How Your Consignment Store Can Make the Most of Christmas Shopping (Updated for 2024)

How Consignment Stores Can Thrive This Christmas Season in 2024

The Christmas shopping season brings a rush of customers and revenue to retailers and resellers alike. For many businesses, the holiday period generates a significant portion of the revenue that sustains them throughout the year. Consignment businesses, with their unique offerings, are particularly well-positioned to thrive during the holidays by offering a distinct shopping experience that aligns with current consumer trends. We've updated this article to reflect the growing trend toward sustainability and the growing consumer interest in unique, secondhand items, which are driving increased foot traffic and sales. According to a recent 2023 survey by ThredUp, 82% of shoppers are open to buying secondhand gifts, with a growing number actively seeking out sustainable and unique items (ThredUp, 2023).

Consignment at Christmastime

Consignment stores stand out because they offer one-of-a-kind items that aren't typically found at mass retailers—an ideal match for creative gift-givers looking for unique, sustainable, and personalized presents. The year 2024 has brought an even greater focus on sustainability, and consignment stores are benefiting from this shift. Many shoppers now prefer buying secondhand items as a way to minimize their environmental impact while also giving something special and distinctive.

In addition, consignment stores often run enticing holiday promotions and discounts, which attract bargain hunters. For many customers, this combination of unique finds, sustainability, and lower prices makes consignment an appealing option during the holiday shopping rush.

The result? A surge in foot traffic and online engagement. In the weeks leading up to Christmas, many consignment stores can experience a 25-30% increase in sales compared to other times of the year. This spike also applies to consignors themselves—individuals keen on decluttering their homes and making extra cash before the New Year often bring in more items, including holiday-themed decorations, clothing, and collectibles.

Maximize the Christmas Season

To fully capitalize on the increased sales and consignment opportunities, store owners need to prepare strategically. Best practices for 2024 include:

1. Increase Staffing and Training

2. Promoting Gift Cards

3. Offering Discounts

4. Offering Free Shipping

5. Offering Gift-Wrapping Services

6. Create a Festive and Inviting Store Experience

1. Increase Staffing and Training

With increased foot traffic and online sales during the Christmas shopping season, having the right level of staffing is essential. Research shows that understaffed retail stores can lose up to 20% of potential sales during peak shopping seasons due to insufficient assistance for customers (National Retail Federation, 2022). Hiring seasonal employees remains a tried-and-true strategy, but it's important to make sure that they receive sufficient training—especially with today's customer expectations for excellent service. Updated for 2024, this section underscores the importance of cross-training staff to handle both in-store and online customer interactions, reflecting the hybrid shopping trends of today. The International Council of Shopping Centers reported in 2023 that hybrid shopping—combining in-store visits with online research or vice versa—has become the preferred approach for 60% of shoppers (ICSC, 2023). Make sure that:

• Training Is Focused: Seasonal workers need to be familiar with the consignment process, your store's values, and how to effectively use your POS system.

• Emphasis on Customer Service: Customer service is still a key differentiator this year. Your employees, especially seasonal hires, should be friendly, approachable, and equipped to answer common questions. Aim to enhance the customer journey, both in-store and online, through meaningful interactions.

Additionally, consider cross-training staff to handle both in-store and online sales, returns, and customer inquiries—a growing necessity as e-commerce and hybrid shopping experiences evolve.

2. Promote Gift Cards and Store Credits

Gift cards continue to be a popular holiday choice, and this year, digital gift cards are more in demand than ever. A 2024 survey by Deloitte found that 68% of consumers prefer receiving digital gift cards as they offer convenience and the ability to shop both online and in-store. This reflects the latest consumer behavior where digital convenience is paramount, and personalized, festive gift cards help add a unique touch for shoppers. A few best practices include:

• Discounts on Future Purchases: Offer a 10% discount on future purchases when someone buys a gift card of $100 or more.

• Digital and Physical Options: Make sure your gift cards are available both in-store and online. Highlight them on social media and email campaigns.

• Custom Holiday Designs: Create festive designs for your gift cards that will appeal to Christmas shoppers. Consider personalization options, allowing customers to include a short holiday message.

3. Holiday Promotions and Exclusive Discounts*

This section includes new strategies for 2024, such as flash sales and countdown discounts that leverage social media to create urgency and excitement among shoppers. A study by HubSpot in 2023 showed that flash sales promoted via social media can increase sales by up to 35%, especially when using a countdown timer to create urgency (HubSpot, 2023).*

While offering discounts is a common way to drive sales, here are a few enhanced ideas for 2024:

• Flash Sales and Countdown Discounts: Creating a sense of urgency helps. Use limited-time flash sales on social media or your website, like "24-Hour Deals" or an advent-style countdown featuring different items on sale each day.

• Loyalty Program Enhancements: Reward repeat customers with additional points during the holiday season, which they can use in the New Year. Promote exclusive deals for loyalty members to create buzz and reward your most loyal patrons.

4. Free and Green Shipping Options

With more shoppers making purchases online, free shipping remains a powerful incentive. According to a recent Shopify report, 75% of customers say they are more likely to make an online purchase if free shipping is offered (Shopify, 2023). In 2024, we're seeing more interest in environmentally friendly practices, so incorporating 'green shipping' options is a great way to appeal to conscientious shoppers. A 2024 survey by McKinsey showed that 55% of consumers are willing to pay more for environmentally friendly shipping options (McKinsey, 2024). Consider adding a "green shipping" option—partner with eco-friendly couriers or offer carbon offsetting options for conscientious customers.

• Free Shipping Threshold: Offer free shipping on purchases above a certain amount (e.g., $100).

• Local Pick-Up and Same-Day Delivery: Provide in-store or curbside pick-up for local shoppers who want to skip the wait. You could even offer same-day delivery within your community for a small fee.

5. Offer Gift Wrapping Services

Gift wrapping can be a game-changer for busy holiday shoppers. This year, think about:

• Sustainable Wrapping Materials: Offer gift wrapping with recycled or sustainable materials, like kraft paper or fabric wraps, and make sure your customers know this—it resonates well with eco-conscious shoppers. The Ellen MacArthur Foundation found that 60% of consumers are more inclined to buy products with sustainable packaging, highlighting the importance of this offering during peak shopping periods (Ellen MacArthur Foundation, 2023).

• Personalization: Allow customers to add personal touches, such as handwritten tags or unique ribbons, to make the gift truly special.

• Free Wrapping for Orders Over a Certain Amount: Entice customers to spend more by offering free gift wrapping for orders over a set amount.

6. Create a Festive and Inviting Store Experience

A festive atmosphere can significantly boost sales and enhance the customer experience. Here are a few ways to enhance your store: Updates here for 2024 include ideas for leveraging social media and creating more immersive in-store experiences, like interactive events and engaging holiday-themed challenges. A survey by Eventbrite in 2023 found that stores hosting interactive events during the holiday season saw a 20% increase in foot traffic and a higher likelihood of repeat visits (Eventbrite, 2023).

• Holiday Displays: Create visually appealing holiday-themed displays featuring the most gift-worthy items in your store. Update these displays regularly to keep them fresh.

• In-Store Events: Host a holiday-themed event, such as a "Hot Cocoa and Shopping Night," complete with snacks and exclusive discounts.

• Interactive Social Media Campaigns: Utilize Instagram and TikTok to showcase your festive store displays and run fun holiday campaigns, like a "12 Days of Thriftmas" challenge where followers can participate in unique ways for a chance to win prizes.

Summary

In 2024, consignment stores have more opportunities than ever to shine during the holiday shopping season. We've updated this article reflect some key changes for 2024, such as the focus on sustainability, increased online shopping trends, and new methods for driving customer engagement. By adopting both customer-focused strategies (like offering eco-friendly gift wrapping and exclusive discounts) and store-focused approaches (such as better staffing and enhanced training), you can increase your sales and ensure a successful holiday season. If you haven’t already started, consider implementing one or two of these ideas to get the ball rolling. And remember—each step you take now sets you up for an even better performance in future holiday seasons. Check out how to start using giftcards in ConsignCloud here.

Here’s to a festive, profitable, and unforgettable 2024 holiday season!