Edge Retail Academy Blog

Holiday Tips #3 of 3

  • STORE – Train ALL of your staff to follow a checklist each morning and evening: dusting, tidying, eliminating clutter, replacing lightbulbs, restocking, etc., to make sure your store is fully ready for sales and offers the best experience for your customers. The store is busier now and generally brings in a significant portion of your holiday sales. Make sure you’ve remerchandised to fill any holes and to refresh your cases.
  • SALES – Focus on upselling and add-ons with your staff. Try showing a few pieces that are slightly over the suggested budget. Suggest complementary pieces and be sure to ask your customer who else is on their gift-giving list. Tip: you’re offering great service by helping your customers shop in one place. At your team meeting, review your turnover strategies and role-play to make the most of every opportunity. Every person that walks into your store is a possible sale! Have fun by initiating contests (largest sale, highest ticket, most units, most add-on’s, etc.), to keep things fun and exciting for the staff.
  • MARKETING – Edge users: review your “Why In” report frequently to track your marketing. While most advertising is set, you may identify that certain emails or social media marketing is effective in driving sales, or ineffective, and you can modify your digital marketing accordingly. Feature in store/stock items. Make sure your message has a sense of urgency and a call to action. Schedule your last week of posts for your social media such as last minute gift ideas. Recognize your faithful customers by sending out small holiday gifts to them. Keep a supply on hand in your store, to give away to your regular customers. People often want to reciprocate so this can lead to more sales!
  • STAFF –Share your month to date figures. Celebrate any and all wins! Schedule food deliveries for your team. Share your appreciation for their hard work.

After Holiday Tips…never too early to start thinking about!

  • FINANCIAL – Chances are you will have more money in your bank account after the Holidays, so you need to make sure you spend it wisely.
    • Set aside enough money for sales tax and federal and state income tax
    • Pay off debt – credit cards, vendor debt and interest bearing loans
    • Start an emergency fund for 2017 worth 3 times your monthly expenses
    • Invest your money – max out your 401K
    • Take a distribution or bonus from the company after the first 4 above have been accomplished

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