What percentage of your annual sales happen during the holiday season?
How critical is it for you to get everything just right this time of year?
We want you to be a big winner.
So check out these mistakes – and make sure you avoid them at all costs:
1. Inadequate Preparation for the Sales Volume
Amazon – yes Amazon – even had this happen to them. It actually happened on one of their own holidays, “Prime Day,” which was Monday, July 16, 2018.
Fortunately, they minimized the damage to their sales by cutting off all international traffic and by launching a backup front page to their website.
We won’t name other names, but every other major retailer has found themselves unable to handle demand on the biggest holidays of the year (for at least part of the time).
So, no matter where you sales come from, online or off, make sure you have the infrastructure to support your anticipated sales. You might even consider going overkill.
2. Letting Your Guard Down on Fraud
You hear about the big companies getting nailed by hackers because the stories sound so amazing and sensational and make for great headlines.
However, smaller companies are more frequently the target for hacking and fraud.
Because fraudsters know they typically don’t have as sophisticated of security measures in place.
They’ll have an easier time committing fraud and getting away with it.
So, don’t underestimate the likelihood that you become a target.
3. Not Being Prepared to Ship Fast
Deloitte’s 31st holiday retail survey (released in 2017) revealed that shoppers’ primary concern was shipping.
Okay. That makes total sense.
Do you have the logistics systems in place to ensure your customers get what they want when they want it?
Another one of consumer’s top concerns was to have a good shopping experience online because they want to save time by not going to the store.
The two tie together well.
So, are you prepared to meet customer shipping expectations? Do you have metrics in place to measure how well you do?
4. Succumbing to Overwhelm and Doing Too Much
Look, retail in 2018 isn’t easy.
We’ve given you more suggestions than you can tackle in just one holiday season.
So, how can you prioritize the 1-2 things which will make the greatest impact on your business this year?
And can you prioritize the other areas you need to improve going forward?
With so many moving parts, it’s easy to spend too much time focusing on the wrong thing.
For now, can you create a prioritized plan that doesn’t spread you too thin?
Regardless, with consumer budgets fairly healthy and sales expected to increase, you’re set up for a successful 2018 holiday sales season.