4 Festive Season Strategies To Help You Close The Year On A High
2017 has proven testing for many entrepreneurs.
Factors such as low growth, rising petrol prices, a drought in parts of the country and a negatively adjusted rating in investment grades have all contributed to a more strained consumer, a tough business climate and minimal economic growth.
As the year comes to a close, SMEs will have to make the most of the festive season to build cash reserves for the year ahead.
Mags Ponnan, head of customer value propositions at FNB Business, reckons that SMEs have to “box smart” to stay ahead this festive.
“Consumer spending will not go away, however people may simply spend more consciously than in previous years. To stay ahead, entrepreneurs must go into the festive with a clear plan.”
Ponnan, shares tips on how SMEs can be best positioned for a profitable festive:
1. Have a clear strategy ahead of the festive season
2. Make use of communications platforms to let consumers know your season specials
3. Keep your outlet open longer
4. You must have an online presence
“SMEs must remember that the competition for a share of consumers’ spending power intensifies in tough times. Businesses that have prepared long in advance are bound to win in the festive season,” concludes Ponnan.