With Christmas around the corner, VistaPrint has unveiled new research, revealing 17% of SMB owners are nervous, apprehensive (17%), and overwhelmed (15%) for the festive season.
While the holiday season is a huge revenue booster for SMBs, there’s no denying it can be equally challenging with an influx of shoppers, larger demands, and managing financial pressures. This is why we feel these stress-managing tips and tricks might be of interest to your readers, with small business owner case studies to support.
We spoke to SMB owner Sandra Todd from The Untypical, who runs an online business specialising in crafting unique gift boxes using products from other Australian small businesses. Additionally, Chloe Yuen, from EMI Creations, who sells original amigurumi designs and handmade crochet pieces, let us in on how she successfully navigates the festive season.
Some of their tips and tricks include:
- Get prepared and start planning well in advance
- This could include creating a detailed timeline that involves tasks such as inventory assessment, staff numbers, and marketing campaign planning.
- Keep up with gift trends and social media trends
- Identify popular products and leverage social media platforms to engage with your audience, staying attuned to trending topics or items and incorporating them into your marketing strategy.
- Ensure you have plenty of stock
- Mitigate the risk of running out of stock by carefully managing your inventory. This could involve analyzing previous sales data, anticipating demand for specific products, and ensuring ample stock numbers.
- Book in any Christmas markets at least 6 months in advance
- Proactively book Christmas markets at least 6 months in advance. Otherwise sign up at the earliest time that the dates are released.
- Plan for key sales dates
- Keep a note of key sale dates in the lead up to Christmas – such as, Black Friday, Cyber Monday, 11:11, and Boxing Day sales. Tailor your marketing campaigns and promotions around these dates, with exclusive deals or incentives to capitalize on increased consumer demand during the busy periods.
