at a time, satisfying consumers and still coming out ahead.
- Showroom: The showrooming trend is continuing to generate buzz, so why not get in on the game? Customers enjoy the flexibility and efficiency of being able to browse physical products before ordering them online. This way, consumers get a real-life experience of your brand and you can save money on retail space and inventory stocking.
Before implementing these tips, make sure your company's credit card payment processor is up-to-date and can track all your inventory and customer information.