How Retailers are Preparing for the 2018 Holiday Season Last Updated on October 15, 2018
Is your retail business prepared for the holiday season? With the 2018 holiday retail season projected to be even more profitable for business owners than 2017, retailers have been preparing for months in advance to handle all the business they’ll be making!
But if you’re just now getting around to gearing up for the holidays, don’t worry. There’s a new tool that retailers are using to fund their holiday preparations in a snap, and ensuring they maximize their profits!
Retail Holiday Season 2018 Projections
According to the National Retail Federation (NRF), retailers are expected to make upwards of 4.8% more in sales this holiday season, compared to 2017.
This is largely due to a reported increase of consumer trust in the economy. With higher wages and lower unemployment, consumers are finally feeling more comfortable spending.
The point is clear – NOW is the time to start ensuring you have the means to reap the benefits this holiday season is sure to bring!
How Retailers are Preparing for the 2018 Holiday Season
Just think about all the things you need to handle the huge influx of customers during the holidays:
- Temporary Hires: You’re going to need as many hands on-deck that you can manage. There’s no way around it – the more workers you hire, the more customers you can handle, and the more sales your business makes.
- Backup Inventory: With retail forecasts promising heavy wallets for customers and retailers alike this season, it’s time to start thinking ambitiously. Don’t purchase only the amount that you know you can sell. Get the amount you want to sell.
- Extend Your Variety: Sell what your customers want – not just the products you already have. Do some research to find the hottest merchandise your customers are looking for, and offer your competitors the brands and products they need – or your competitors will!
- Advertising: And not only flyers posted on telephone polls (although, the more the merrier). This is 2018! The vast percentage of online shopping happens online, nowadays. If you’re looking to maximize profits this year, spend some cash to advertise your store online. Hire a graphic designer. Hire a copywriter. Your return on investment is sure to be astronomical. Speaking of which…
- Set Up Online Shopping for Your Store (If You Haven’t Already): If your business isn’t set up for online shopping already, this is the year to make it happen. You’re missing out on thousands of potential customers too warm and cozy to leave their homes. What’s more, these are customers that you don’t have to spend your own capital to service. What do you have to lose, except a whole channel of revenue by refusing to keep up with the times?
- Holiday Renovations: There’s nothing worse than going holiday shopping in a store that seemingly forgot what season it is. Holiday shoppers that don’t feel the cheer will leave before giving your shop a chance. Put some effort into renovating your store with decorations, and watch the amount of happy customers skyrocket.
If you’re wondering how on earth you’d come up with the capital to fund these preparations, you’re not alone.
Fortunately, there’s a new tool that retailers have been using to finance everything on an as-needed basis, giving them the freedom to draw exactly the amounts of capital they need, exactly when they need it.
Introducing: Revolving Retail Business Lines of Credit
Immediate access to capital on-hand is a must-have for any business during the holidays. But with so many spontaneous expenses needing to be made throughout the holiday season, retail businesses especially need to be prepared with the cash to make any changes or improvements necessary on a dime.
Revolving business lines of credit are giving retail businesses the freedom to draw the funds they need as the season progresses, without using more than they have to. Here’s how it works, in four steps:
- Receive Your Credit Line: Business owners receive access to a credit line with a maximum of anywhere from $10K to $5Mil. You aren’t obligated to use any of these funds, and you don’t have to pay interest on any funds you don’t withdraw!
- Draw Any Amount of Capital You Need: Immediately pay for any expense necessary, exactly when you need it. Need $20K to purchase a new line of products for the holidays? Done. Need $40K to restock on a product that sold out quicker than expected? Easy!
- Replace Funds as Needed: Replace the funds you withdrew back into your credit line, where it becomes available to draw from again!
- Repeat the Process as Much or as Little as You Like: With access to revolving credit, there’s no limit to the amount and frequency of purchases you can make. Use it all, or keep spending and replacing cash as you need it indefinitely – the choice is up to you!
How to Get Your Revolving Line of Credit
Give us a call at (877) 482-3008 to get started, or apply online by filling out our 1-minute application online to get the funds you need in as little as 24 hours!
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