11 Ways Small Businesses Can Compete With Major Retailers For Holiday Sales – Latest News Update

Cyber ​​Monday and Black Friday are great opportunities to attract customers to your small business, but during the holiday season, there is often a lot of competition from large retailers. While your small business may not be able to compete on the same level as a large retailer, there are many strategies you can use to sell more products or services by the end of the year.

To help you plan ahead for the big holiday sales days and beyond, Young Entrepreneur Council (YEC) members answered the following question:

“What’s one tip you have for how small businesses can compete with large retailers in times like Cyber ​​Monday and Black Friday? How can they bring in customers?”

Here’s what they recommend you do to set yourself apart from the competition.

1. Offer products unique to your business

“Large retailers can’t compete with items they don’t have. Offer products unique to your company’s brand and industry with better customer service to build brand loyalty. On Black Friday, customers respond to discounts on products you offer because they trust you. It can’t hurt that they can’t find it anywhere else!” ~ Robert De Los Santos, Sky High Party Rentals

2. Collaborate with Shopping Apps and Plugins

“Engage with cashback and discount apps and plugins that shoppers use to find deals all year round. These solutions are more widely used during the holiday shopping season, and many shoppers rely on their recommendations to make purchasing decisions. Don’t bother creating your own shopping app if you are a small independent retailer; it will get lost in the app store clutter.” ~ Andrew Schrage, Money Crashers Personal Finance

3. Find new customers through old customers

“Use your current customer base to attract new customers. Encourage them to talk about your brand with their friends and colleagues. You often see this on social media through competitions and it is very effective. Small companies will never achieve the same numbers as large companies, but you can still significantly increase your base by using what you already have.” ~ Nick Venditti, StitchGolf

4. Host past sales

“As a small business, I compete with larger retailers by holding an early Black Friday sale for my customer list to get ahead of the madness. This has set us apart from the noise every year and made a huge difference to our sales in the fourth quarter. ” ~ Rachel Beider, PRESS Modern Massage

5. Encourage Email Subscriptions

“People will be thinking about the deals months before they happen. Start your campaign early to compete with major retailers. By enticing customers to subscribe to your newsletter, you can give them exclusive offers earlier than the major retailers.” ~ Jared Weitz, United Capital Source Inc.

6. Take advantage of your strengths

“Don’t compete with the big box stores. They can take the financial blow to their margins; you can’t. Instead, capitalize on your strengths and competitive advantage. Do you have a good relationship with your customers? Use them to host a special event. Is there more demand for certain products than for others? Bundle them into deals instead of selling all items at a discount. Enjoy your unique qualities.” ~ Duran Inci, Optimal7

7. Increase Your Social Proof

“If you want to compete with bigger companies, think about the benefits of social proof. More than 90 percent of online shoppers check for reviews before placing an order. You can expect a significant increase in seasonal sales if you have reviews, seals of trust, and live sales notifications (all excellent forms of social proof) on your site. ~John Brackett, Smash Balloon LLC

8. Take advantage of the fear of missing out

“It will not be possible for small businesses to compete with large retailers for price reductions. So they will have to resort to other marketing strategies. Exploiting the ‘fear of missing out’ can work like a charm. Offering limited-time offers, limiting your deals, bundling products, getting celebrity endorsements, and more can give you much-needed audience traction. ~ Jared Atchison, WP Forms

9. Stay true to your company values

“There’s a reason customers choose you over a major retailer, so you have to be careful to maintain that edge, especially during busier holiday seasons. Focus on what makes your company, product or service unique and offer thoughtful offers that customers will appreciate. If you have the resources, offers tailored to customers’ unique buying behavior can go a long way.” ~ Diana Goodwin, MarketBox

10. Be active on social media

“Small companies often have a huge advantage in their customer relationships. Lean on that this holiday season. Reach out on social media and offer separate Black Friday and Cyber ​​​​Monday deals. Promote what’s unique about your offering. Be active and accessible on your social media platforms. The more positive the experience, the more likely your customers are to share your brand.” ~ Blair Thomas, eMerchant Broker

11. Diversify your services

“The best way to attract customers from major retailers for Cyber ​​Monday and Black Friday is to offer things the major retailers don’t. To do that, you need to compare your offer with theirs. It could be a bundle, a gift, better customer service, gift wrapping, layout or free delivery.” ~ Baruch Labunski, Rank Secure