The country is beginning to open back up and people are starting to feel more confident about resuming their daily lives. No matter the circumstances, this is the time of year when retailers start to think about their holiday plans and how to prepare for what promises to be an unprecedented holiday season. In order to recoup any losses from shelter-in-place restrictions and maximize your profits this winter, you’ll need to effectively plan your promotional and themed packaging inventory. We recommend auditing your themed supplies and ordering specialty items as soon as possible.
Here are a few tips to help streamline the process:
Inventory Your Current Stock
Make sure you have an accurate measure of your current stock. It’s important data to have, so you can estimate your demand. Additionally, knowing your current stock helps prevent you from running out of stock later.
Allowing for these uncertain times, estimate how much packaging to order based on last year’s sales. Make an alternative plan if you end up with more inventory than needed. For example, plan to reuse potential stock overages next year by omitting any date-specific verbiage.
Contact Your Supplier ASAP
If you haven’t already thought about the holiday season, you’re most likely in need of more inventory. If you run low on stock sooner than planned, know when the last possible date is to order merchandise. If your supplier is overseas, for instance, it could take months to stock back up, which of course makes it nearly impossible during the holiday season.
Don’t miss out on the opportunity to maximize profits this holiday season. Retail trend forecasting points to a strong holiday season from pent-up consumer demand. According to Digital Commerce, 47% of shoppers experienced both out-of-stocks and shipping delays. Placing your holiday packaging order in a timely manner will help buffer any delays. Customers have had plenty of time to think about holiday purchases, make sure you’re ready to wow them with the perfect holiday shopping experience.
Give us a call at 617-970-3756 or send an email to discuss your unique holiday packaging needs!