As a retailer, you know how important holiday preparation is. Most retail stores begin financially and inventory holiday prepping as early as August! In part 1 of Orlando Retail Business Insurance: Holiday Prepping- Part 1, we covered some tips on hiring seasonal employees. Once you have the right employees in place, it’s time to focus on other logistics.
Here are some suggestions were given by members of the LinkedIn Retail Industry Professionals Group on how to prepare your store for the holiday season:
Set Priorities Ahead of Time. Have your pre-holiday checklist updated and in order a few months in advance. This allows your team to be prepared for the “task” items such as replenishing the sales floor or setting up for a sale. Also, utilize social media and radio promotions to give your customers a direction of where they should shop, rather than wasting valuable time later setting up in-store signage.
Expect Late Announcements. This suggestion was directed at consumer electronics retailers; however, it can apply to other forms of retail too. It’s a good idea to reserve time in your allotted hours if you need to make a sudden announcement about a new product or sale.
Maintain Inventory Control. Make sure you have the right inventory available, ensure your associates are knowledgeable about your inventory and deliver an excellent customer experience by offering suggestions based on the products or services you offer.
Train Employees in Loss Prevention. The peak time for shoplifting in retail stores is when you are busy and your entire staff is with customers or otherwise engaged in a task. Training your staff on how to stay aware and what to do if they suspect a shoplifter is imperative, and this training should start a couple months before your first-holiday rush.
These are just a few great ideas on how you can prepare your store for a great holiday season. Be sure also that your company is protected against any liability or losses with Orlando Retail Business Insurance. At Newman Crane, our specialists will create a Business Insurance package tailored to the specific needs of your company. Contact us today for more information at 877.874.4673.