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Business Tips

  • The Benefits Of Placing Your Holiday Orders During 1st Quarter

    Posted February 19, 2018 By in Business Tips With | Comments Off on The Benefits Of Placing Your Holiday Orders During 1st Quarter

    In today’s retail marketplace, developing your buying, marketing and merchandising plans months in advance of a selling season is one of the best business strategies you can have as a business owner. Formulating your plans ahead of time can be beneficial in helping you implement your strategies, reach their goals, and fulfill your vision.

    While many retailers hesitate to place their fall and Christmas orders during the spring market season, there are some key reasons why it makes sense to do so…

     

    • YOUR ANALYSIS IS FRESH–The start of the new year is an ideal time to re-cap your holiday business, including sales, profitability and margins. Knowing the results of the previous season will help you accurately forecast how much merchandise you’ll need and help you develop solid goals for the next season.  Accurate seasonal planning leads to improved sales, less surplus inventory and fewer markdowns.

     

    •  UNDERSTANDING THE TRENDS—Most seasonal manufacturers introduce their fall and Christmas collections during spring markets (January thru March). When you shop for seasonal items during the 1st quarter, you’re seeing product and color trends early which gives you a jump on competing retailers.  Once you’ve seen the trends you can begin to develop your 3rd and 4th quarter merchandising and marketing plans with that information in mind.

     

    • ORDER WITH CONFIDENCE—With the holiday season just behind you and analysis of what worked and what didn’t, you can place your holiday orders with confidence.  Your sales analysis along with the new product trends will help you identify which successful product categories to build upon and which down-trending categories you may want to move away from.  Long range planning in a retail business is tied to increased profitability.

     

    • STRETCH YOUR BUYING DOLLAR–Another benefit of placing your holiday orders during the spring market season is taking advantage of  any show or market specials that  manufacturers offer during the 1st quarter.  Dating promotions or volume discounts allow you to stretch your buying dollar and maximize your profit margins.  And with dating programs, you can receive inventory and process your orders early which means less work for you and your staff during the busy holiday season.

     

    • FIRST IN, FIRST OUT–Placing seasonal orders during the 1st quarter will put your orders in line for early fulfillment and shipping by the vendor. Orders  placed later in the year risks items being solid out which could impact your merchandising and sales plans.

     

    • GET CUSTOMER FEEDBACK and BOOST SALES—If you have an e-commerce business, receiving seasonal products early can give you a boost in sales.  You can run a Christmas In July (or August) promotion making products available for sale online during the summer months.  The promotion can help boost your 3rd quarter business in addition to giving you an early read on how customers like the seasonal items you’ve purchased.  Products that get a lot of attention and/or sell out early on the website will probably do the same in store.  Use these early sales results to fine tune your seasonal assortments and product quantities to ensure you’ve ordered the right amount of inventory.

    If you haven’t done so already, there’s still time to place your Creative Co-Op seasonal orders and take advantage or the show specials.  Contact JPM Sales or your sales associated to schedule a showroom appointment or an appointment in your store.  Or you can schedule an appointment during the upcoming Atlanta Spring Gift, Home Furnishing & Holiday Market–March 7-9th.

     Creative Co-Op

    Atlanta Gift Mart, Building 2- Suite 1080

     

    Until next time…

JPMsales Copyright 2018