We’re in the thick of the holiday season, and for small business owners like me, it’s the busiest—and most rewarding—time of the year. As a fine jewelry designer in New York City, I’ve spent over a decade crafting made-to-order pieces for couples and individuals seeking something timeless and personal. This time of year is particularly crucial for my business, as November through February marks the peak engagement season for couples in the U.S.
But the holidays come with challenges, too. Rising costs of gold and stones have forced me to rethink pricing, and balancing production timelines with customer demands is always a puzzle. After years of navigating the hectic holiday rush, I’ve learned a few tricks that not only help keep my business running smoothly but also give me a strong start to the new year. If you feel like you’re lagging behind as the season rushes by, don’t worry—there’s still time to make it a success.
Turning Insights into Action
The first step to surviving the holiday season is to focus on what’s already working. For my business, we’ve been closely monitoring trends in the specialty jewelry space to stay ahead, and we’ve noticed a few distinct shifts in customer preferences. There’s a growing demand for bigger and bolder engagement rings, even as gold prices rise. Couples view these rings not just as symbols of love but also as investments. This is why prepping for that demand by stocking up on materials for custom rings and wedding pieces has been essential for us. I know that this is what much of my customer base is searching for right now, so my team is doing everything possible to deliver on that.
This focus on top-performing products isn’t just important for jewelry—it’s a strategy all small businesses can benefit from, especially during a season that presents a $76 billion opportunity. Recent survey data shows that 93% of consumers plan to shop small despite an overall 34% drop in consumer spending. For many small business owners, holiday revenue accounts for at least a third of their yearly income, making it crucial to identify top-performing products and adjust strategies in real-time. Look at sales from peak shopping days, like Black Friday and Cyber Monday, to see which items drive revenue. Regularly monitor customer feedback and online reviews to uncover patterns in what people love and what they’re passing on.
You can also dive into customer shopping habits to see how they engage with your business, whether through specific product categories, promotional offers, or time-of-day sales trends. By narrowing in on your best performers and staying flexible with real-time adjustments, you can keep pace with the holiday rush and maximize your success, no matter the type of business you have.
Offer Creative, Last-Minute Value
As a small business, competing on price is tempting, but this can be difficult and unsustainable, especially when you don’t have the same buying power as larger retailers. Instead, I’ve found that adding value in creative ways can set my business apart from the competition and build customer loyalty. Offering services like free polishing, resizing, or personal engraving can make customers feel valued without straining your margins.
For the 93% of consumers who plan to purchase from small businesses this season, shopping small often means more than just finding a lower price tag. More than half of these shoppers say they are driven to shop small because they can find more unique and high-quality gifts, and others enjoy the opportunity to contribute to their local communities and support entrepreneurs.
As a business owner, consider incorporating thoughtful gestures into the purchasing experience that speak to these consumer desires. For example, I love including handwritten thank-you notes with the jewelry I sell during the holidays. While customers may come for the product, they’ll return because of the experience and the feeling of being personally cared for. These details matter, especially in a world where so much shopping is done online.
Use Technology to Stay Agile
With so many moving parts, it’s easy to get overwhelmed by the financial side of being a small business owner during the holiday season. Managing cash flow and staying on top of expenses and invoicing is always important, but never more so than during this time of year. This is where using online accounting software has been a game-changer for me. Before I started using Intuit QuickBooks, I had no formal financial experience. I even went through a period of panic during the pandemic when manufacturing interruptions left me without new inventory for months, so I had to pivot quickly to keep my business afloat. Instead of panicking, I leaned on financial tools to analyze past sales data and my spending.
The result? Despite significant challenges, I saw a notable increase in sales. Having clear financial insights helped me identify where to invest my efforts and make informed decisions during a critical time. It’s a reminder that technology isn’t just for managing the numbers—it can also empower you to pivot strategically, set achievable goals, and overcome obstacles even during the busiest season of the year.
For small business owners, the holiday season is a time to connect with customers, build lasting relationships, and make the most of the shopping rush before you close out your books for the year. While the hustle can be intense, staying focused on what’s working for your business, offering thoughtful value for customers, and using the right digital tools can make all the difference. Lean into the connection with your customers, and you’ll not only survive the holiday season but you’ll also lay the foundation for long-term success.
Shahla Karimi is the Designer & Owner of Shahla Jewelry.
