Christmas is looming large and for the financially shrewd shop owner, this means a whole load of money-making opportunities. From tailoring to the needs of Christmas shoppers to using the festive season for advertisement opportunities, Christmas is quite possibly the most advantageous period in a year for many businesses. Here are some tips on how your shop can get the most out of Christmas.
While the day after Christmas is the time when prices get low and competitive, shops should attempt to lower the price of as many goods as economically viable, in the run-up towards Christmas. The reason is simple, many consumers go into a buying frenzy in the weeks and days leading up to Christmas, and their needs should be taken advantage of.
For example, if I’m doing a bit of Christmas gift shopping and I see a decent bargain, I’d most probably opt for it. I know that I have to buy a few presents for a relative in my family who is to graduate soon. Since I think that I would go for graduation regalia like an announcement, I would look online to see if shops like Jostens are giving any discount on the product. If I find the price affordable, then I would not refrain from purchasing it.
Anyway, while the big high street retailers might be waiting for the Boxing Day sales to kick in and show their might, you should take the opportunity to lower prices in the run-up to Christmas and tailor for the needs of those looking for a bargain then. Additionally, you could also start selling temporary gifts or souvenirs during the season as a side hustle. By sourcing a variety of products from wholesale gift shop suppliers before Christmas and then showcasing them at checkout or a separate gifts section, you could stand to make a hefty profit.
One of the great things about Christmas, you get to advertise your heart out with festive cheer so that people can see what you have to offer from your shop. You obviously want to get the word out but you don’t want to go too overboard, this is where promotional signs and window signs from a business such as Signarama, a Sign shop in Allen, TX, comes in.
They can make you personal shop signs that showcase your stock and the deals you have, drawing people in, without you having to put up massive flashing lights saying – “MASSIVE SALE HERE!!”
So, if you are in need of some extra promotion around the holiday’s, then this might just be the way to go.
This piece of advice isn’t quite Christmassy; however it is nonetheless absolutely vital. Thousands of businesses are losing out on thousands of pounds each year due to a failure to claim tax refunds and capital allowances.
Shop owners who have made alterations, extensions or upgrades to their commercial property can claim a hefty sum in the form of a tax refund. Furthermore, those who have bought a commercial property are permitted by the HM Revenue & Customs (HMRC) to offset some of their expenditure for tax purposes.
If this is all a bit confusing, there are a variety of specialist companies that can discern whether or not you’re owed any money in the form of a tax refund by the HMRC.
Get that Christmassy feel
There’s a certain nostalgia that we all feel with Christmas. The trees, mistletoes, Santa Clauses, snow, lights, reindeers and other decorations leave us feeling like kids. Now, one of the defining features of children is the complete lack of willpower. When they want something, they have to get it.
By giving your shop a Christmassy feel, you’ll be igniting the child within many of us and this will inevitably result in an increase in customer spending in your store.
Also, Christmas decorations create a comfortable and cheerful atmosphere which is absolutely fundamental for any type of shop.