As summer begins to wind down, retail store owners all around the globe are working hard to make sure that they are prepared for the holiday shopping season. Before you know it, Thanksgiving will be here, and Black Friday will be upon us. Studies show that many Americans start shopping well before fall even arrives, making it more important for retailers to start stocking silver gifts for holiday sales and offer a selection of custom silver objects right around the “back to school” shopping season.
Small business owners who are approaching their first holiday shopping season may feel a bit overwhelmed. Even experienced retail store owner and managers are always looking for new ways to increase sales and ensure that they have enough quality silver items for retail stores in stock to meet the demand. While there is no secret formula or one-size-fits-all plan that can be used to ensure that you are prepared, there is a basic checklist of steps that retailers can take the do their best to be ready for holiday season sales.
Step One: Create Reasonable Goals
Gather all of the data that you can from previous years or, if you are a new business owner, take a look at your sales patterns up until now. This can help you to understand the metrics of your store, the types of items that your customers buy the most, and assist in helping you know how much stock you will need to have on hand. Your goals should include the number of sales that you want to make on a daily, weekly, monthly, and seasonal basis. Make sure that you have software in place to help you track these sales so you can use the data next year. Track everything from the type of custom silver objects that are purchased to the growth in sales of silver gifts for holiday sales. If possible, separate personal purchases from gift-buying for silver keepsake items by having your sales staff make notes for each customer.
Step Two: Upgrade Consumer Technology
What is the experience like for the customer when they come to your store? Make sure that you are prepared with the latest technology that will make the purchase go quickly and smoothly without delay. Holiday shopping is a busy experience, and some customers will just set down their items and walk out of the store if it takes too long to checkout. Ensure that your credit card process is smooth and that you have upgraded all security software. Test the checkout and payment process for yourself to ensure that everything is in proper working order. If you also sell items online, go through the checkout process there as well to make sure that the website is user-friendly and is prepared to handle a boost in traffic during the holidays.
Step Three: Establish a Holiday Experience
Without overdoing it, make sure that your customers walk into your store and know that the holiday season is upon them. Decorate tastefully and elegantly, while adding bits of whimsy to various showcases as it is appropriate. Feature your quality silver items for retail stores with the silver keepsake items that are within the same price point category. Create different showcases throughout the store for things like add-on items and impulse buys, as well as traditional silver gifts for holiday sales. Stock up on your holiday inventory, keeping an eye on current trends to anticipate what your customers will want most this season. Things that are already selling well should be stocked up, while specially branded or custom silver objects should also be made readily available to secure the sale.
Step Four: Embrace Your Loyal Customers
While every other store is trying to increase market reach and step outside their typical demographic to bring new customers into their shops, be sure to focus on your loyal customers and find ways to bring them back for more. Acquiring a new customer through traditional marketing methods will cost more time and money than continued marketing efforts to existing customers. Encourage your regular customers to come back for holiday sales, special events, online marketing offers, and personalized promotions throughout the season. Studies show that loyal customers will often spend more than 65 percent as much as new customers due to their previous history and satisfactory relationship with the retailer.
Step Five: Focus on Customer Service
Work with your team to ensure that every customer who walks through your door receives excellent customer service. Word of mouth is still the best method of advertising, so you want your happy customers to share their pleasant experience at your store with family and friends. Extra team meetings, support, and training may be in order to help your staff sell those silver keepsake items and quality silver items for retail stores. The more you can do to encourage a positive shopping experience, the better your sales will be.
Stock Silver Gifts for Holiday Sales
If you are looking for new or traditional silver keepsake items and custom silver objects to stock up your store for the holidays, look no further than JT Inman Company. We have a wide selection of quality silver items for retail stores and also offer white label opportunities to our valued retail partners who want to increase the power of their brand while providing top quality silver items to their customers. Give us a call at 508-226-0080 to discuss your needs or visit our website to browse our online catalog.