Shopfloor FOCUS: BLACK FRIDAY & CHRISTMAS


Reachingchin the peak


54


the peak The Golden Quarter


The Golden Quarter for is upon us, and


for is upon us, and hopefully by the end


hopefully by the end of the year the figures


of the year the figures will be reporting a


will be reporting a successful Christmas


successful Christmas period for retailers –


period for retailers – and pointing towards


and pointing towards an even rosier outlook


an even rosier outlook for 2025, writes


for 2025, writes Gekko’s Daniel Todaro.


Gekko’s Daniel Todaro.


Since the last retail peak season we have had a change in government and there is noise about the introduction of economic policies designed to boost disposable income. The potential increase in spending power for some is offset by the worry for many that increased taxation will mean the cost of living crisis will continue to leave its unwelcome mark. Alongside this, Labour has also pledged to reform the business rates system; the proposed new system of business property taxation aims to reduce costs for high street shops, levelling the playing field between bricks-and-mortar stores and online retailers. Focus on revitalising high streets will be very much welcomed, whether through the aforementioned reduced taxation or measures like introducing banking hubs and cracking down on shoplifting. These efforts are designed to create safer, more vibrant shopping environments which could attract more footfall and increase sales in the area. The reality is, however, that regardless of all this, retailers need to focus on maximising the opportunities that the peak season presents, seeking wherever possible to boost sales and leave a positive lasting impression with their customers. The challenge is tough. To ensure a successful Golden Quarter,


retailers must take a strategic approach. By prioritising adaptability, customer engagement and operational efficiency, retailers can stand out and remain competitive, even as consumers potentially cut back on spending.


Success during this time also demands careful early planning, strategic insight, and perfect execution. This involves setting pricing strategies, organising promotions, staffing, launching marketing campaigns, and making any necessary operational adjustments, such as embracing digital transformations or strengthening supply chain resilience.


An omni-channel approach First and foremost, adopting an omni-channel approach is essential. Offering customers the flexibility to research, purchase and receive products across multiple channels ensures a smooth and convenient shopping experience. This should be viewed as a long-term strategy, not a short-term solution, as it creates a strong foundation for attracting, converting, and retaining customers. Another overlooked strategy – which often causes customer irritation during peak sales events – is website load capacity. Slow or crashing websites can cause a spiral of negative experiences for the retailer, ranging from loss of sales, loss of customers and negative reviews. It’s 2024 – so there shouldn’t be a situation where the website is overloaded and slow to work; this is a recurring theme for many businesses and sites and needs to be taken seriously in the planning stage.


Investing in technology is key to enhancing the online shopping experience for your customers and it can also provide a significant advantage for retailers. Improved website functionality and optimised mobile responsiveness can help create the seamless omni-channel experience retailers aim for. This, combined with the website reliability/stability that comes from investment, will set your website apart from the crowd. Additionally, emerging technologies like AI-powered assistance, virtual try-ons, and AR options can further elevate the experience by allowing consumers to visualise products in their own homes.


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