While a robust holiday shopping season is certainly great news for businesses, it also requires preparation for the extra customers, orders, credit card processing, and demands on your inventory that come with the season. We’ve prepared a holiday prep checklist to get your business ready for “the most wonderful time of the year.”
First, did you know?
- Black Friday & Cyber Monday: In 2022, a record $9.12 billion was spent online in the US on Black Friday, and there was a 12% increase in consumer spending in-store for Black Friday compared to the previous year (source: https://www.pymnts.com/news/retail/2022/mastercard-black-friday-spending-up-12-despite-inflation/).
- Cyber Monday: Cyber Monday remains the biggest shopping day for ecommerce, with $11.3 billion spent in the US in 2022, compared to $10.7 billion in 2021 (source: https://www.digitalcommerce360.com/article/black-friday-ecommerce-sales/).
- Normal Online Sales: On a regular day in the US, online sales range from $2 to $3 billion (source: https://www.cnbc.com/2022/11/25/black-friday-2022-online-shoppers-spent-record-amount-on-thanksgiving.html).
Holiday Prep Checklist
- Make sure your inventory is up to date to meet the increased demand.
- If you’ve hired extra help for the holidays, ensure they’re properly trained to use your POS terminal and systems.
- Update your online and/or physical store with seasonal products and information to attract customers.
- Clearly communicate your holiday return policy to customers.
- Test your technology, including payment processing, to ensure everything is working correctly before the rush. Also, check for security updates and ensure PCI compliance to protect customer card data.
- Consider creating gift cards for your business, both physical and digital. They are popular gifts and can also serve as a marketing tool to attract new customers.
- Test your point-of-sale systems, including any pending software updates and additional features or equipment you may need. Develop a backup plan in case the terminal goes down.
BC Solutions is here to support your business growth and profitability. We understand the challenges you may be facing when it comes to accepting, paying, and managing your money. That’s why we’re here to help you thrive instead of just survive during the holidays. We are committed to delivering a 5-star client experience, and we go the extra mile to ensure your satisfaction.