Since we spent last week preparing you for winter, we at MPG figured we will ease your pain and present you with good news.  With the holiday’s hanging over our heads, there are ways you can capitalize on the mass spending.  We are aware that if you are a business owner, you surely know that there is money to be had during the festivities around holidays.  However, you may only be thinking of big market holidays, and not capitalizing on all of them.  No, we aren’t just talking about Black Friday here.  Take a look at the list of holiday spending from 2016, provided by Born2Invest.com.

  • Winter holidays: $626.1 billion
  • Back-to-school season: $68 billion
  • Mother’s Day: $21.2 billion
  • Valentine’s Day: $19.7 billion
  • Easter: $16.4 billion
  • Super Bowl: $15.5 billion
  • Father’s Day: $12.7 billion
  • Halloween: $6.9 billion
  • St. Patrick’s Day: $4.4 billion

This list does not include Fourth of July, Labor Day, Tax Day, etc.  In fact, 145 billion was returned in 2018.  Did your business do anything to promote products or drive traffic money from your customers IRS returns began to trickle in? If your business is cash-based and you have noticed a decline in sales around tax season, there are ways to remedy that.  smallbiztrends.com lists the following ideas for driving sales at tax time:

Offer a Unique Product in Honor of Tax Day!

Come Up With a “Taxing” Catchphrase

Offer a Tax-Free Service

Position Your Offer as a Refund

Help Your Customers Relax After Tax Season

Set Up a Pop-up Shop

Run an Early Bird Campaign for Early Filers

Offer Tax Tips for Next Year

Try to get creative and think of ways to get people in the door while they are worried about tax time.  Offering a simple reprieve during stressful periods may help you reap your own rewards.  Tax season aside, the holiday season typically kicks off in October.  Many businesses assume the season begins in November.  Knowing this information, and the market trends associated with Halloween, may help you get a jump start on the competition.  

avery.com states that, “In 2018, Holiday retail sales grew 2.9 percent to $707.5 billion, according to the National Retail Federation (NRF).  “Believing that the base economy is sound, and encouraged by high consumer confidence, low unemployment and increasing wages, the NRF, however, still expects retail sales to rise to $3.8 trillion in 2019, up 3.8% to 4.4%.  So, you need to get your holiday marketing plan in gear whether the NRF forecast is right or wrong.”

If you already have a plan in place, that’s great news!  There is always more to be done though,  especially when sales seem to increase each year.  inc.com offers some great ways to try and increase holiday profits.

1. Launch exclusive holiday sales.

Launching exclusive holiday sales to your newsletter subscribers is a great strategy to grow and nurture your email list. 

2. Create a sense of urgency.

Behavioral psychologists have found that urgent situations cause people to suspend deliberate thought of procrastination and persuade them to act quickly. Creating a sense of urgency is a great way to entice your customers to purchase your products during the holiday season.

3. Seasonalize your social media properties

If done right, social networks can be a huge asset for your business to promote your holiday sales. Updating your social media properties with a holiday feel is the best way to keep your brand relevant in the holiday season.

4. Be creative with your promotional campaigns.

-Offer a personalized combo. Create a personalized holiday combo for every individual customer.

-Create a holiday gift guide. Help your customers find the perfect gift with a holiday gift guide.

-Offer free shipping. Offer free shipping and free holiday gift wrapping. If you sell low-priced items, you can set a minimum-spend threshold for free shipping.

Whether your shop is online, in a mall, standalone, or located in a shopping center, there are always way to entice guests to check out your goods.  By using some of the tips presented above, you may see a huge increase in sales compared to times when you have not run a marketing campaign.  So, what are you waiting for?  The season is nearly upon us!