The festive season (Christmas and New Year) is fast approaching. It is a period when demand for certain goods and services increases. You can capitalise on the seasonal demand to make some good money by venturing into or investing in any of these businesses.
Sale of rice
There has been an increase in the price of rice (especially the imported brands) lately due to the closure of our land borders with neighbouring countries. However, this is not likely to reduce the demand for rice during the festive season.
Rice is one of the most coveted gifts during the season, as corporate organisations and individuals give out bags of rice as gifts to their valued clients/staff and loved ones respectively. In addition, people eat more rice during the season.
However, the trend this season may be that the demand may tilt in favour of the 25kg and 10kg bags, instead of the 50kg bags.
Sale of chicken
A key item that will be part of meals during the festive celebrations is chicken. Those who sell live chickens this season cannot go wrong. Parents strive to buy this for consumption by their children and guests and chicken is a perfect combination with rice. Also note that neighbourhood parties increase during the festive season with street associations, estate associations and several others having Christmas parties and carnivals. For anyone selling live chicken, provision of killing and dressing services will be a plus.
Sale of clothes and shoes for children
The festive season is a period when parents purchase new clothes and shoes for their children and wards. The increase in demand is because people want their children to be well dressed as they attend parties, visit friends and families, or go to recreational centres.
Sale of Christmas decorations and Christmas lights
Christmas is a period when people like to decorate their houses and offices with Christmas lights, decorations and trees. Such decorations give their houses/offices a new look and adds colour to the premises.
Sale of Christmas hampers
It is a season of giving. Despite the state of the economy, Christmas hampers will still be given out as gifts by corporate entities and individuals to show appreciation to their clients/loved ones. However, the purchasing power of the buyer will determine the grade of the hamper to be bought (essentially, the content).
If you plan to sell hampers this season, make sure you do not limit yourself to the high-grade hampers alone; have some mid-grade hampers in stock too.
Sale of gift items
There is an increase in demand for gift items such as perfumes, wristwatches, jewellery, bags and so on. during the festive season.
People tend to give gifts to their loved ones, as it’s a special season of giving. Moreover, sellers of hampers also buy some of these gifts to include in their hampers.
In conclusion, it may be possible for some of these products to be more marketable in particular locations. One should consider the marketability of the products vis-a-vis the location.
By Bode Omotoye
(A Chartered Accountant & Banker who resides in Lagos)