We’re seeing two conflicting stories on the news. “We’re going into a recession” and “This is going to be the biggest holiday season yet,” in terms of sales. How in the world do you plan for a holiday season like this one? It will take some strategic planning!
Here are our top 7 tips for successful holiday shopping this year!
1. Make a budget.
Start with a budget. We know it’s fun to go big and get lavish gifts. But if that’s not in your budget, you might find yourself with a holiday shopping hangover. Creating a budget will make sure you keep your long-term financial goals on track. Interestingly, it also allows you to spend your budgeted money without feeling guilty! We suggest creating one budget for personal holiday gifts and a separate budget for branded business gifts (if applicable).
2. Shop early.
Businesses, specifically small businesses, do not want to have excess inventory. It uses up cash they could be using for payroll, marketing, etc. So, businesses do their best to forecast demand and order accordingly. So, most will plan their inventory levels on the lower side of their sales estimates. If sales outpace what a retailer plans for, they will run out of stock on their more popular items. The higher the demand, the earlier the sell-out date. With a little planning, this is an easy problem to avoid. Try to complete your holiday shopping early – before Thanksgiving if you can.
3. Support small businesses.
It’s probably no surprise that we feel strongly about supporting small businesses. As a small business ourselves, we try our best to support small businesses through our supply chains and our personal purchases. We believe shopping small is not only great for your community, but it also gives you a much wider selection than big box retailers. Isn’t it fun to give thoughtful, unique gifts?
4. Make a list.
Take your time in this part of the process. Think about your family, friends, colleagues, clients, etc. Will there be people at your family holidays who weren’t there last year? Would you like to include them on your gift list? Take the budget you created and then break it down by person. That way you make sure you have a gift for everyone without blowing your budget! You can go old school and track this on paper or use one of the many apps available.
5. When in doubt, gift.
Sometimes you’re not sure if you should give your neighbor, crossfit buddy, or colleague a gift. When in doubt, give a gift, but keep it small. This avoids that awkward situation of them gifting you something and you not reciprocating. And by keeping the gift small, you make it less awkward if you have a gift and they don’t.
6. Account for shipping.
If you’re going to be mailing gifts, be sure to account for the shipping time needed to arrive to their home or office. If you’re shipping corporate gifts to an office, you will want them to arrive before your recipient leaves for the holiday, usually a week or so before Christmas. You will also need to account for shipping in your budget.
7. Add a personal card.
Personal cards make the gift much more meaningful without much extra cost. We suggest including a card for everyone on your holiday list. Yes, even your Great Aunt Mildred. It’s such a wonderful opportunity to express what makes them so special to you.
There’s no doubt the world is crazy right now, but with a little planning, your holiday gifting doesn’t have to be.
Do you have any other tips to share? Leave them in the comments below!
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