Every Retailer Should Know These Tips on Preparing Warehouse Inventory for Major Rushes
February 26, 2015
Your products can’t exactly fly off the shelves if they’re not on the shelves in the first place! The solution rests in the supply chain: always knowing where your products are, and how they are going to get to your retail store (and/or your online store). Here’s how to maximize profits during your the peak season. Plan Early It’s not just putting the tinsel up after Halloween. It’s launching your holiday promotions earlier (like emailing your customers an exclusive Boxing Day promotion that allows them to begin shopping on Christmas Day, while they digest their turkey). What else?
- Start hiring extra staff early, so you have time to train them
- Review your past sales data so you can respond to the higher holiday demand
- Where possible, delay the final customization of finished goods until the demand is certain
- Predict consumer behaviour using historical data, market research and social media