For many of us, Christmas still feels like it’s a while off; but for retailers, hospitality businesses, and salons, the hard work is already beginning. It can be one of the most profitable periods of the year for consumer businesses.
Our Christmas spending hit the £50 billion mark in 2017, according to stats reported by the Centre for Retail Research. We spend more on Christmas gifts than any other European country. Despite the ease of online shopping, 62% prefer to do the majority of their buying in bricks and mortar shops.
People are ready to start buying in November
There’s also a growing trend for post-Christmas spending, as some give IOUs for Christmas and buy during the sales. Once Christmas is out of the way, we also increase spending on ourselves, particularly on beauty treatments, hotels, and restaurants.
‘Book now to avoid disappointment’
Just because consumers do the bulk of their shopping in late November/early December, doesn’t mean they haven’t already started planning. The ‘scarcity effect’ can be a valuable marketing tool, encouraging customers to buy or book now, or face disappointment later.
For salons and restaurants, this works especially well. Most restaurants and bars begin advertising their Christmas menus and parties in at least August/September. Salons will also push their Christmas and New Year appointments months in advance, encouraging their customers to book early.
The importance of clever advertising
Retailers should deck the halls. Around 75% of shoppers like window decorations, themed displays, and seasonal details. It encourages them to spend more time in your shop.
It’s also particularly important for restaurants, bars & hotels to be event friendly. Advertise your function rooms and menus for office Christmas parties, and anyone who doesn’t like cooking and has visiting relatives to entertain.
Salons should also consider sending their booking reminders out now, and promoting specific Christmas appropriate offers to fill their appointments fast.
Take Christmas preparation in your stride
Automation technology and other business tools can be invaluable during the Christmas period. They can help you calculate the value of every booking and purchase, send out marketing emails to customers, and upsell and cross sell to the right customers effectively.
Flexible finance from Capify can help your business invest in tools to help manage stock and logistics, hire extra staff, and make Christmas and New Year as profitable as possible.
The Merchant Cash Advance is perfect for businesses that accept credit and debit card payments from their customers. You can raise up to 150% of your average monthly credit and debit card sales to pay for essential Christmas preparation, from fairy lights to a state of the art POS system.
Find out how much you could raise for your business today.Get A Quote