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Make Sure Your Business Is Ready This Season To Satisfy Your Customer’s Needs

Summer falls into autumn, and winter’s close behind. As the seasons change, businesses need to be taking note. Seasonal changes can impact and should correlate with the changes in purchasing habits for a business’s customers, or they can suffer.

Individuals are more likely to purchase certain products or access certain services more than others in different seasons or times throughout the year.

For example, hot cross buns are more likely to be sold during Easter and the month/s preceding it – but are unlikely to be a featured product that does well during November. Warm winter wear is unlikely to sell during warmer months because there is little need for it, and customers are not likely to buy those types of products.

There are many factors that can affect seasonal purchasing, and businesses should identify which factors are more relevant to their business:

  • A change of season: the type of weather in the season (sun, snow, rain etc), what products are primarily needed, how often people visit certain locations during those seasons.
  • Holiday season: Holiday periods result in higher purchasing and purchasing of more novelty items as opposed to need-based items (e.g. Christmas shirts)
  • Seasonal jobs: Employment in certain industries, such as construction trades, changes seasonally, meaning that groups will have more money coming in during certain seasons than others.

Businesses that have products and services which might correlate more with one season than another should be particularly aware of changes in customer practices so that they can make the necessary accommodations.

Product-based Business

Businesses that have products that are more popular during some seasons than others should be analysing data that gives insight into the increases and decreases of purchase of those products. This will allow them to increase inventory during times of demand, so as to not fall behind public demand, and decrease inventory during low-purchase periods, so as not to have unnecessary stock taking up space.

Service-based Business

Businesses providing services that are seasonally popular should consider hiring individuals on a contract basis for the period of high demand. This will allow them to fulfil the demands rather than struggle to meet them with limited employees. Hiring on a contract basis may be more ideal since the number of employees may not be necessary during off-peak seasons.

Businesses should keep in mind that there are natural periods of transition that can be reflected in their seasonal changes to their products and to reflect the needs of their customers.

If you’re someone who often finds it difficult to make large lump sum payments for goods or services, you may want to consider looking into “Buy Now Pay Later” services.

Buy now pay later essentially means that, rather than paying in a full lump sum payment for a product or services rendered, there may be an option to pay through instalments of a certain amount over a set period to make the sum of the full amount in total. This method should allow you to pay in full for the product or service without overly straining your finances – you pay back what you can, as agreed upon when you begin the buy now pay later service.

Some popular buy now pay later services include Afterpay, Zip Pay, Brightepay, and some credit card networks such as  Mastercard and Visa, can offer buy now pay later arrangements.

Though it can be a convenient, immediate solution, it may be challenging to juggle the necessary repayments with other financial commitments. It’s not always the most appropriate method for people, and you should bear in mind your situation and ability in paying back the amounts. 

Before you sign up, keep in mind: 

  • It becomes easier to overspend with buy now pay later services, so know your limits on what you can and can’t afford.
  • You will be charged fees and costs to use the service, which can add up to a princely sum in and of itself.
  • Keeping track of your payments can be tricky if you’ve signed up for multiple services.
  • It could affect your loan applications for a car or mortgage as lenders consider buy now pay later spending just as much as your credit score.
  • Late repayments can appear on your credit report, which affects your ability to borrow money in the future.
  • Layby can be a cheaper alternative to buy now pay later, with no account-keeping or late fees to consider

If you are someone who could make use of BNPL services, you may wish to:

  • Ensure that when using the BNPL service, you stick to a set limit on what you spend so that you can comfortably pay it back later. 
  • Aim only to have one BNPL account at a time to manage payments through, rather than confuse yourself with multiple payments across different providers.
  • Always budget for bills, loan payments and BNPL payments, and 
  • Rather than use your credit card for payments to your BNPL account, consider linking to your debit account instead.

If you would like assistance in planning your financial future, help in managing your budget or some friendly advice, see us for a chat about what we can do for you.

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John Briggs

Jane Noller has been my accountant for the last 15 plus years. I can testify to Jane’s professionalism and expeditious manner in dealing with the day to day issues that surrounds our business accounting.

John Briggs

Registered Building Certifier

David and Alison Parker

I have been consulting J L Noller and Co. (more specifically Jane) for six years and during this time I have found her to be professional, efficient and easy to discuss all accounting and taxation matters with. Her office team are all polite and friendly also.

David and Alison Parker

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Carl Gillmore

I have used Jane & the team for the last 6 years for all of my business & personal accounting needs. They have always been professional, easy to talk to & available when we have needed assistance.

Carl Gillmore

Carl Gillmore Landscape

John Briggs

Jane Noller has been my accountant for the last 15 plus years. I can testify to Jane’s professionalism and expeditious manner in dealing with the day to day issues that surrounds our business accounting.

John Briggs

Registered Building Certifier