Posted by Alex Jackson on 8th Sep 2017
So it’s now 11 weeks until Black Friday and the official start of the holiday shopping season, so what’s your game plan this year? If you haven’t mapped it out yet now is the time before things get too hectic, so what factors should you consider? Well cover all the basics but also try to factor in those unexpected hiccups that invariably occur.
Apply what you have learned from previous seasons- Let’s face facts the holiday shopping season gets earlier every year. Shockingly a lot of people are shopping now for the holidays and over the next few weeks both brick & mortar and online retail will be throwing sales galore at these early shoppers to entice them into spending now instead of at the last minute. What’s the takeaway here? Get prepped early! October is the new November in terms of shopping for the holidays, so get started now or risk missing out on those holiday dollars.
Fill the pipeline- We said it before and will say it again, the key to planning ahead when it comes to inventory is to keep a steady flow of merchandise coming in ,after all it can’t go out as a sale if it’s not coming in.
Time the pipeline- Having inventory at the right time is also very critical. Consider that it takes roughly 10 business days for you to receive your order add on a few days to check it in and either post it or tag it for sale and you could easily be looking at 3 weeks between the order being placed and the goods being up for sale. Want to have a ton of goods for sale right before Black Friday? Then you better plan on placing that order NOW which will leave enough time to process your order and to have it available for sale on the big day.
Planning for the unexpected- it’s bound to happen that bump in the road it could be an unexpected bill eating up your capital or a family crisis that can cost you precious time. The key here is to try not to be under the gun either financially or for time. Plan ahead and factor in these hiccups by setting aside funds to keep the business rolling and by staying ahead of the game and process your orders now, so you have plenty of time in the heart of the busy season.
Having a plan in place also saves your sanity! - There’s nothing worse than getting totally stressed out in the busy season, it will happen at some point but minimize the effects by keeping to your schedule. It’s also a good idea to set aside some down time just so you can collect your thoughts and make changes if needs demand it.
The race for the holiday season is on. Order wholesale lots today, don’t delay!