October: The holiday-heavy month! How do we choose which to prioritize?
October means the exit of “Back to School” and the transition to Fall, Thanksgiving, Halloween, and early sightings of the Holiday season! But with so many themes in one month, does it make sense for retailers to represent every holiday in their stories?
How can we decide what to focus our visual merchandising on, while being mindful of the investment to do so?
Here are 12 ways to find out which holidays you should prioritize in your business:
#1: Understand Your Audience
Start by understanding your target audience and highest-paying customers. Who are they? What are their interests, values, and preferences? Which holidays do they tend to shop for? If a holiday, such as Christmas, aligns with your customer base's demographic and interests, it's more likely to be relevant and one you should focus on in your retail visual merchandising strategy.
#2: Keep your products off the floor.
Consider whether the holiday is relevant to the products or services you offer. For example, if you run a fashion boutique, Halloween might be relevant for costume sales, while Valentine's Day merchandise and decor may be relevant for gift and floral shops.
#3: Cultural Context
It’s important to take into account the cultural context of your business location. Some holidays might be more significant in certain regions or communities, so research whether the holiday you’re prioritizing holds importance in your city or neighbourhood.
#4: Sales Potential
Analyze the sales potential associated with the holiday. Will celebrating this holiday lead to increased foot traffic and sales in your business? Now’s the time to analyze sales data from prior years to assess how showcasing holiday merchandise could impact your business.
#5: Competition
Use informative graphics and visuals to communicate the unique features of your products. Model shots and feature highlights will also enable your customers to understand the value and usage of each item.
#6: Customer Feedback
Engage with your customers through surveys, social media, or in-store conversations. Ask about their own holiday celebrations and whether they would find its themes appealing in your business.
#7: Creativity and Brand Alignment
Consider how you can incorporate the holiday into your creative visual merchandising strategy. Make sure the themes and displays align with your brand's identity and values, and ensure the messaging is authentic! This is the key to resonating with recurring customers.
#8: Social Media Trends
Scroll through Pinterest, Instagram and TikTok to monitor social media trends and conversations related to the holiday. If there's a buzz around it, it might be a good opportunity to tap into that excitement.
#9: Return on Investment (ROI)
Evaluate the potential return on investment. This includes calculating the costs associated with creating themed displays, promotions, and marketing campaigns against the expected increase in sales.
While there are many methods for calculating ROI, the most common is net income divided by the total cost of the investment (ROI = Net income / Cost of investment x 100).
#10: Long-Term Strategy
Consider your long-term business strategy. Are you looking for short-term boosts in sales, or are you trying to build lasting customer relationships? Some holidays might align better with one approach over the other.
#11: Experimentation
If you're unsure about a holiday's relevance, you can start small by experimenting with a themed display or limited-time promotion. This could be a small table display with holiday merchandise, or decor on a shelf display. After a few days or so, evaluate the response from customers and adjust your strategy accordingly.
#12: Local Events
Take note of any local events or festivals related to the holiday. Participating in these events or even becoming a sponsor of them can increase your visibility and connect your business with the community.
It’s important to note here that not all holidays need to be celebrated or integrated into your window or shop displays! The key to success lies in selecting the holidays that align with your brand and resonate with your customers, which will then enrich the overall shopping experience. That being said, it's crucial that you and your business can genuinely connect with these holidays, embracing their history, traditions, and messages. This authentic approach allows you to connect with your customers and their values and lifestyles in a more meaningful way.
If you’re ready to create a unique holiday marketing strategy for your business, we can collaborate to ensure your store maintains its creative identity while incorporating effective visual merchandising and display services.
Aside from of our marketplace and retailer services, we also have a variety of services that can be added on or requested on their own. Learn more about our Al-La-Carte options here.!