BEAT THE COVID BLUES!
GET READY FOR CHRISTMAS!
I am sure you will agree that if 2020 was a larger it would ‘probably be the worst year’ ever!! I know a slight miss quote, but I am sure you get my meaning!!
For most of us Christmas is the golden quarter, our busiest time of the year and the most profitable, so it is important to get your products out there
This is not the time to keep your products a secret !
But how do we manage it when there is still so much uncertainty. Well I don’t know about you but I like to work on the facts so firstly let us look at what WE DO KNOW.
- Christmas will still be on December 25th
- People will still want to celebrate it – probably more than ever after this year
- The furlough scheme finishes in October, so unfortunately there will be redundancies
- This will mean there will be less money to spend on the high street
- Retailers will have a smaller budget to spend this year
- There are NO tradeshows this year, so retailers will have to order in a different way (see our Trade Directory as one option)
- Most shops have been open since 15th June
- The retailers are now talking about ordering for Christmas
- Consumers are buying more and more online
We have the facts so now it’s time to act!
As we know there are no trade shows this year, so we need to make our products visible, so trying a different approach may work.
- Print more brochures and post them to all existing customers
- Create a newsletter at least once a month
- Offer your customers a Christmas offer, something they can’t resist
- Call your best customers to find out how they are doing
- Be prepared to be flexible with minimum order quantities if possible
Minimize your risk
With less money to spend on the high street and reduced buying budgets you may need to look at how you can minimise the risk and ensure you are not left with lots of stock after Christmas.
Here a few things you can look at to help reduce the risk:
- Do not launch the entire Christmas range this year – hold some of the new products back for next year if possible
- Get pre-orders before going into production, that way you can make to order reducing how much stock you will be left with.
- Look at production costs – can you do it cheaper?
- Reduce minimum order quantities where possible – this will give the retailers confidence to buy as they will not want to be left with surplus Christmas stock either
Look at your consumer offering
With more and more consumers buying online look at what you offer consumers, this is a profitable area as the mark up is high and sometimes forgotten
- Send a newsletter to your consumer customer base at least once a month
- Create product bundles – only do this if it is profitable to do so
- Look at the customer experience for buying online
Stay positive this is a massive learning curve for all businesses and we know that your products are amazing, and you have the determination to succeed. Hang in there and keep going and stay focussed. This is your time to prepare and stay in touch with your customer base as if you get it right now and stay visible you will reap the rewards in the future.
Find other simple to apply tips
Would you benefit from working and chatting with other like minded designers in a closed facebook group?
Practice things, ask those really silly embarrassing questions that we think we should know but don’t and have someone that will hold you accountable when you don’t do the things that you keep saying you will? Comments would be greatly appreciated – tell us how we can help you and we will do our best to find a solution.