"According to the latest figures, 21.16 million transactions are expected across the weekend before Christmas (2.96% more than the previous year), with UK consumers set to spend £24.6 billion over this year's Christmas period. Navigating a busy period as a business owner can be overwhelming at times. To capitalise on these busy spells and avoid missing out on revenue or damaging customer relations, you must proactively plan to meet the increased demand."
"It's crucial for these businesses to plan for temporary staffing needs, ensuring that seasonal hires are well-trained and effectively managed To make the most of these opportunities, businesses should ensure they have the right stock, review past sales to prioritise popular products, and consider short-term support such as a responsible business loan to fund extra marketing or additional stock ahead of the festive season."
"Small retailers should use this month to shout about what makes them unique. Whether that's through in-store events, exclusive discounts, or getting involved in local campaigns, now's the time to engage your community and encourage them to shop local. By taking these tips into consideration and being proactive on the financial side of things, you can propel your business forward through this lucrative period."
Holiday shopping volumes and spending will rise significantly, creating a major opportunity for retailers. Businesses should plan ahead for increased demand by arranging temporary staff, training seasonal hires, and reviewing past sales to prioritise popular products. Short-term finance can fund extra stock or marketing to maximise returns. Gathering customer feedback, testing marketing strategies, and reviewing operations during the surge can generate insights for the year ahead. Small retailers should promote their unique offerings through events, discounts, and local campaigns to engage communities. Proactive financial and operational planning enables handling mistakes, learning, and sustainable scaling.
Read at London Business News | Londonlovesbusiness.com
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