It’s that time of year. The weather is getting cooler and people are reaching for their sweaters and seasonal lattes.
As a retailer, this time of year also means getting prepared for what’s to come: the holiday season!
Holiday Promotions for Your Small Business
Black Friday, Small Business Saturday, Cyber Monday, and the craziness that is the holiday season is right around the corner. To get ahead of your competition, you’ll want to strategize your game plan now.
Retail is more competitive than ever given the changes in the shopper experience, so you want to make sure your small business stands out from the crowd. There are several pieces to this puzzle (which we highlight in our free retailers’ guide to the holiday season) but let’s start with the most important: holiday promotions.
Not sure where to begin? Let’s dive into four retail holiday promos you can offer your customers this year.
1. Scratch-Off Coupons
Whether you hand them out for a couple of weeks leading up to Black Friday or pass them out as people enter your storefront day of, scratch-off coupons are a simple way to get people interested.
You could also utilize scratch-off coupons for Small Business Saturday, or even Christmas Eve, when you know business will be slower.
Your scratch-off coupons can offer:
- A percentage off an item
- A dollar amount off an item
- A percentage or dollar amount off an entire purchase
- A free gift of specific value
When it comes to the percentage and dollar amounts, we recommend making them varied, which adds another element of surprise. Customers have no clue what they’ll get!
If the most you can win is 50% off, for example, consider promoting your scratch-off coupons that way.
You can get up to 50% OFF your entire purchase! Come grab your scratch-off coupon in-store at midnight on November 27 for a chance to win. Only one scratch-off coupon per customer. Limited supply.
No matter what regulations you set in place, be sure to state them clearly and be transparent about any exclusions.
Overall, this is a fun and easy way to engage customers — so give this holiday promotion a shot!
2. Gift Card Discounts
Most buyers are already on the hunt for gift cards, so why not entice them to buy a few more?
Some gift card holiday promos include:
- Take a percentage off all gift card purchases
- Give customers a coupon to use at a later date when they buy a gift card of $50 or more
- Buy one gift card, get one free (of equal value)
- Buy a gift card worth $25 or more and get a free gift
Gift cards are win-win. People buy them for their loved ones if they’re not sure what they want, and they buy them for themselves to use a later date if there’s a good deal.
As a retailer, you know there’s a huge uptick in store traffic in the new year. Part of this traffic comes from returns and exchanges, while the other comes from gift cards. Once family time is over, people are ready to shop and find themselves something good.
Plus, while this isn’t the goal, so many gift cards go unused. Whether there’s a remaining balance on the gift card or it gets misplaced, there’s nothing to lose on your end. The truth is, people get so many gifts from friends and family this time of year that they tend to forget they have them.
3. Product Bundles
You can easily hit your holiday season UPT (units per transaction) goal by bundling some of your products together.
Even people who come in with one item in mind may end up purchasing more than they planned to if they’re getting a good deal!
Try some of these bundle-focused holiday promos:
- Buy two sweaters and get one free
- Get 20% off when you bundle five tools (of specific brand)
- Spend $60 or more on indoor plants and get a large planter for free
- Mix and match six bottles of wine and get 15% off
You can even be strategic about which products you’re pushing people to bundle together. Do you have a surplus of craft beer? Is there a shoe style or color you’re struggling to sell?
Bundling not only gets customers excited, but it helps you move products that you wouldn’t sell quickly otherwise.
4. Exclusive Discounts
Get creative with exclusive discounts! Retail holiday promotions can include deals you don’t offer any other time of year, and they can be a good test run.
Have you considered introducing member-only perks? Give it a shot for the first time this year! Perhaps members (customers who have given you their email address) are the only ones to receive a special coupon of higher value.
Or if you don’t typically offer student, military, or senior citizen discounts, maybe you do for the holidays. These groups will love feeling included, especially when gift buying can be hard on the wallet.
Here a few other exclusive holiday promo ideas:
- Give other small business owners a special discount
- Award discounts/gifts on social media to push people to follow and engage with your accounts
- Hand out special coupons to the first 25 people who walk into your store after a certain date/time
Exclusive offers can seriously get holiday shoppers excited.
It’s like getting a free surprise from your favorite small business on your birthday. It’s fun, personalized and all about you. Take advantage of those warm and fuzzy feelings with your holiday promos this year.
Preparing Your Small Business for the Holiday Season
The holiday season is about more than retail holiday promotions, of course. There’s shop hours, signage, storefront decor, and even more to prepare.
Now is the time to get ready for Black Friday, Small Business Saturday, and the shopping craziness through the new year. But the good news is you’re not alone!
Get insider tips specific to your small business in our free resource, The Retailers’ Guide to Black Friday, Small Business Saturday, and the 2020 Holiday Season.