The cold is right on our doorstep, which means it’s time to prepare for more nights in, more load shedding and the return of the winter sale.
While many businesses can thrive during the winter, others are planning innovative ways to stay above water. Whether you’re going off the grid, finding ways to keep customers interested, or looking for alternative ways to reach your customers, preparation is key.
Here are some things SMEs should be looking out for:
Consumer expenditure
As the temperature decreases, several changes occur to consumer expenditure. First and foremost, homeowners can expect increases in the cost of electricity and water during these times, which is then balanced out as people opt to stay indoors more, giving them less desire to make non-essential purchases.
This has significant implications for businesses that must surrender to seasonality. Restaurant owners, as one example, experience these implications as they rely on people coming to their venues. So, how does the Food and Bev industry prepare for this?
In the past, it would have been as simple as budgeting for the quieter months – which is still entirely necessary today. However, businesses now have the capability of investing in food delivery services, making it easier to reach customers and maintain demand.
Load shedding in winter
It should be no surprise that Eskom is forecasting additional power outages this winter – Increases in the consumption of electricity are certainly inevitable. With less daylight, people are using more artificial lighting and with cold temperatures, they’re also utilising heaters and electric blankets.
Businesses across the country have first-hand experience with the losses incurred due to load shedding and many of them are already planning to get off the grid. With this season looking a bit darker, there is no time like the present to invest in new sources of energy.
Whether you’re finally about to get that generator, or you’re looking into solar energy, both are worth seriously considering. The time is now to plan ways to combat the expected downtime if you haven’t already. And remember that although the investment might seem out of reach, Bridgement is available to support SMEs who require business finance, allowing them to prepare for load shedding this winter.
Seasonal winter campaigns
Certain times of the year yield significant traffic for businesses, but this hasn’t always applied to everyone. These days, it doesn’t matter what industry you’re in, every business can chop and change its offering as the seasons pass us by. For example, you can run limited-time discount offers for your services, buy small quantities of winter-related products to appeal to seasonal excitement or run in-store sales to maintain foot traffic.
Businesses need to be agile when faced with various challenges, so if you haven’t already, it’s time to put your thinking caps on and welcome new ideas that keep those customers coming back for more.
To conclude,
The upcoming winter season means different things for different businesses. However, if one thing is true, an idea can always be conceptualised and a plan can always be put in place to maintain your bottom line. People do expect businesses to be ever-changing and appreciate them when they are. Thus, investing in tools such as Mr D, buying a small amount of winter-related items, or even lowering prices for the short-term are options that should be considered.
With Bridgement as your partner in finance, there is no need to look to the future with concern. Instead, you can rest easy knowing you’re completely prepared for winter with the finance to make things happen.
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