Are you feeling the retail stress right now? I’m checking in with you because we’re going into the fourth quarter, which can represent as much as 40% of your annual sales, and the pressure is real!
Take a moment to recognize how pressure and stress manifest in your life so you can become aware when it’s playing a part in your emotions and reactions.
Then let’s get in the driver’s seat and take charge of this season. Just like you wouldn’t go on a road trip without properly preparing and planning for it, you shouldn’t just head into this quarter without a plan. You do need to get it right this season, but you can accomplish that without the stress and the pressure, with a plan and a strategy.
Let’s look at retailers’ most common fourth-quarter concerns and break them down into smaller steps to manage your stress and keep moving forward.
Inventory planning
Create a sales goal for this quarter based on previous sales (and if you’re new, use sales projections to set a goal).
Have a plan for not running low on your best sellers — keep in touch with your vendors to stay on top of availability.
Display your holiday merchandise early. 2023 will continue the trend of consumers starting their holiday shopping earlier than in previous years.
Bonus tip: Local love is big. Find local vendors to feature in your shop!
Holiday hiring
Identify which roles and responsibilities you need to hire for. When you’re clear on who you need on your team, you will then be able to hire the right person for the job.
RETAILMavens clients have had great luck using the Facebook Jobs feature when hiring. It allows you to set application requirements, track your applications in one place and research prospective job candidates before inviting them to an interview.
Just like you wouldn’t go on a road trip without properly preparing and planning for it, you shouldn’t just head into this quarter without a plan.
Then, support your new hires by having super clear expectations on their positions, so they can support you the way you need them to.
Driving holiday traffic
Consistently grow your email list. Email marketing is still the most effective marketing strategy available to independent retailers, and it will be key to reach your customers this holiday season.
Get clear on who you are and who your ideal customer is so that your marketing is as effective as possible!
Set yourself up with a consistent marketing process so you’ll see consistent traffic and sales throughout the holiday season — and after it, too!
If you fail to plan you plan to fail
One thing I know for sure is that plans can and do change, but I also know that having a plan in the first place makes changes easier and less stressful to shift and refocus.
I’m here for you if you need some support, or if you just need a hand getting off that roller coaster. You don’t have to do this alone.
