The c-store retail environment has been seemingly ever-changing over the past few years. A big question many convenience store owners may have is, what does the future of c-store retail really look like?
3 Ways Retailers Can Prepare for the Holiday Rush
Retailers, it’s already that time of year again! Time to start preparing your retail space and inventory for the upcoming holidays. With Christmas and Thanksgiving being the top 2 most celebrated holidays in the United States, there is no doubt that this time of year makes retailers a lot busier. Along with the joyful holiday spirit, this time of year brings on increased customer traffic and a boost in sales for grocers, c-stores, quick-service restaurants, bodegas, and other specialty retailers.
Retail sales during the 2021 holiday season reached a record high of $889.3 billion which was a 13.5% increase from 2020. This number is expected to increase between 6% and 8% this year to between $942.6 billion and $960.4 billion, according to the National Retail Federation (NRF).
Here are 3 ways to prepare your store for the busyness brought on by this time of year…
1. Order enough inventory
Check your sales and inventory reports from last year so that you can get a good idea of what you should order. Note that sales are expected to increase even more this year, so be sure to order your inventory accordingly. Grocers should prepare stock of turkey, ham, stuffing, cranberry sauce, mashed potatoes, and more typical holiday foods. C-stores should make sure their gas pumps are filled up and they have a plentiful supply of road trip snacks, as 47% of Americans are expected to travel during the holidays.
2. Be sure you have enough staff
As you would expect, increased foot traffic and sales makes your store a lot busier, which could mean longer check-out lines and more time spent waiting for your customers if you find your store short staffed. If you don’t have a large enough staff for this season, you may want to consider hiring seasonal employees to work November-January. Otherwise, check out these 5 tips for combating labor shortages.
3. Create festive displays at the front of your store
Displays are great attention grabbers that encourage consumers to buy holiday themed goods while in your store which could contribute to boosted sales. You should put these up towards the front of your store and consider displaying things like common Thanksgiving foods, fall themed baked goods, and other seasonal items this November. Swap that out for a few popular Christmas toys, Christmas themed goods from the bakery, and other seasonal goods this December. Be sure to make these displays fun and festive to really pique the interest of your customers!
Concerned about inventory shortages? Learn 5 ways to avoid inventory shortages in your store.