As the holiday season approaches, consumer spending is expected to rise. Even more promising, nearly 50% of shoppers prefer to visit physical stores to “assess products first-hand,” according to a recent Accenture Holiday Shopping survey. In this guide, we share three strategies to help your small business make the most of this shopping season.
Tip 1: Participate in Small Business Saturday
Small Business Saturday is happening on November 30, 2024! This special day highlights the importance of supporting small, local businesses. With proper planning, you can make it a standout day for your business. Here’s how to prepare:
- Get free Small Business Saturday marketing materials: Access sample posters, social media resources, and decals.
- Become a Neighborhood Champion: Rally your community around supporting local businesses.
- Check out the SBA’s “10 Tips for Small Business Saturday Success:” A valuable resource for maximizing the day’s impact.
Tip 2: Create Value for Customers
While price and value are top of mind for many, 70% of shoppers feel overwhelmed by choice and worry about “buyer’s remorse.” Here’s how you can help ease these concerns and create value for your customers:
- Empower your team to offer expert guidance: Inspire shoppers with knowledgeable associates who can make personalized recommendations.
- Create curated gift bundles: Convenient, ready-to-go bundles make holiday shopping easy and appealing.
- Leverage personalized marketing: Use targeted messages to drive store traffic and encourage repeat visits.
Gift cards are also in high demand, with 40% of shoppers planning to buy them this year. Many customers don’t redeem the full amount, with an average of $100 left unspent. Consider these tips for maximizing gift card sales and customer loyalty:
- Offer both physical and digital gift cards.
- Make balance checking easy.
- Customize gift cards with personalized images or messages.
- Send reminders about unspent balances to encourage follow-up purchases.
Tip 3: Get Creative
Consider these creative approaches to stand out even more this season:
- Collaborate with neighboring businesses: For example, partner with a local café and offer a discount when customers visit both your store and the café.
- Offer in-store incentives for online visitors: Provide a special discount code on your website for those who make an in-store purchase.
- Host holiday-themed workshops: Events like DIY holiday decor workshops or gingerbread house-making sessions bring in foot traffic.
- Set up booths at local markets: Farmers’ markets and holiday fairs can be great ways to reach new customers.
Take Action Today
Get started today by connecting with your local SBDC advisor or exploring our recommended resources. Together, let’s make this holiday season a success!
