Fall 2007

Industry News & Trends Canadian Consumers are eCommerce Ready Being Prepared for Peak Sales Periods Fraud Prevention Ten Tips on How to Reduce Chargebacks Reducing your risk exposure should be your main concern Merchant Spotlight Merchant Success Story: Optical Showcase

Is Your Business Prepared for Peak Sales Periods?

Planning your success is important for all seasons, but sometimes overlooked during the busy holiday season. Identifying a few key areas before the holiday season approaches will help you prepare for peak sales periods, and ensure your customers are content. Here are some ways to get prepared for the holiday season:

• Look at your previous years' sales to evaluate missed opportunities and to capture new sales. Try bundling related goods into a package, keep stocking stuffers adequately stocked, offer 2 for 1 combos, introduce special pricing, and provide specials during off peak hours.
• Is your payment processing solution flexible enough to handle all types of transactions? During the holiday season, many customers like to purchase gift cards. Consider adding a Gift Card program for your business so that you won't have to turn any customers away.
• Consider creating other value added services for customers that might make their shopping experience more convenient – delivery and drop off service, extended hours, special orders, pre–wrapped gifts, etc.
• Get your staff involved in brainstorming ways to increase sales. Harnessing the power and creativity of your entire group might generate ideas you had never previously considered.
• Encourage your customers to subscribe to your mailing list. Whether you engage with them by email, on your website, or face to face, always offer them the opportunity to signup for specials and other important information.
• Outside of setting your sales target, you should consider setting a stretch goal that goes beyond your wildest expectations. Rallying your team behind this goal and offering a great incentive if you achieve it could actually make it come true.

Being prepared for peak sales periods requires intensive planning and preparation. Be sure to start the planning process early in order to avoid missed opportunities and possible blunders.