Here is a timely article by Zach
Hanlon discussing the best practices of successful retailers during the holiday
season, with an eye on next year.
can account for as much as 30% of retailers’ total sales. To say this is an
important time of year would be an understatement. In 2016 the National Retail
Federation predicted US holiday sales (that is, in November and December) would
be up 3.6% to $655.8 billion. Bain & Company largely agreed with this
number, placing its own prediction between
3.5% and 3.9%. These numbers were somewhat encouraging. Selling in an “up
economy” is certainly easier, but 2016 wasn’t in a post-recession boom like
2014. Success still depended on brands being able to execute
Did Your Brand Do?
retailers know a good holiday season isn’t enough to hit revenue targets—it
takes a well-executed brand strategy and efficient operations to reach your
goals. Now that the holidays are over, how did your company fare? Which parts of
your strategy worked? Which parts of your holiday strategy did you execute
well? Where did your brand fall down?
of your performance the most important question you need to ask is, “How could
we have done better?” Whether or not you hit your holiday targets, most brands
have room to grow in three main areas: operations,
customer obsession, and financials.