Using Your Holiday Windfall Wisely

Using Your Holiday Windfall WiselyThe holiday season is major for retailers that want to rack up last minute sales before the calendar year ends.  With enticing holiday displays, promotions, and a strong marketing strategy, you can really boost your earnings before ringing in the new year.

The next question is, what you will do with your holiday windfall? If you’ve had a decent year, this extra influx of cash could help to cushion you in the coming year. However, it could also allow you to add some upgrades to your planned budget. Just be careful to spend wisely in order to see the greatest return on investment.

How can you make the most of the major profits that characterize the holiday shopping season when you’re planning your budget for next year? Here are a few great ways to put that money back into your business for maximum impact and needed improvements.

Upgrade Technology

Although technological upgrades may not be entirely tangible to shoppers, they can have a major impact on the overall shopping experience. These days, customers expect the many conveniences offered by up-to-date technologies, and you can accommodate with a variety of potential upgrades.

If your POS system is hopelessly outdated, sluggish, or simply not suited to your needs, it’s time to consider upgrading to a more efficient and effective system. Software that connects with your inventory and your online store is essential to tracking sales and keeping customers apprised of what you have in stock.

You should also optimize online and social platforms. The mobile-first mentality has taken over at Google, and brands that get on board benefit by having the opportunity to surpass competitors that are behind the times (at least when it comes to Google rankings).

Other technological avenues to explore could include using beacons to attract customers and personalize the marketing and shopping experience, or even adding in-store WiFi if you want to create a social atmosphere and encourage hang-outs at your location.

New Displays

If your displays are treated well, they should last for years, but with the wear and tear from your customers, they could start to look a little worn around the edges. Even if they are still in good condition after several years, they may be outdated, or perhaps they no longer match the changing image of your brand. In such cases, an update could refresh the vibe of your store and create a more attractive presentation for shoppers.

Fancy Foundations

You probably don’t spend a lot of time looking at the floors or the walls in your store. But these could really be in need of a major renovation. Consider how well your current flooring held up before deciding if you want a simple replacement or prefer a new type that is a  more durable materials. For the walls, you could just paint or add a new color or textured Slatwall panel to give your store that new look, it will also give you a variety of different displaying ideas. It is always a great idea to look at current decorating trends to see what might suit your store and your demographics.

Minor Fixes

Retail racks, signage, and even lighting fixtures can become worn or outdated with time, and while these smaller items might not be your main focus, remember that details sell the look. If you have some extra dough, consider addressing minor fixes to improve the overall appearance of your retail store.

If you are a customer who would love to use their holiday windfall and would like more information on Displays and Fixtures for your store, shop our website, Specialty Store Services, for all your retail store needs.  If you have a question that you would like answered immediately, you can Live Chat, or phone us at 800-999-0771.