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3 Oct 2024

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24 Sep 2024

The British Independent Retailers Association (Bira) is set to address critical issues facing the UK's high streets at its upcoming Annual Conference, marking the event's return after a six-year...

23 Sep 2024

Madison is teaming up with Cytech and the Rediscovery Centre in Ireland, to offer a first-class bicycle mechanic training facility by providing a full Park Tool workshop.

23 Sep 2024

A report from active travel charity Sustrans has found that a total of 1.9 million, or 38 per cent of people on a low income or not in employment want to cycle, or cycle more, but are...

23 Sep 2024

Independent shops are not concerned about Halfords' decision to double its offering of premium bikes, according to interviews with Cycling Weekly.

23 Sep 2024

Cycling Electric has published  an investigation into how misinformation on ‘electric bike’ fires imay be increasing the danger to consumers and affecting sales of...

19 Sep 2024

The British Independent Retailers Association (Bira) has said the inflation rate holding steady at 2.2% in August provides some stability for the high street - but stresses the Bank of England...

17 Sep 2024

UK Finance and others who form the Cash Industry Environment Charter have been discussing best practices when it comes to cash deposits, and as a result have produced a short guide on reducing...

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Experts advise indie retailers to "buy stock now" for Christmas

Posted on in Business News , Cycles News

A shelvesrecent article featured in Forbes written by Catherine Erdly, Small business retail expert and founder of The Resilient Retail Club, has advised independent retailers to plan ahead this Christmas, especially with regard to e-commerce, stock quantities and COVID restrictions.

E-commerce continues to dominate

Andrew Goodacre, CEO of the British Independent Retailers Association (BIRA) and member of the Independent Retailers Confederation (IRC) highlights that online shopping has more than doubled its share of retail sales in the last 18 months.

Alex Ryan, Consumer Products Marketing Consultant and owner of Marketing 101 also emphasizes the importance of selling online but stresses the need for small businesses to regularly test their websites.

"Busy websites can break or get overloaded, and there's nothing more frustrating than checking your sales on a Monday morning to discover your payment gateway snapped on Friday night" he says via email.  He also notes that this is not the time to make changes to websites, until "after the January sales".

Disruption in the supply chain ahead

As small businesses plan out their Christmas sales strategies and targets, understanding what customers' spending habits might be this year is key.

Consumers are likely to make Christmas extra special this year after many being away from loved ones during Christmas 2020. Goodacre foresees a "bumper time for retailers with demand being higher".

However, one of the looming issues this year, threatening to "ruin Christmas" will be shipping and supply. In order to meet their customer's needs and therefore boost sales, businesses need to plan ahead, especially with regard to stock quantities. Goodacre clarifies: "The real challenge for the retailer is the supply chain and ensuring that the stock is available at the right time - so look to buy stock now and start the marketing for the festive period now. It is likely that Christmas shopping may start earlier than usual, especially if the difficulties in the supply chains continue".

Safety first

No Christmas outlook advice can be shared without mentioning COVID guidelines. Small businesses involved in any face-to-face experiences with their customers, whether a physical store, Christmas markets or events must be fully compliant with any government advice, particularly around public safety.

The Christmas 2021 outlook is positive for small businesses, with many customers ready to make it a year to remember after the disappointment of 2020. However, for retail businesses to make the most of this opportunity, they need to take into account and plan for the challenges of supply chain disruption, shipping delays and the need to protect themselves, and customers, from the impact of COVID.

 

 

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