Holiday sales are a fantastic opportunity for store owners to shine. Last year, holiday sales exceeded $211 billion in just two months (November-December), and they are expected to rise each year. This makes the holiday season a perfect time for retailers, restaurant owners, and service providers to maximize revenue.
While it’s no secret that most store owners experience their busiest season during the holidays, many entrepreneurs, startups, and mid-sized businesses lack the ability to generate maximum revenue.
As inflation hit a new record in 2023, consumers have started to spend less. According to Finances Online, 41% of the consumers with income less than $50,000 have spent less in Q3. This means that businesses are likely to face more challenges during this holiday season.
So how can you make the most out of this 2023 holiday season?
Modisoft’s guide to maximizing holiday sales in 2023 is packed with tips on getting seasonal offerings just right, attracting customers, and leveraging the power of Modisoft POS to provide an unparalleled shopping experience.
So, let’s dive in to see how you can stand out and maximize your holiday sales in 2023.
1. Utilize Social Media Platforms
After Covid-19 many businesses are coming towards digital platforms to boost their sales. While it’s great to use social media platforms to speed up your business growth, without the right strategy you might fail to stand out from the competition.
The following social media tips can help you in maximizing your holiday sales.
- Generate Awareness: Customers believe in what they see, therefore it’s vital for you to generate awareness for your holiday offerings. This can lead to a massive increase in your online sales.
- Host Holiday Giveaways: Who doesn’t want something free during the busiest time of the year? That’s where you get the chance to stand out and make your brand shine.
- Give a Holiday Makeover to Your Social Account: Refresh your social media profiles by getting in the holiday spirits. You can make a holiday version of your logo or replace your account/page profile pictures with holiday-themed ones. This small addition can make a huge difference and ensure that you grab your follower’s attention.
2. Keep Your Supply Chain Flexible
Inventory management is notoriously difficult to handle, especially when the demand for your product starts to rise. During the holiday season, running out of inventory can put your business in a helpless position.
41% of the potential customers can get diverted to your competitor if they don’t find the product they are looking for.
Fortunately, these challenges can be avoided by simply keeping an eye on sales and adjusting stock levels right away. However, manual management can take time and is always vulnerable to human errors. Modisoft inventory management software can be of great use, simplifying your inventory management, so that you can focus on running your business.
3. Provide Omnichannel Shopping Experience
In 2023, it’s more important than ever to consider your omnichannel retail strategy. Whether you are running a restaurant, smoke shop, café, bakery, or managing a convenience store, you need to adapt to the new retail landscape to maximize your holiday sales.
The omnichannel approach is all about forging a seamless and consistent shopping journey that lets your customers move smoothly between online and offline channels. By creating a unified ecosystem, businesses can easily cater to the customer’s desires by letting them engage with the brand from anywhere they like.
To make it happen, you need to switch to the online system ensuring that you provide a positive and consistent experience across all of your customer touchpoints.
Modisoft products such as Cartzie, and Insights (back office), give you the peace of mind to create a seamless omnichannel shopping experience within minutes. This can help you streamline your operations, get real-time insights, track customer habits, stay updated on trendy products, and much more.
4. Start Loyalty Program
Maximizing holiday sales in 2023 is all about offering better deals and discounts than your competitors. Most business owners often neglect the loyalty program, leaving additional revenue on the table. During the holiday season, customers always look for better deals than you typically offer throughout the year.
Offering your customers a loyalty program is an effective way to entice them to shop at your store again in the future. You can create deals, start a reward point system, and let them redeem discounts.
Encourage new holiday shoppers to become your loyal customers by offering bonus rewards when they sign up for the first time. You can use Modisoft Loyalty to set up an automated loyalty campaign without the need for any extra work.
5. Enable “Buy Now, Pay Later” Option
Providing buy-now, pay-later options for your customers helps increase conversions and can allow for your product or service to be introduced to new customers.
Remember that the right payment solution can have a dramatic impact on your sales. Therefore, always provide convenience to your customers. This will also improve your brand value and give your customers the opportunity to purchase high-value products.
6. Provide Personalized Customer Experience
Having a smooth buyer experience can make or break your business. Gone are the days of people just looking for a quick transaction. Now, around 87% of customers anticipate a personalized shopping experience from the merchants.
Personalizing the customer’s journey not only builds a better and deeper relationship with your customer base but also allows you to understand their needs more effectively.
Providing a better customer experience is all about offering convenience to your customers at every step. From offering a variety of payment options to custom discount coupons, you can cater to your customers’ needs perfectly.
Since you’ll most likely be receiving more foot traffic during the holiday season, there’s no better time to make sure that your checkout process is smooth and convenient. Kiosks and all-purpose POS can help you increase customer satisfaction, loyalty, and improve sales.
Don’t Miss Out on the Opportunity to Go Big
The 2023 holiday season presents a significant opportunity for businesses to maximize sales and boost revenue. Whether you are running a restaurant, convenience store, or liquor store, you can improve your chances of standing out by implementing the above tips.
But don’t just stop there! With all of the new customers you’ll attract during this upcoming holiday season, you’ll need to have a program in place that encourages them to come back all year round. This is where you can utilize Cartzie to re-target your customers with exciting offers. Reach out to our team today to learn more!
