Getting Ahead for The Golden Quarter

With this year’s long hot holiday season nearing its end, autumn, and the approaching “sweater weather” is something we perhaps don’t want to start thinking about, but now is the best time for savvy businesses to don their winter thinking caps, pour themselves a cinnamon spiced latte and start preparing for the Golden Quarter!

The build up to Christmas, otherwise known as the Golden Quarter, is when independent high street businesses traditionally see an increase in takings and preparing whilst we are still in shorts & t-shirts will support a stronger and more successful Christmas to come.

Yuletide marketing plans need to be ready by the end of September if you want to take full advantage of consumer’s spending habits at this important time of the year.  A study by Appinio shows that 29.6% of consumers start their Christmas shopping 10 weeks ahead of Christmas.

People are already browsing, mentally bookmarking gift ideas and comparing prices. What deals and discounts are you intending to offer, and when?  With the cost of living rising, the canny Christmas shopper will be looking to spread the cost and make their festive pound to go further!

So what can you being doing now to maximise this peak shopping time?

Review and plan

Look at last year’s performance, what issue did you face and what can you put in place to avoid them this year? For each key challenge you faced put in place a set of actions within your control with deadline to mitigate them before they happen.

Set clear goals

Define your golden quarter goals making them,

• Clear: realistic giving you focus, knowing precisely what you want to achieve. Give yourself a clear goal for each area of your business (stock, sales, team, marketing etc.)
• Achievable: make sure the goals you set are achievable within the team and resource you have available.
• Timed: set a timetable for actions. For example, put aside 1 hour each day over a week to create your Golden Quarter action plan. Set a completion date for when you will have merchandised your shop for Christmas or when you will have you winter menu ready to launch.

Goals are more likely to be achieved when accompanied by a plan

Plan your stock

Plan your “Christmas creep”, the popular and Christmas themed items displayed in store before the traditional start to the festive shopping season.

Increasing stock levels is crucial, don’t be caught out by best-selling items going out of stock. Be sure where cash allows to have ordered additional quantities for peace of mind you will not run out.

Look at display tactics. “Theme link” items, for example position gloves and scarfs near the seasonal favourites, slippers and hot water bottles, all popular gift choices. Think about what groups of items will sell well together to a gift buyer.

Along with your “Christmas creep”, stock new and unique finds, alongside regular yuletide gifts keeping it fresh and your customers coming back for more.

Expression Insurance gives you one less thing to worry about having season stock increase as standard. The sum insured, in respect of stock in trade, is increased each period of insurance by,

1. 25% during the months of November and December
2. 25% for a period of 15 days preceding and including any Bank or Public Holidays and for a period of 15 days thereafter other than occurring in point a)
   
   

Put impulse purchase products by till points

For queuing customers, make sure the area is organised, with well positioned, visible, lower valued items, ideal as impulse buy stocking fillers and boosting profits.

Tills points are perfect for gift wrapping essentials, sticky tape, ribbons, and tags for the prepared and not so prepared shoppers!

Introduce Christmas gift cards

Gifts cards, although not a new idea, are a great way to give more choice and enable the recipient to choose a gift they actually want!

Recent stats from the GCVA and KPMG UK, state gift cards sales have increased, with in-store sales accounting for 54.7% of purchases as consumers continue to return to the high street.

Produce gift guides

Customers love direction and help in buying gifts. Make the pressie shopping easier by creating a festive gift guide, a tailored “wish list” sparking ideas and prompting impulse purchase they never knew they needed for their partner, parent, child, or friend.

• Audience: The wish list is a guide to help customers make purchasing decisions and needs to include as an example gift for the Eco friendly
• Theme: Once you have decided your target audience you can look at the theme, for example “stocking filler eco gifts under £20”
• Product selection: Include gifts that are your top sellers or popular products. Look at consumer and market trends on what’s ‘hot’. Don’t forget when compiling your list to speak with customers, asking them what they’d like to receive.
• Images: Make sure it looks great, quality images of the products are what draws the eye
• Offer gift guide discount: Encouraging people to buy more, for example £5.00 off purchases over £50 and encourages shoppers to shop the guide
• Market the wish list: Once you have compiled your list, make sure it is visible in store and as a handout to customers, also share via,
  • Website
  • Social media feeds
  • Email customers showcasing the gift guide, include festive pictures to show you are in the Christmas spirit
    
    

Put the Christmas icing on your customer service

Showing customers, they are valued and focusing on the customer experience and service throughout the year, is an integral part of your sales strategy but by turning it up a notch or two for the run up to Christmas will help increase sales.

As shoppers search for the “holy grail” of the ideal gift, interact with them, ask who they are looking to buy for, offer guidance and advice on products that they may never had thought of but ends up being the perfect Christmas present.

Look at mobile POS as they allow you and your staff the chance to move free around the store, mingling with customers while processing transactions.

Customers are more likely to return to a shop, café or restaurant that has gone the extra mile, making them feel ‘special’ than a retailer that looks upon them as just another transactional shopper. Offer a free gift-wrapping service, an offer gratefully received by busy shoppers.

Give your business a ‘festive’ clean

Before the start of the Golden Quarter look at giving your business a festive clean.

• Remove old stock and used boxes, making sure it is spotless and welcoming both inside and out
• Ensure heating is serviced and in full working order, a warm shop, café or restaurant can be a big draw on a cold winter’s day
• Include a place to store wet umbrellas, making sure the water does not pool in the entrance leading to a slip hazard
• Don’t neglect the outside, plan monthly themed window displays, Halloween, Bonfire night and Christmas. Hold shoppers’ interest with ever changing and eye-catching displays showcasing top selling products and promotions drawing the gift hunters in, showcase your creative flair by drawing a festive scene with some chalk pens
• Pavement signs and A-board are perfect for highlighting seasonal promotions, helping attract existing and new customers towards your door. If you are planning on introducing these into your marketing mix now is a good time to check your insurance cover provides public liability, Expression Insurance can provide the specific level of Public Liability required by your individual business up to £10 million.
• Layout and signage are important in creating and enjoyable and engaging experience for shoppers.

Tell the story behind your products, where are they made, whether they are locally sourced. A local deli can talk about where they have sourced their produce, and make it even more appealing with descriptive flavours, how to prepare and what goes well with the products, creating a personal unique experience for consumers.

Ensuring your shop, café or restaurant is welcoming and safe reflects the care and attention you place on running your business coupled with ensuring customers are protected as managing any risks to those affected lie with you. Carrying out regular health and safety risk assessments will help you take the reasonable steps required to alleviate potential risks and keep customers safe. With the winter months approaching the risk of wet and slippery pavements increase, make sure measures are in place minimising risk to festive shoppers.

Partner with a local charity

Christmas is for giving and what a great time to look at working with a local charity to help raise funds and donations whilst boosting your brand awareness.

• Customers could donate at the till point
• A percentage of every sale goes to your chosen charity

Working with a charity builds brand awareness, increases footfall, unlocks new networking opportunities, and enables small businesses to give back to the community.

Transparency is key when partnering with charities, be clear with customers about how their purchases will benefit the charity. Look for legal guidance from a professional to ensure compliance.

Staff

It’s not just Santa that needs additional help at this time of the year. As your business moves into the golden quarter you will become busier. Look at current staffing levels, do you have resource for addition footfall and sickness cover. Don’t leave it until the last minute to recruit additional staff. By planning it now, you will ensure they are trained, in place, ready to provide a great customer experience for the start of the great rush.

In short, the run up to Christmas is a great opportunity for high street businesses to make the most of the increased demand. Taking time to plan will enable you to relax with peace of mind that you have given your business a huge boost for your golden quarter and a springboard launching you into a successful 2023, a real Christmas bonus!

If you want to find out more about how Expression supports independent business owners who love their business visit Expression Insurance