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How to maximize store sales during the holiday season

Guest post by: Deepak Vora

Article Overview: The big question everyone is asking these days is if retailers are ready for the upcoming holiday season. There have been numerous predictions and discussions on how malls and retailers are going to fare. An article in the Wall Street Journal last Tuesday mentioned that forecasters expect a better season for U.S retailers this year, but prices will be more discounted to get consumers into the stores. Another article mentioned that the National Retail Federation expects holiday sales to rise 2.3% from last year. And The International Council of Shopping Centers predicts holiday sales to increase anywhere from 3% to 3.5%. The Corporate News Headline in the WSJ on Thursday was, “Malls begin the healing process, vacancy rate improved for the first times since 2006.” So, things seem to be looking up – BUT, are they?

How to maximize store sales during the holiday season

The big question everyone is asking these days is if retailers are ready for the upcoming holiday season. There have been numerous predictions and discussions on how malls and retailers are going to fare. An article in the Wall Street Journal last Tuesday mentioned that forecasters expect a better season for U.S retailers this year, but prices will be more discounted to get consumers into the stores. Another article mentioned that the National Retail Federation expects holiday sales to rise 2.3% from last year. And The International Council of Shopping Centers predicts holiday sales to increase anywhere from 3% to 3.5%. The Corporate News Headline in the WSJ on Thursday was, “Malls begin the healing process, vacancy rate improved for the first times since 2006.” So, things seem to be looking up – BUT, are they? Last week, the Conference Board’s consumer confidence index unexpectedly plunged to its lowest reading since February. Friday’s job numbers were dismal and the payroll dropped by 95,000 in September. This holiday season is going to be extremely competitive and the retailers will have to use everything in their bag of arsenal to get an edge over the competition. Here are 3 suggestions to maximize store sales for the holiday season. 1. Clean Up!!!! Costs saving measures in this recession have impacted every area of operation including maintenance. The wear and tear is visible everywhere. It doesn’t cost a fortune to touch up paint, clean the carpet and light fixtures and replace lamps. Old light fixtures make the stores and the displays look drab and not as appealing as those of the competitors, which are brightly illuminated. Many utility companies are offering rebates to switch to energy efficient fixtures and this may be a great opportunity to upgrade the lighting with minimal cost and save operational costs for years to come! 2. Patience is not a virtue! Time is something that’s in short supply these days. 140 character Tweets, Smart phones with a multitude of applications and text messaging has made it possible to access anything, anywhere and anytime. Instant gratification is the name of the game. In the same way retailers have to entice clients with great service, which at one time was limited to upscale retailers. Shoppers tend to go where they have a good shopping experience. Translated, that means short lines at cash registers as well as fitting rooms and a well merchandised store where shopping is made easy! Retailers who deliver will thrive. Extra portable fitting rooms and P.O.S systems will reduce wait times across the board. 3. Be Creative! With everyone busy during the holiday season, the one aspect that that gets overlooked is the opportunity to reinforce the “Brand Identity” of the business. Holidays are the times when malls have maximum traffic. Lots of people are going to be eyeballing the stores and this is the best time to let everyone know who you are and what you stand for. Work with your visual merchandiser to convey the essence of your brand – with window and merchandise displays throughout the store. The store should resonate with regular as well as potential customers. It would be a waste not to take advantage of this busy time. With very little effort and lots of creativity the stores will be ready in no time and happy shoppers will spread the word faster than you can fill your shelves. If retailers implement these three simple steps it will certainly be a very Happy and Holiday Season!!!!!!

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  Happy Holidays!

Article Tags: Brand Identity, consumers, holiday sales, malls, merchandise displays, retailersholiday season



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