The holidays are right around the corner, so it’s time to start finding ways to maximize your holiday sales. There are many ways that you can maximize holidays sales, you just have to understand how to do it the correct way. FGmarket’s marketing tip will focus on how to maximize your sales during the holidays.
Focus on your best items – Your best sellers will definitely be the ones that help drive your sales during the holiday months. These are items that your customers have shown definite interest in when coming into your store or have been asking about. Make sure you switch your focus to these items and stocking up. You don’t want to sell out or not have enough in inventory to satisfy your customers.
How many units – Once you narrow down your best items, think about how much you will need of it. It’s hard to predict, but it’s nice to have an estimate. How much do you plan to sell? Yes, you can identify your best items, but you also need to know how much to be prepared.
What will your ending inventory look like – How much inventory do you want to end the season with? You’re either going to end up not having enough or have some items left over. Since these items are your best, you want to plan to have ending inventory. The items that everyone wants will have the least risk of being marked down. Even if you mark them down by 20%, you can still generate a profit with them at the end of the season.
Have a purchasing plan in place – This place will detail items, delivery dates, quantities, vendors and pricing. Focus on your top selling items and where you can get them from. Don’t forget, you need a vendor who will meet your needs.
Communicate with your vendors – It’s important this time of year that your deliveries are on time. You want to make sure that you have these items in your store to sell. If you get them late, you’ll have to mark them down. However, if they’re on time, the more you can sell and even order more from your vendors. It can be a win win situation for both of you.
Clear out your slow sellers – If you notice some items aren’t selling as well, mark them down and make room for your best sellers. Also, the sooner you clear them out, the less you need to mark them down. If you mark them down by 30% before the holidays arrive, you can profit more. However, if you still have these items left at the holidays, you will more than likely mark them down by half or even 75%.
Gift cards – Gift cards are a go to gift during the holiday seasons. However, it’s all about proper planning when it comes to gift cards. The recipients will come in after the holidays. They may find great bargains depending on your leftover inventory. However, make sure you have some but you also have room for more transitional inventory.
Start planning our your holiday sales plan and you will see profits.
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