As we race towards the Christmas break, many small business owners are bracing themselves for what can be the busiest few weeks of the year.
Australian shoppers spent $36.9 billion in December 2023, according to the Australia Bureau of Statistics. This holiday season will likely see customers hunting for value, as they seek to enjoy the festive season whilst managing their household budgets.
If you’re keen for your business to score a decent share of the spend, you’ll know it pays to be organised, ideally well in advance. Small business author Andrew Griffiths shares some tips to help you capitalise on the seasonal surge.
Sort your staffing
An uptick in foot traffic and sales likely means you’ll want more hands on deck. If you’ve not already done so, it is a good time to consider locking in your regulars and recruit the Christmas casuals you need to support them. Where you can, look for experienced operators who can handle the pressure and provide top notch customer service.
“Over-estimating your staffing needs will allow you to make the most of the opportunity the festive season represents,” Griffiths says.
“Arranging sufficient coverage is vital and so is having a back-up plan, in case someone calls in sick or is unavailable at short notice.”
Manage your stock
You can’t make additional sales over the holiday period unless you have something to sell. Knowing your suppliers’ stock levels, ordering deadlines and delivery schedules will help you ensure the shelves aren’t bare and you’re not scrambling for ingredients, stock or other essential items at the eleventh hour.
“Planning ahead is the key to avoiding last minute chaos,” Griffiths says. “Reviewing the previous year’s trading patterns should help you determine the inventory you’ll need over the next few weeks.”
Make marketing a focus
With competition for the Christmas dollar as stiff as it’s ever been, finding ways to make your small business stand out can be very useful.
Bold, creative marketing can help you do so, and it doesn’t necessarily have to cost you big bucks. Consider creating time-limited holiday offers for your social media followers.
Use storytelling to showcase how your products or services can make customers’ holidays more special and don’t be afraid to use video to bring your brand to life on popular platforms like Insta and TikTok. The key is to be authentic and connect emotionally with your audience by making them feel like they’re part of something special this holiday season.
Communicate with customers
Most people enjoy a surprise but not if it’s turning up at their favourite store or venue to find the doors bolted and the closed sign out.
If you’re making changes over the holiday season – to your trading hours, menu or prices, for example – it’s important to let customers know about them in plenty of time, via email, SMS, your web site and socials, or a good old-fashioned sign in the window.
Cover for whatever comes next
If it’s been a while since you reviewed your business insurance, the run-up to the holiday season may be a good time to do so. Your Steadfast broker can help you determine whether the cover you have is appropriate for your needs, now and in 2025.
Important notice - Steadfast Group Limited ABN 98 073 659 677 and Steadfast Network Brokers
This article provides information rather than financial product or other advice. The content of this article, including any information contained in it, has been prepared without taking into account your objectives, financial situation or needs. You should consider the appropriateness of the information, taking these matters into account, before you act on any information. In particular, you should review the product disclosure statement for any product that the information relates to it before acquiring the product.
Information is current as at the date the article is written as specified within it but is subject to change. Steadfast Group Ltd and Steadfast Network Brokers make no representation as to the accuracy or completeness of the information. Various third parties have contributed to the production of this content. All information is subject to copyright and may not be reproduced without the prior written consent of Steadfast Group Limited.
Find a Steadfast Insurance Broker near you
Important notice - Steadfast Group Limited ABN 98 073 659 677 and Steadfast Network Brokers
This article provides information rather than financial product or other advice. The content of this article, including any information contained in it, has been prepared without taking into account your objectives, financial situation or needs. You should consider the appropriateness of the information, taking these matters into account, before you act on any information. In particular, you should review the product disclosure statement for any product that the information relates to it before acquiring the product.
Information is current as at the date the article is written as specified within it but is subject to change. Steadfast Group Ltd and Steadfast Network Brokers make no representation as to the accuracy or completeness of the information. Various third parties have contributed to the production of this content. All information is subject to copyright and may not be reproduced without the prior written consent of Steadfast Group Limited.