BY APPLE G. PAROJINOG
MANY businesses savored the surge in sales and services during the holidays, with the increase in foot traffic and consumer high spending last season having surely boosted every business’ normal earnings. However, now that the holidays are over, the challenge that local and small businesses face is the post-holiday sales slump.
Post-holiday sales momentum may inevitably halt, but with the right business strategy and the proper capitalization on opportunities, this unfortunate situation may be turned into greater success. Here are some tips for local and small businesses to thrive this post-holiday season:
- Create a plan for the new year
Proper preparation is essential to reap a successful year. Rather than planning your business strategy in the short run, map out a year-long plan to properly allocate your resources all throughout the year. This will help you identify the expected celebrations in the next months, innovate your products or services aligned to them, and optimize your stocks in time for the anticipated demand. A long-term sales plan will also help you realign your goals, achieve new objectives, and analyze the needed funding at the same time.
- Launch a new product or service
Grab the consumers’ attention by offering a new product or service. Consider leveraging common New Year resolutions by innovating something that aligns with their interests. These new offers will provide customers with something to look forward to and encourage them to try something new. With the right marketing, excellent quality, and proper timing of the launch, customers will get excited about trying out these products. Who knows: they may turn into your free advertisers when they share their good experiences with their personal circles.
- Adapt to various e-commerce tools
It’s 2025! Your business’s digital presence is now essential for it to be known. Adapt to these new marketing methods at your disposal to stay competitive. As consumers are now hooked on their mobile phones and social media, showcase your business through creative and visually appealing posts on various social media platforms, and translate these to good experiences when customers try your products or services. Maintain the same vibe or brand image in your business’s digital and physical presence. Explore using AI-powered tools and make customer experiences simple and convenient. Offer easier ways to pay, such as digital wallets, QR codes, and online banking. But always stay vigilant for online scammers!
- Take advantage of post-holiday sale
Consumers are drawn to saving up and minimizing their purchases post-holiday spending spree. To get them to spend and to your own advantage, you can clear out your excess stocks and unsold items through clearance sales, promos, discounts, and freebies. It is a usual guilty pleasure for consumers to go for these exclusive, limited deals. With these offers, you can persuade them to patronize your products or services. However, it’s crucial to maintain the same quality and customer experience during and post holidays.
- Constantly engage with your customers
Your business has thrived through your repeat and loyal customers. Don’t miss the chance to send them personalized e-thank you cards and exclusive deals, such as special promos and discounts they can use on their next purchase. Customer loyalty perks and a consistently good experience will entice them to continually patronize your business. Continuously adapt to changing trends and preferences through feedback and surveys and benchmark these responses to improve your business goals. Presence is also essential, so keep your customers posted with your fun and compelling posts on social media.
The post-holiday sales slump may be a challenge to local and small businesses, but with these tips implemented effectively, your business will be stronger and more competitive in the new year.
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Apple Parojinog is a Manager of the Audit & Assurance Practice Area at P&A Grant Thornton. One of the leading audit, tax, advisory, and outsourcing firms in the Philippines, P&A Grant Thornton is composed of 29 Partners and 1,500 staff members. We’d like to hear from you! Connect with us on LinkedIn and like us on Facebook: P&A Grant Thornton and email your comments to business.development@ph.gt.com. For more information, visit our website: www.grantthornton.com.ph.
