PCA Magazine Summer 2022

PREMIUMCIGARS.ORG VOLUME 3 2022 | PCA The Magazine 43 H O L I D A Y R E A D I N E S S G U I D E When it comes to ordering, make sure you maintain constant communication with your suppliers to ensure you have enough inventory on hand throughout the season. Clearly communicate your needs, well in advance, so suppliers can ensure they are able to deliver upon them. Consider bulk orders and long-term deals with your most popular items to secure better pricing. Also keep in mind lead-time variability and supply-chain delays, which will likely increase in the weeks and months ahead. Additional tips for getting inventory-ready include: • Invest in good inventory management software. With so much unpredictability leading into the biggest shopping season of the year, make sure you have a solid system in place to do all the heavy lifting for you. • Have a stock replenishment plan. To ensure you always have what you need, when you need it, you’ll want a good process in place for keeping inventory stocked and meeting customer demand. • Give yourself extra time. Always factor in extra time for unexpected delays in shipping and receiving, especially this time of year. MAKE IT SPARKLE The holidays will look a little different this year. Of course, this has been the theme for the past two years, hasn’t it? Recent economic fluctuations have impacted consumer confidence and discretionary spending and have ultimately led to an earlier start to the holiday shopping season. At the same time, retailers have been rolling out the holiday décor and loading up shelves with holiday buys for the past several weeks. What does this mean for you? To put it simply, the holidays are here. And thus, it’s time to start sprucing things up and, like it or not, get into the spirit of the season! Schedule extra time to clean, decorate, and set up key merchandising areas at the entrance and check-out for impulse buys. • “Display accessories and bundles near the register to add on to sales” —Warren Brooks, Crown City Cigars, California • “Put up an impulse buy table with accessories and new products” —Cortney Waddell, Manager, The Cigar Room, Alabama • “Step up your game (cleanliness, dress code, etc)” —Brian Ceres, General Manager, Old Virginia Tobacco Co, Virginia The way you present your products can be just as important to shoppers as the products themselves. Customers are looking for unique experiences, and eye-catching displays are a great way to get them in the door and keep them there longer once inside. When it comes to decorating, remember—there are several holidays in Q4. Don’t just decorate for one. Think of the holidays your customers celebrate and decorate throughout the fall and winter months! MAKE IT IRRESISTIBLE With savings top of mind for shoppers this season, coupled with the fact that nearly every other retailer is offering holiday specials, you’ll want to plan your sales strategy well in advance. Experts recommend implementing a variety of tactics, such as impulse buys, upselling, suggestive selling and special deals. Not into discounts? Consider freebies or games with prizes. Hold a drawing in person or online—daily, weekly or monthly— to give away small freebies that will excite customers. Or perhaps offer a gift with every purchase. These alternative strategies allow you to promote and compete while still retaining your margins. Additional ideas for holiday promotions include: • “Hold back something limited that moves well to bundle with something that isn’t moving well and offer it at a 10 percent discount.” —Charlie Davis, B&B Tobacconists, North Carolina • “Offer Black Friday sales and 12 days of Christmas discounts” —Brandi Wheat, Partner, English Bulldog Cigar Lounge • “Run a gift card promo. Spend $100 on gift cards to get a $10 gift card that can be used in January.” —Cassie Rogers, The Cigar Room, Missouri • “Give holiday discounts when someone makes multiple purchases.” —Keisha Miller, Slow Burn Mobile Cigar Lounge, Texas SHOUT IT FROM THE ROOFTOPS Your staff is in place, inventory is stocked, store is decked out, promotions are planned—now it’s time to spread the message! To execute a successful promotion, it’s important to plan early so you have time to create all the assets and schedule your marketing before the rush. Historically, retailers began pushing holiday deals in October to build anticipation and get customers thinking about a business in advance of the season. But this year, retail marketing campaigns have already begun. So, if you haven’t already, now is the time to finalize plans and start telling the world! Tips for optimizing your holiday marketing strategy include: • “Use an email service like Constant Contact to reach more customers. Highlight products you carry that are unique.” —John Ost, Ft. Worth Lone Star Cigars, Texas • “Advertise BIG for the Holidays! This doesn’t just mean traditional advertising. Newsletters, social media, etc, are good,