How to thrive in the 2024 retail holidays with your BPO partner

The advent season, marked by anticipation and festivity, holds immense significance for the retail industry. It’s a period when consumers are in a heightened state of buying, driven by the search for perfect gifts, holiday deals, and seasonal splurges. 

For businesses, this translates into a crucial window of opportunity to boost sales and attract new customers. The holidays bring a unique blend of challenges and opportunities, demanding strategic planning and flawless execution.

In this article, we’ll explore how businesses, together with their outsourcing providers, can prepare for the 2024 retail holidays to ensure a profitable and successful retail period. 

Further, discover how OP360 can help you optimize holiday readiness and maximize your sales potential.

Looking back to 2023 US retail holidays

National Retail Federation’s (NRF) data shows that in 2023, holiday sales in the US soared to over $964.4 billion despite ongoing inflation, marking a 3.8% increase from 2022. 

This growth contributed to a remarkable overall annual sales figure of $5.13 trillion, reflecting a 3.6% rise.

The said numbers align with the average annual increase seen from 2010 to 2019, which highlights a robust season for retailers.

How can you take advantage of this situation?

According to the Telus International Survey, 48% of consumers prioritized faster customer experiences. This is particularly evident among younger shoppers, with over 50% of Gen Z consumers willing to pay extra for same-day delivery options.

Given the ever-evolving consumer behavior, a lot of retailers collaborate with top outsourcing providers like OP360 during the holidays to boost sales for these various reasons: 

• Scaling operations without hiring
• Specialized handling of critical tasks (e.g., customer service and order processing)
• Cost savings with flexibility

Partnering with premier outsourcing firms helps retailers amplify customer satisfaction and maximize sales during the bustling holiday season.

How to achieve profitable retail holidays with your BPO partner

Drawing from insights gained from past holiday seasons, retailers should prioritize both planning and improving their customer experience strategy. 

For companies working with a BPO partner, consider asking the following questions to strengthen your competitive advantage during the holiday season:

1. Did your BPO partner start preparing for the holidays as early as summer?

BPO providers must start preparing for the holidays as early as summer to ensure they have enough time to plan, train staff, and implement strategies effectively. 

Early preparation helps them handle the anticipated increase in customer inquiries, orders, and other tasks efficiently. Preparing ahead minimizes the risk of delays or errors during the busy holiday season.

2. Did your BPO partner develop a strategy to solve previous holiday support problems and prevent them from happening again?

A robust plan to address past holiday support issues and mitigate their recurrence ensures smoother operations and improved customer satisfaction. 

Focus on customer metrics such as CSAT, NPS, and ease of use as they provide valuable insights into your strategies. Utilize these elements to identify and resolve overlooked issues and prevent similar problems from arising in the future.

Successful implementation can help enhance business processes and better meet customer needs during future holiday seasons.

3. Did your BPO partner provide a plan for handling support inquiries on social media?

Social media platforms are integral in handling online support and answering queries. Effectively handling your social media channels during retail holidays is a must for quick and convenient communication. 

A well-developed social media strategy ensures timely responses and helps address issues promptly. This proactive approach can also enhance brand reputation, foster customer loyalty, and drive sales during the busy holiday season.

Boost your 2024 retail holidays’ success with OP360

Magnifying your 2024 retail holiday success starts with strategic planning and the right partnerships.

By leveraging OP360’s expertise, you can:

• Streamline operations
• Enhance customer experiences
• Build up sales during the crucial holiday season

Don’t leave your holiday success to chance—partner with OP360 and ensure a profitable and smooth retail season. 

Connect with OP360 today to start preparing for your best holiday season yet!