Small Businesses Gear Up For A Hopefully Profitable Holiday Season
Oct 30, 2021
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2021 is nearing its end, and while some small businesses are recovering from the financial downfall of 2020, others hang on by a thread. With the busiest and most profitable season ahead, entrepreneurs hope to drive sales, meet quotas, and stay above water. Faced with financial woes, staffing issues, and supply chain interruptions, small businesses are doing what they can to make this a favorable holiday season for themselves and their customers.Just how are they planning to overcome all of these challenges? Here’s a look at some of the growing trends.
Stronger Online Presence
If there’s anything the past year has taught local businesses, it’s the importance of having a solid online presence. With many consumers preferring the convenience and safety of online shopping, entrepreneurs are investing in the necessary technologies and digital platforms to accommodate target audiences. Some companies have created eCommerce platforms, while others have consulted with a digital marketing agency to help boost brand recognition and sales.
Same-Day Deliveries & Curbside Pickup
Not everyone is a fan of in-store shopping during the holidays. The stress of the crowds creates an unenjoyable experience. Small businesses looking to keep their customers happy have incorporated convenient services like same-day delivery and curbside pickup. Shoppers can have their merchandise delivered right to their front doors or have the items ready for pickup without all the fuss.
Local Suppliers
As businesses nationwide struggle to keep their shelves full due to supply chain backups, some entrepreneurs have turned to local suppliers to bridge the gap. By switching to US vendors and products, they can ensure that they have everything their customers need in stock and ready for purchase. Some small businesses have even increased inventory on popular items to ensure they’re prepared for the holiday rush.
Seasonal & Temporary Staff
At the pandemic’s start, small business owners had no choice but to let go of some employees. Although things have since changed, new vaccine mandates have once again caused businesses to make a challenging decision with staffing. Ultimately, entrepreneurs have started placing ads for seasonal positions or outsourcing their employment needs to temp agencies. This concept ensures that they have enough hands on deck to accommodate the crowds this year.
Holiday Event Participation
From Oktoberfest and fall festivals to holiday parades and Christmas in the park, small businesses, particularly restaurants, participate in seasonal events. Whether they’re handing out flyers and coupons or serving as vendors offering some of their best dishes, the hope is to connect with locals and encourage them to visit their stores.
Competitive Pricing & Promotions
What’s one of the best ways to beat out your competitors and attract more customers? You slash prices and offer deals that save shoppers money. While careful not to decrease profit potential too much, small businesses are giving back this year in the form of savings. Whether it’s marking down prices on hot items, offering discounts on large purchases, or buy one get one free, customers jump at the chance to save a buck or two.
Quality Customer Service
Things can get pretty hectic around the holidays, causing customer service quality to go down the drain. Employees are overworked and distracted, shelves empty quickly, and crowds cause quite the disturbance, which causes customers to take their business elsewhere. Fortunately, with more staff, local vendors, increased inventory, and multiple ways to shop, small businesses have managed to keep customer experience a priority over profits. Essentially, when customers are happy, they return and share their experiences with others.
The coronavirus pandemic has created a multitude of problems for small businesses that may take years to overcome. While some companies weren’t able to survive, others have made the necessary adjustments to stay afloat. As another year comes to a close, entrepreneurs hope to capitalize on the holiday season and increase sales. Although the jury is still out on their success, implementing strategies like those listed above seems promising.