So the end of the year is approaching fast. Are you ready for it?
According to the invaluable folks at the American Express OPEN Forum, the National Retail Federation is expecting 2.8 percent growth in retail sales. That’s not a total to sneeze at, and if you’re a retailer you probably want a slice of that pie. If your small business falls into a different category altogether, you probably still want to make it a great quarter. Heck, of course you do.
There are hurdles, of course.
“The fourth quarter, which has traditionally been a catch-up for lots of retailers, has grown especially problematic for brick and mortar stores given the increase in online spending in recent years,” she says. “That means you have to figure out ways to get people into your shop—or your website—that aren’t just based on price.”
She adds, “You’ve got to make the buying experience more special. I like promotions that have to do with the season, that are short-lived, so you’re not locking yourself into permanent discounts. You also could do a promotion around getting a head start around the New Year, if that works for your clientele.”
So it’s about seizing on the moment, something we’ve frequently preached thus far this year. It’s about using your best promotions and best ideas to draw out a little extra revenue and a few more customers. Start planning today and you’ll get there more quickly than you think.