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‘Tis The Season for Holiday Promotions

Restaurants that utilize effective holiday promotions can keep their profit flowing and keep consumer attention.

Holidays often emphasize gift shopping and home cooking, but that doesn’t have to leave you with the winter blues.

The National Retail Federation (NRF) released its 2023 holiday spending forecast and published that it expects spending this season to reach “record” numbers hitting between $957.3 billion and $966.6 billion. That’s a four percent increase from 2022.

“Consumers remain in the driver’s seat, and are resilient despite headwinds of inflation, higher gas prices, stringent credit conditions, and elevated interest rates,” NRF Chief Economist Jack Kleinhenz said. “We expect spending to continue through the end of the year on a range of items and experiences…”

The NRF also expects the average person to spend about $900 during the holidays and 62 percent of consumers said promotions are more important to them this year than they were last. Surely some of that money can go towards your restaurant.

Social media giveaways

Giveaways often require participants to like, share, or comment on posts, leading to increased engagement and visibility on your social media accounts. This is a great way to spread the word about your business. Cater the giveaways for holiday gift-giving. The NRF says consumers aren’t looking to spend as much money on themselves this year, they want to spend it on others. So either they’ll take advantage of your promotion to splurge on themselves, or they’ll get to give someone a great gift without spending a penny. It’s a win-win for them and if you plan your promotions just right, it’s a win for you too.

Your giveaway can include a gift basket with seasonal specials you sell. Gift cards are another great option as they’ll get someone directly into your business. Gift cards are also going to be very popular this year, with 55 percent of shoppers telling the NRF they’d like to receive one.

Meal kits and ordering ahead

The holidays for a lot of people mean cooking at home to celebrate with others. But that takes time, physical effort, and mental effort. Consumers have to plan out their meals, calculate ingredients, and so on. If there are any staples your restaurant can provide to others, go for it. Do you have a dish whose ingredients you can break up and sell as a meal kit?

Alternatively, you can offer pick-up services. Do consumers love your freshly made bread? Allow your guests to order ahead so they can pick up some fresh bread the day before or the day of. This would allow you to stay closed for the majority, or all of, the holiday. Consumers can select a time they’d like to pick up the freshly prepared meal items (or you can provide a time frame) and cross another item off their cooking to-do list. I’ll certainly be utilizing this service offered by my local bakery.

Themed evenings

The NRF reported in their survey of over 8,000 adults that experiences are going to be very important to consumers this year. That’s something you can provide.

If you serve cocktails, do themed nights where drinks have holiday motifs like flavors and colors. Decorate for the occasion as well with lights, garlands, etc. However, try to avoid anything too Christmas-specific like trees to try and be inclusive to a larger demographic of guests.

If you have a TV or a place to utilize a projector you can also host movie nights without entrance fees where you play classic holiday movies. Better yet, provide special promotions like discounted beers, hot chocolate, or comfort foods. Guests will come to enjoy a movie viewing and spend money on your goods while they do. Plus, movie nights are great for young adults who want drinks, children, and parents.