It’s that time of the year again when people start preparing for the holiday season. Everyone is excited to plan for their Christmas and New Year’s gifts and this would mean a lucrative opportunity for most businesses.
This festive season might be different due to the unprecedented challenges caused by the COVID-19 pandemic. However, this won’t stop consumers from spending and doing online and in-store shopping for the upcoming festive celebrations. To make the most of this opportunity, focus on what your business can do to increase sales through this critical peak season and how you can overcome some of the challenges in your business operations.
Here are some tips on how you can drive revenue through the holidays and avoid operation difficulties.
Having the flexibility to adapt to emerging consumer trends can give an advantage to businesses during this year’s holiday season. Find time to research what are the in-demand or most preferred products online buyers are searching for and how will you be able to adapt it to your business models and operations. You might need to secure new suppliers, track your inventory assets, and manage your logistics to ensure product and service availability. The products and services you offer should reflect the changing needs and preferences of your customers.
Due to the various social distancing measures in Singapore, store foot traffic has decreased significantly. If it’s difficult to drive customers to your stores then take the digital route to reach new customers.
Identify different online marketing channels that can give you a good return on your investment. Aside from stocking up your inventory, you should also get your website holiday-ready and ensure that it can handle traffic spikes once you launch your new deals and discounts. Social media like Facebook and Instagram are also effective marketing channels where you can engage with your customers.
Prior planning and forecasts should give you a good indication of the kinds of demand to expect, either locally or internationally. Ramping up on the more popular items in your inventory will allow you to avoid unwanted ‘Out of Stock’ scenarios. Whether you import finished goods or parts to assemble or manufacture in Singapore, you will need a devisable inbound logistics strategy to manage your stock levels.
Similarly, if you sell through e-commerce channels, chances are you also have international customers that might be scrambling for last-minute Christmas gifts. Having a reliable and speedy last-mile delivery service could greatly improve your customers’ satisfaction.
Having transparent visibility of your shipment's whereabouts is also a vital factor for both inbound and outbound logistics. With DHL Express’s real-time track and trace features, you’ll be able to have more accurate predictions of how your inventory levels might look. Tracking visibility can also be cascaded to your end-customers, offering peace of mind when they purchase from you.
More often than not, consumers during the peak season adopt a “buy now, think later!” mentality, especially when they do not want to miss out on limited promotions. While this may be good for sales, it creates an opportunity for mistakes. Paired together with a spike in volume, these mistakes could either come from a customer ordering the wrong size or from your warehouse – dispatching the wrong order.
In any case, reverse logistics contributes significantly to the overall customer journey. When customers understand that they have an avenue to efficiently return or exchange their shipments without hassle, it boosts their confidence to purchase from you. DHL Express has a return logistics programme that allows you to conveniently create a return shipping label when you send out your parcels for delivery. This return label allows for a fast turn-around between the customer and your business.
When you partner with DHL Express, you are entrusting your shipments with international shipping specialists that are dedicated to ensuring all your business requirements are met. The induction of 14 new freighter aircraft into the DHL Express network means more capable regional connections and a more reliable door-to-door service.
DHL Express has stepped up its game plan to take on the holiday season rush by handling all your deliveries with care and assure you of a smooth and stress-free shipping journey with us.