Top 5 Ways to Boost Holiday Retail Sales on a Budget

It is a different kind of holiday shopping season, as many consumers are scaling back on holiday purchases due to the increasing cost of living. As we head into the holiday shopping season, the big question for brands and retailers is: how can you increase sales in retail? 

Today, it is especially important to drive brand knowledge to ultimately help salespersons sell better and sell more. It isn’t necessary to invest a lot of time and money to completely overhaul your store operations - there are ways to boost holiday retail sales even when operating on a tight budget. Here we explore several innovative strategies, plus some tech-driven enhancements to upgrade your operations in 2024. 

Make Enhancements to the In-Store Experience 

‍Budget-conscious approach

 In addition to putting some effort into holiday decorations to create a festive ambiance, prioritize training staff to provide exceptional customer service. This can be as simple as scheduling several thorough training sessions to ensure all sellers are kept aware and in-the-loop, and keeping a flow of communication so they can ask any questions they may have. 

‍Tech-savvy approach

The next step would be to implement platform-based mobile apps for workforce engagement management. Such apps can be very meaningful - providing sellers with smart to do’s - tasks that are personalized, targeted, and aligned with the seller’s goals. Delivering accurate information to sellers is key - so they can share the right brand story with confidence and ease. 

Boost your Operational Efficiency

‍Budget-conscious approach

As overstock is one of retail’s major woes, make sure you have a system for streamlining inventory management to prevent this from happening. In 2023, 53% of surveyed stores predicted “dangerous ramifications” if they could not clear up their excess stock! This all comes down to some planning and organization - for instance, maintain an organized list of inventory that neatly tracks and displays all new and old inventory. Conduct regular inventory audits to see what you have in stock. Finally, pay attention to your customer’s desires and preferences - are some trends falling out of fashion? 

Additionally, make sure that you are optimizing staffing for peak holiday periods to ensure a well-staffed sales floor. The last thing you need is to have customers with no one to assist them. Implement staggered shifts and refrain from scheduling employees to restock shelves during operational hours, as this would be disruptive to customers. 

Tech-savvy approach

These strategies, along other learning and development tools that provide just-in-time training, will set you up for success. Measurability and insights are also key - getting feedback directly from frontline sales associates for an inside look at how your products are performing and how your brand is perceived.  

Get Creative with Customer Engagement Initiatives

Budget-conscious approach

Explore ways to create a personalized shopping experience for customers, fostering a sense of connection and loyalty. For instance, consider hosting exclusive events for loyal or VIP customers, and encourage customers to create profiles on your website or in-store. Follow up with personalized post-purchase emails, expressing gratitude and asking for feedback. These small actions can go a long way in making an impact, demonstrating to customers that you care - 71% of consumers feel frustrated when a shopping experience is impersonal! 

Tech-savvy approach

Customer Relationship Management (CRM) tools can assist with more comprehensive customer communications and tracking. Sales associates can be equipped with tools so they access customer profiles and purchase history in real-time. Consider the impact of empowering sales associates with the capability to track and retain customers, communicate with clientele, and more, all within one single and personalized platform! 

Engage in Some Collaborative Efforts

Budget-conscious approach

Are there other businesses within your area that offer products similar to your own and share a similar target audience? If so, consider collaborating on joint promotions, such as bundle deals or exclusive discounts for customers who shop at both stores. Host joint events such as pop-up shops or festive gatherings to attract more foot traffic, or combine resources for decorations and entertainment. 

Tech-savvy approach

Additional tools enable retailers to extend their reach beyond their fellow local businesses. By tapping into their network of brand partners, they can jointly support content creation and distribution, manage incentives, and more. 

Leverage Your Resources to do some Strategic Merchandising

Budget-conscious approach
Explore ideas for eye-catching holiday displays, to effectively utilize in-store resources without breaking the bank. Maximizing your product visibility - do some strategic product placement to encourage impulse buys and increase overall sales. This can also help to tackle the issue of overstock, as discussed above. 

Consider enticing seasonal promotions and bundles to attract both current and new customers. For instance, are there several of your products that go well together? Can they be combined with an additional service? For new runners, a retailer could offer the following promotion: Purchase any pair of running shoes and receive a complimentary thermal running gear kit, including insulated gloves and a headband!

Tech-savvy approach

This is a space where human creativity shines, though it is also essential to ensure sales associates are adequately trained and prepared to present your products at their best. This is where having an all-in-one software to keep all sales associates knowledgeable, engaged and customer ready at all times, is crucial. 

Take a tech-savvy approach to revamp your retail operations - schedule a demo of Rallyware’s Performance Enablement Platform to see how you can increase sales in retail this holiday season, and in the ones to come! 

‍