According to PricewaterhouseCoopers, 35% of shoppers are planning to spend more this holiday season than last year. They project Millennials to spend the most overall, with Gen X spending the most on their families.
Higher wages are driving this increase in holiday spending, but increased prices due to inflation are driving shoppers to seek the best deals. This could be bad news for small businesses, as big-box stores are able to offer the lowest prices to holiday shoppers. So what can an independent garden center do to win some of these price-conscious shoppers this holiday season?
Though many consumers will be looking to save money this year, the majority still believe in supporting local businesses. This is where collaboration with other local businesses will help you find success. Band together to run ads and social media campaigns designed to keep money in the local economy this year.
While you can’t compete with big business on price, you can compete on service. Let shoppers know that your friendly and knowledgeable staff is on hand to make a typically stressful experience as pleasurable as possible.
By the same token, competing on something other than price means establishing a niche. What are you best at? What products do you offer that shoppers won’t find anywhere else?
PricewaterhouseCoopers found that in 2015, 60% of consumers said they would shop on Black Friday. This year, that number has dropped to 20%. Prepare for sales to be more spread out over the end of November.
Social proof is more important than ever. Millennial and Gen Z consumers in particular are more likely to listen to their peers than to advertising, so make sure that you are asking both in-store and online customers to leave a review.
You may already be doing some of the things listed here. What did we miss? Let us know what has worked for you during past holiday seasons
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