Last Minute Holiday Checklist For Retailers

The holiday season has arrived

The holiday season has arrived. Have you done all you can to take greatest advantage of this biggest shopping period of the year. If you are an online retailer looking to make some profits during the festive season then double check your list of holiday promotions and strategies.

The first positive indication for retailers this year is that the economic situation around the world is far better than what it was a year back. However things are still not rosy and it is important for retailers to be prepared to face the challenging 2009 season and use precise strategies that are effective enough to rope in the maximum number of customers.

Here are a few important tips that can help online retailers profit from the festive mood .

Give customers service they cannot resist Customer service is an integral part of any retail venture. Especially during the holiday season when business is at its peak and competition high it is vital to assist customers in such a manner that they cannot resist buying your product. For small time retailers competing with large giants offering huge discounts customer service plays an even more important role. It can actually be the key differentiator that can make you stand out among other small retailers. Offer good value for the price and highlight your offer to bring it to the customers notice.

Bargain is the customer mindset today. The recent recession has resulted in the altering of customer mindset. Just a few years back people were splurging on whatever took their fancy. Today they are most careful in choosing what they need and bargaining enough to find the best price. It is clear that in todays situation whoever offers the best possible deal makes a sale. You can compete on value of the product too but paying attention to competitive pricing is the key to successful retailing this year.

Early promotions for maximum impact Many retailers online have started their promotions much earlier this year. Though early promotions need not necessarily lead to early sales you have an opportunity to establish and strategically position yourself in the market well ahead of competition.

Retain existing customers with exciting rewards Irrespective of the time of the year make sure you constantly send existing customers updates on your promotions and new products. If you already have a strong base of existing customers it is a good idea to focus on wooing them rather than spending time and effort on attracting new customers. This is vital in this cut-throat retail environment.

Identify and stock in demand products Most of the online retailers offering products with heavy discounts have limited stocks. Consumers who wait to buy towards the end of the season and are looking for certain specific products are left disappointed and must search hard for what they want. This is the time to cash in on demand and sell products that have gone out of sale in major retail shops. Stocking products that are in demand is therefore one of the strategic methods of successful online retail.

So ask yourself the question are you ready for the holiday season? There is still time.

by: Jane Dawson

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