Busy shopping periods quickly approaching
Are you ready for the biggest shopping season of the year?
Black Friday promises to be one of the busiest shopping days of the year for retailers, followed by Cyber Monday. However, there are also a few other days that promise to be big days for retailers across the country and it's good to start preparing for these.
Golden Week is a Chinese national holiday that begins on 1 October and last for 7 days. Over this week, there is an estimated number of more than 705 million Chinese travellers, a proportion of which will come to New Zealand for a holiday. It can be expected that there will be an increase in tourism and spending from Chinese visitors during that week, particularly if you are in a major tourist area. It's a good idea to make sure you can make the most of these opportunities by having all payments options available, so if you don't already accept Union Pay, you might want to make sure it's switched on. Just ask us how!
11 November is also an important, although unofficial, Chinese holiday, known as Single's Day. This day has become one of the largest offline and online shopping days in the world, with Chinese consumers spending on a variety of websites and retail outlets globally, wherever they are. It is worth considering if special deals or product is worth stocking and marketing to your customers for this one day event - which could help lead retailers to hit the black ahead of December. Black Friday is late in November this year, occurring on Friday 29 November and Cyber Monday falling on 1 December. This will be an incredibly busy time for retailers, retail staff and consumers alike.
Check out our Christmas Page for all you need to know to prepare for the biggest shopping season of the year and get some guidance from our experts on merchandising, how to pay your staff on public holidays and shop trading restrictions for Christmas Day.
Published in the 29th October 2019 edition of Talking Shop.
Baffled by advertising laws? We have the guide for you!
One of the more tricky areas to get right when you're running a retail business is pricing and advertising. There are strict rules around what you can do, and harsh penalties if you don't comply.
For this reason, we've produced a guide to help you get this area right. Our advisers have clearly and simply explained what you need to know and there is plenty of practical advice that will be directly relevant to your business.
We hope this guide will be really useful to you and your employees as we enter the busy holiday season! It's FREE for Retail NZ members (or $29 plus GST for non-members).
And as always, if you have any specific issues in this area or any other, our Advice Service is here to help and can be contacted by email or phone 0800 472 472 (1800 128 086 from Australia).