First Person: What's Hot in Small Business This Holiday Season?

Wondering how you can increase your share of the holiday shopping season? What people are buying this shaky economic year is substantially different than in years past. Now is the time to expand your offerings and get in on the buying frenzy!

Gift certificates

With less money to spend on gifts, many people are turning to gift certificates to ensure that they are giving the perfect present. All small businesses can offer gift certificates but make sure you read the new federal rules carefully. You will need to honor the certificates for up to five years and are limited on the types and amounts of fees you can charge. Advertise your gift certificates as the perfect gift for hard-to-buy-for person.

Handmade items

Online stores like Etsy have helped very small businesses sell hand-crafted goods all over the world. People are attracted to the one-of-a-kind appeal of handmade gifts and it hearkens back to a simpler time. During this holiday season, consumers are getting back to the basics and handmade gifts help them experience a more intimate holiday season. If your business sells one-of-a-kind merchandise, promote it, both in your store and online to attract customers from far and wide.

Self-help books

When times are tough, more people decide to do things themselves. They are learning how to landscape, cut hair, mend clothes, cook, and even do their own car repair. Self-help books are flying off the shelves at an increasing rate and are very popular this holiday season. How can you take advantage of this if you're not an author? Give your customers tips on how to care for the product they buy from you how to get the most out of the service you offer. Set up a blog or website with this information or send out a newsletter. Customers will be more likely to buy what you're selling if they see the value and frugality of the purchase.

Home entertainment

I'm not talking about big screen televisions and stereo systems this year. More people are buying videos and CD's this holiday season to save their entertainment dollars by staying home. If your business sells entertainment, keep this growing segment of the market in mind this holiday season. Offer entertainment packages that your customers can use to save money over going out for the evening.

Kitchen equipment

One of the first discretionary items to be cut out of the budget when times are rough is the meals and entertainment budget. Fewer consumers are going out to restaurants to eat and more are learning to cook and stay at home. This new breed of home cooks follows television shows like those on the Food Network and is buying pots and pans, cookware, small appliances and other cooking items to make their lives easier. Cookbooks and high end ingredients such as olive oils and balsamic vinegars are hot this year too. If you are a restaurant, offer inexpensive dinner packages to families weary of cooking at home. Value is the key.

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