Great Holiday Sales Start by Taking Inventory

For many retailers, it has been a challenging year with many ups and downs. Unfortunately for many businesses they have been mostly downs. Right now, retailers are looking forward to the possibilities that November and December results may bring however like any other months, preparation is key to holiday sales success.

If you want to make the most of sales this season, it’s time to take inventory on more than just the goods and/or services you sell. Ask yourself these 7 questions to determine if your ready for the holiday season rush.

1. Do I have the right number of staff to meet customer demands?
2. Are my employees eager and enthusiastic to meet their seasonal sales goals?
3. What changes have you made to your merchandising displays to attract consumers?
4. What products are key to your holiday sales success? Do you have enough of them?
5. Have you visited your competitors lately? How often will you visit them this season?
6. Prices and Promotions. Are you competitive in relation to current market conditions?
7. Staff Incentives. Are you going to reward your staff for exceptional performance?

All of these questions need to be answered as soon as possible. If you cannot answer confidently to all of them, you will most likely leave money on the table this season.

I want to focus on the first 2 questions for a moment by sharing a recent conversation. A few weeks ago (Late September) I received a call from one of my clients to ask whether I thought it was a good idea to double their staff for the holiday shopping season using seasonal hires. This is a common retail practice this time of the year however my first question to her was “How are your current employee’s attitudes”? “Are they positive, excited and executing your plans”? Almost instantly she said “well, most of them seem to be into it”. My response was “looks like you got your work cut out then”.

I know my response was short and a bit condescending however; the truth of the matter is that this retailer was obviously not 100% satisfied with it’s employees and has now left it to the last minute to do her hiring. Chances are that this retailer will not convert at a high rate and thus will not make the sales and profit they need this season.

Don’t get me wrong, the other points are also very important however we all know that having an eager and energized team is what will drive your holiday season sales over the top. So in closing, take inventory of your frontline, take appropriate action and reap the benefits this holiday season.