South Africans are getting ready to fire up their braais and gather with friends and family over the Braai Day / Heritage Day weekend.
This coming long weekend gives retail business owners the perfect opportunity to boost sales as shoppers prepare for a few days of fun and relaxation.
But, only those retailers who would have been quick in their thinking with innovative ideas to make things happen would be able to take advantage of the opportunities to drive sales and increase profits, says Steven Heilbron, CEO of the Connect Group.
Heritage Day / Braai Day is one of many opportunities for retailers to capitalise on – like Black Friday, Valentine’s Day or even Easter.
Retailers can take advantage of these opportunities as and when they present themselves, especially since there are fintech solutions available that allows for quick access to business funding in 24 hours.
The onus is, however, on the retailer to be innovative and agile to never miss an opportunity to grow their businesses.
Heilbron suggests three ways retail entrepreneurs can boost trading over the Braai Day long weekend.
1. Get trading capital in 24 hours
The Braai Day / Heritage Day long weekend is a great time to attract customers with specials and in-store promotions.
Retailers can offer attractive Braai Day promotions to increase footfall. They could also boost profit, by offering a more memorable bricks and mortar shopping experience by lighting a braai and serving boerie rolls tasters or offer take-away shisanyama meals, for example.
It all becomes possible with click-and-borrow financing solutions, like Capital Connect, which allows retailers to access business funding of up to R2.5 million in just 24 hours without any fuss.
Retail entrepreneurs can stock up, take advantage of bulk purchases or supplier specials, and create new experiences for their customers – allowing no opportunity to slip through their fingers.
2. Get instant access to vault cash
When a retail business owner installs an automated cash vault solution, it’s just like putting a bank in the store.
Once the retailer deposits their cash into the cash vault, funds are guaranteed and they can get real-time access to cash in the vault, at the click of a button if they need it.
This instant access to cash ensures that retailers can have cash flow, whether it be for an urgent stock delivery or just to run a Braai Day promotion.
3. Innovate and diversify
As we’ve learned during the pandemic, there are many ways that retailers can innovate outside the walls of their physical stores.
Home deliveries and click-and-collect are now a trend and becoming highly relevant business models.
Now is a good time to think about what today’s smartphone-enabled customers want. Is it time to join a home delivery platform or set up an app or e-commerce store?
How can the brand use social media and online marketing tools to promote its offerings to local shoppers and bring them into the store with competitions or giveaways?
“Quick access to working capital opens doors for retailers, enabling them to grow and thrive.
“We are constantly expanding our set of fintech solutions to help SMEs to unleash their potential—whether that is achieved through smart retail cash management, access to opportunity capital or value-added products and services that give their customers that extra edge of convenience,” says Heilbron.