Holidays are often filled with big crowds, big plans, and big celebrations. But when it comes to shopping, many Americans like to keep it small. November 26th marks the 13th annual Small Business Saturday—a day that encourages consumers to support local and small businesses.
Today, 54% of shoppers are spending at small businesses at least once a week, with 42% frequenting these businesses more now than before the pandemic, according to the most recent Small Business Consumer Survey from ICSC.[1] How do small businesses keep this momentum going to maximize revenue potential before, during, and after the event?
Smart retailers can follow these suggestions to keep customers coming in and coming back, throughout the holiday season:
Make It Easy
Investing a little time beforehand to streamline the shopping experience can yield big results. Equip store associates with mobile device capabilities, so they can easily provide product information, locate inventory, and help customers with on-the-spot checkout right in the aisles.
Up Your Online Game
Small Business Saturday doesn’t just happen on neighborhood streets—eCommerce continues to thrive. In 2021, 58% of shoppers reported making a purchase online on Small Business Saturday, up from 56% in 2020 and 43% in 2019, according to American Express.[2] Even shoppers who plan to eventually come into the store to purchase often review products online first. Be ready for this opportunity by making sure your website (including the mobile version) is clear, accurate, and easy to use.
Leverage Your Loyalty
This busy weekend officially kicks off holiday shopping for many of your customers. Reward your regular shoppers and entice new ones with solid loyalty programs that bring rewards all season long. If associates can sign customers up for these programs on the spot via a mobile device, even better—you’ve minimized long wait times and provided incentives for more shopping.
Don’t Forget Gift Cards
Gifts aren’t only under the tree. A special gift card for Small Business Saturday helps customers feel special, and is an easy way to drive traffic in-store or online. Customers frequently pass gift cards on to family and friends, another built-in way to expand your reach. Try a simple “buy 2 or more of this product, get a $20 gift card” promotion—and make sure you track your results.
Know What You Have and Where You Have It
Inventory is a key part of a successful small business Saturday. Especially for retailers with more than one location, keeping your hot sellers in stock and knowing the fine art of moving your lagging products (while not sacrificing your margins) is a tricky balancing act. The right retail management system can help you see the big picture of your holiday inventory, smoothly move inventory between locations, and answer customer product questions using real-time data.
The bustling holiday main streets of old movies haven’t gone away—they’ve just evolved to serve more shoppers, in more ways, more conveniently. With the right preparation, and the right technology in place, you’ll be ready to make a big impact on Small Business Saturday.
Learn more about how Epicor can help you streamline operations, drive results, and exceed customer expectations all year long.
Footnotes
[1] “2022 ICSC Small Business Consumer Survey Results.” ICSC, May 2, 2022
[2] “American Express’ 12th Annual Small Business Saturday® Reaches an All-Time High with an Estimated $23.3 Billion in U.S. Consumer Reported Spending.” American Express, November 28, 2021
