The Good end It starts in less than a month and buyers are already starting to prepare. But, how can businesses be prepared so as not to lose out on the season?
Verónica Ávila, a professor at the Universidad Panamericana, shared that, first of all, merchants must think about how to take advantage of the Good end to capture the customer’s attention and their spending.
He highlighted that the three main angles are: planning offers, having the product available and knowing how to make the offer financially.
To take advantage of Good endHere are other tips from the specialist:
Review inventory: Put on offer what, due to the characteristics of the products, times of use and others, remained and that represents more of a financial cost than a utility. This is a good time to be able to mobilize it and be able to turn it into cash.
Do not remove useful inventory: Do not remove inventory that you know will be sold even without an auction or offer.
Negotiate with suppliers: Negotiate special offers and conditions that help both to give the customer a good offer, that has financial characteristics and a good product.
Strategic alliances: Make alliances with complementary brands and products to absorb a package and mobilize products while taking care of costs.
Use of credit with banks: Many wait for offers to have access to goods and services that they cannot pay in cash. Banks and credit cards offer direct spending and it is more attractive than direct to business. It is recommended to analyze the credits and invite them to pay with bank offers so that the credit is not transferred directly to the business.
Do not inflate prices: Do not fall into practices that when customers realize they may not return, such as inflating prices before and returning them to normal Good end.
Offer intelligent options: It must be taken into account that many Mexicans will arrive at the end of the year without money because a good part of them compromise it in the Good end. You have to make smart decisions for the business and offer smart decisions for the customer.
Use electronic commerce: Use electronic commerce platforms so as not to limit what can happen in the business. There are more channels that can represent you.
“With an analysis of their costs is how they can know if it is convenient for them to be in the campaign and that, at the moment of taking out the volume of purchase, they will be able to replenish the work inventory”, highlighted the specialist.
In addition, he added that one must be alert when the financial cost exceeds the utility, such as using months without interest without being guaranteed by the banks. You also have to get concrete numbers of what it means to enter the “cheapest end of the year”.
“It’s not just ‘I get in’, you have to read the page of the Good End to know what has to be fulfilled and be a registered business in the campaign. You have to take advantage of it or let it go but with conscience, as a business, because it is where there is many end-of-year expenses that will find their closure in the client’s case,” he concluded.
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