Micro, Small and Medium Enterprises (MSMEs) provide growth to economic development in various ways such as creating employment opportunities and providing affordable products and services. However, there are times when business may not be as productive which may be caused by several factors.
Christmas season is a reason to celebrate where people anticipate going to different places to dine, shop and have a vacation. But when you think of Christmas, you would also think about the gifts that you need to buy for your family and loved ones. For businesses, they face a huge challenge during this season -from being understaffed, affected cash flow and insufficient supplies. And also not to forget the long hours that business owners have may take them away from their family to spend their annual merrymakings.
For some companies, the Christmas season may not be the best season for them to earn like they used to. And it could really affect how their business grows. But there are ways on how they can prevent this from happening. Problem arises when there aren’t enough stocks to meet the demands of the customers. And this may let customers seek for other companies that can still provide them with their needs.
Instead of just waiting for the Christmas season to end, there are things that can help them to still sustain their business.
• Make plans and let your customers know that you are coming up something for them to look forward to come Christmas season. Alert your customers through emails or you may also use the different social media sites to inform them.
• Your website may experience a huge traffic that may cause it to have issues connecting to it. But just the same, update all information related to the upcoming season. If you sell online, it is a great way for them to purchase them earlier. But if not, still, providing them the information about your plans will make them want to come to you and purchase whatever they need.
• It is expected that the demand increases during this season and there is a possibility of not being able to have enough to sell. Before the peak season, refer to your last year’s figures and distinguish which among the products were in demand and which among your suppliers too longer than usual to deliver. You may want to stock products which you think would absolutely be your bestseller for the season.
• For those who offer online shopping, make sure that you are able to deliver the goods promptly. Provide options on how the goods will be delivered. Inform how many days it will take before the goods arrive to the customer.
• Get into the Christmas spirit by letting people know about your products/services. The virtual world has a wider audience for the business where it can let people know about the latest happenings of their business. For offline advertising, you may want to cheer people up by wearing Santa and elves outfit to attract people to come to your store. It is effective to have a corner where Santa sits and let children sit on his lap and have a photo op together.
• Expect the influx of customers to your store most especially on the last few weeks before Christmas. Ensure that you have enough people to man the store so that every customer can be well attended to. Sometimes, even though how much a customer would want to purchase from a store, but if there is no one to attend to their needs, customers just tend to step out of the store. By word of mouth, it can spread like virus saying that the store does not have good customer service. You should also understand that your workers need time off too, but making them a schedule on how many hours each day they will have to work on will make it possible for you to have enough people the whole time that your store in open.
• Taking advantage of the season, you may want to consider extending your store hours. Expect how most people would be flocking in after office hours and they may not have enough time to shop around in just two to three hours. So if you also have an online store that would mean extending the people that receives order online as well.
• Ensure that you have paid every supplier that needs to be paid prior to your own Christmas break and check on others whom you are expecting payments from. Issue invoices ahead of time to reduce the stress on worrying about the debtors.
• Let your customers know until what day you will be open for business for the year and on which date will you be opening for the following year.
One necessary precaution though is to ensure that the security alarm is working when you close up for the Holidays. Thieves will take advantage of these times.
It is always great having the time to foresee the events most especially during the Christmas season. Make the season work for you by ensuring that you are well-stocked and you can be able to deliver good customer service despite the hustle and bustle.
Micro, Small and Medium Enterprises (MSMEs) provide growth to economic development in various ways such as creating employment opportunities and providing affordable products and services.