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10 Tips to add that extra bling to the festive season sales and profits
1. 10 Tips to add that extra bling to the
festive season sales and profits
2. Add that extra bling to the festive season sales and profits
There is a lot retailers can do to
bank more sales and boost
profits during the festive season.
The key is to be proactively
prepared.
3. Why Omni-channel is necessary?1. Have enough product on hand
Plan for sufficient buffer stock to
meet the targeted sales volume
for the season.
Keep the warehouse inventory
handy and the display amply
stocked so customers have feel
spoilt for choice.
4. Why Omni-channel is necessary?2. Focus on cross-selling and upselling
Identify which potential products
can be coupled for sales to add
value to a sale (cross-selling) and
products that have big-ticket or
upgraded models that can be
suggested for customers to
consider (upselling).
Slow-moving items can be
offered as complementary
products or repackaged as a
special buy in combination with
best-sellers to get the slow
movers out the door.
5. Why Omni-channel is necessary?3. Stand apart from the competition
Highlight the most distinctive
features of the mainstream
merchandise with the right
communication or offer some
new and unique products that
cannot be found elsewhere, to
attract the attention of curious
customers looking for the latest
in the season.
6. Why Omni-channel is necessary?4. Deck the stores to a “happy place” to encourage sales
Set the festive ambience at the
stores with the right
paraphernalia to match the
season – merchandise displays,
lighting, colours, music and such
other means to delight
customers.
7. Why Omni-channel is necessary?5. Collect all the customer data you can
The festive season will bring in new customers.
Capture every customer’s data.
Track and analyze their buying behavior and preferences to spot which products
are trending up and which are getting eluded to be able to personalize offerings
and boost loyalty.
8. Why Omni-channel is necessary?6. Know your customer
Know what customers are really
looking for in terms of shopping
experience in the festive season.
Take the time and effort to ask
questions and receive actionable
feedback from all channels.
Understand the demographics of
the region and choose your
product offerings accordingly.
9. Why Omni-channel is necessary?7. Keep product knowledge a priority
Make sure in-store salespeople know the product features and benefits
thoroughly.
Store staff should be well versed with the technology at the counters to be able
to service customers faster.
Ensure product features and USPs are clearly highlighted for easy reference.
10. Why Omni-channel is necessary?8. Improve customer service
Focus on customer centricity by understanding customers better and then
servicing them accordingly.
Employ technologies to enhance customer service particularly during peak
business periods and to ensure safe transactions.
Enhanced customer experience can help induce repeat purchases.
11. Why Omni-channel is necessary?9. Plan for the last-minute frenzy
Employ the right skills and
technologies to handle in-store
as well as online traffic on the
e-commerce website.
Keep the supply chain engine
running through the season to
ensure sufficient stock is always
handy through careful planning
and allocation of stocks across
all retail touch points.
12. Why Omni-channel is necessary?10. Manage finances to last the season
Plan the pre-season stock
allocation and in-season
procurement of inventory to
last through the entire festive
shopping season, which is
starting earlier and lasting
longer each year.
This makes it crucial to handle
budgets accordingly.
13. Every year, 50,000 retail associates use ETP to serve 150,000,000 consumers, selling
USD 5,000,000,000 of merchandise. More than 300 brands in over 20 countries,
across 10 time-zones, in 200 cities, at 25,000+ stores, in 5 languages run on ETP.
Australia, Bahrain, China, Egypt, Hong Kong & Macau, India, Indonesia, Iraq, Jordan, Kingdom of Saudi Arabia, Kuwait,
Malaysia, Oman, Qatar, Singapore, Thailand, The Philippines, Tunisia, U.A.E., Uzbekistan, Vietnam and Yemen
www.etpgroup.com