Top 6 Business Planning Action Points for the Diwali Festival Season . Failing to Plan for your Business, is Planning to Fail in your Business.

Retail Business Planning

Jewellery Buying for the season is on. Retailers, Vendors are all busy with “orders”. Is Business Planning a part of your business too?

Clearly the market is getting ready for the season.

Retailers and suppliers are optimistic.

This will, probably be one of the best seasons in recent memory.

Here are 6 important things that retailers, can do to really benefit.

1.     Creating and executing to a Business Plan

The right way is to plan everything ahead. A September to November plan.

When you now have the time for marketing campaigns, confirming the orders for staggered deliveries or even renovating the store.

2.    Customer Relationship

Begin with connecting with the Customers, about the season ahead!

Even a small promotion to remind them of your special relationship with them. It could be Ganapati Festival or a Teachers Day. Any event to invite the customers to come to the store.

This promotion is not at all about “selling”. It is more about “relationship” building. Even making it a social event at the store.
want to increase stock rotation
3.    Staff Management

When was the last time, you really thanked your staff? In gearing up to the big season ahead, there is some time and space ahead for sure.
Why not use this time to take them for a movie or a picnic or a party at a hotel near-by. You would want them to be charged for the season, right?
Don’t forget to, use this time to train your staff for the season ahead on Good Retailing Practices.

4. Inventory Management

Sure, you have placed good orders. Suppliers are happy, yet tense waiting for order confirmations. From past experience, they know that if Dasera is good, every retailer wants to confirm and get stocks delivered. But how can that be humanly possible? It’s like delivering a baby in 6 months.

If you have planned properly ahead, then why not take staggered deliveries. You will get the best product at the right price and quality too.

5.    Marketing Plans

Creativity is not something, that can just “come out of a factory”.

Truly innovative campaigns require time and effort.

A well thought out marketing plan, consisting of all the marketing elements will make all the efforts worthwhile.

6.    Lastly, infrastructure.

Whether it is renovating the store, having the latest and tested software or improving your inventory management practices, this is the time to get ready for the Big Season ahead.
We have time on our side now. Why not make use of it?

This article is part of a series of articles written by Shivaram, Founder of Retail Gurukul.
Retail Gurukul are a much sought after team of Consultants and Trainers for leading jewellers in the country, having worked with 200+ business and trained 6000+ staff so far.

Contact Director Shivaram on 9036036524.


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