This post was originally published on On Deck
The holiday season can bring a big surge in retail sales. But this revenue boost can come with challenges as well. Small business owners have to manage increased sales volume, deal with more customers, and handle increased work hours and labor expenses. With more sales comes more customers needing assistance, more support tickets, more shipping orders, and more exchanges and returns.
This can leave small businesses short on staff, low on inventory and feeling like they’re missing out on a big opportunity. Let’s explore some ways you can prepare to take full advantage of the holiday shopping season.
1. Predict your sales activity.
Having an idea of how holiday sales will impact your business is a good first step. You can use data from past years to make an informed estimate and project what your sales will look like (rather than just guessing).
You’ll need a system to record your sales data. This can be done manually in a spreadsheet or with apps designed for business intelligence analytics. Some of these apps even integrate with your point-of-sale and accounting software so sales and inventory get automatically updated when you make a sale.
This data can help you make informed decisions
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