- E-Commerce
- Checkout Options for Your Online Store
- A Look at Your Online Customer Service
- How to Prevent Abandoned Shopping Carts
- General
- Keep Bad Check Losses Away from Your Bottom Line
- 4 Great Ways to Boost Sales
- Wholesale Gift And Novelty Items Always A Boom
- Marketing
- Tips for Doing More With Less in a Down Economy
- Effective Email Marketing for Your Wholesale Business
- Blogging and the Wholesale Business Owner
- Search Engine Optimization - SEO
- The Basic Rules of Search Engine Optimization
- Basic SEO Tips for Online Wholesalers
For Retailers, the Holiday Season Doesn't Have to End on Dec. 25th
By Sarah Pearson Published: 21/01/2009
It's the start of the new year, and many people, business owners included, think that marks the end of the holiday season and its companion sales and revenue. But while it is true that this time of year usually means the end of that season for the consumer, it does not have to be for the retailer – of any sort – at all, in terms of making sales and bringing in more profit.
No matter what your business sells, you likely pick up more inventory during the holidays to make sure you have enough supply to meet your customers' potential demand. That is always a good idea, because no one wants to get caught short, but it usually means you end up with excess, leftover merchandise after the main holiday buying frenzy dies down in the days after Christmas and New Year's. That is no reason to think that you're taking a loss on those items, though. In fact, you can make them work to your advantage if you shift your thinking and practices a bit.
Most companies slash the prices on these “leftovers” to try to sell them instead of having to send pallet after pallet of merchandise, and that is a great idea to take advantage of, no matter the size or focus of your own company. You can, however, leverage those slashed prices to move regularly priced inventory at the same time. Using the lower cost items as buying incentives for customers will get them in the door, and then while they are there, you should take every advantage you can find to make more sales.
This time of year can be used to great advantage for the wholesalers, too, particularly if you are in the business to business niche. Small retailers like to take advantage of the lower prices during January and February to pick up stock for their own stores. If you offer a great deal on some of your excess inventory, then they are more likely to pick up other items as well, which boosts your sales. Another option is to take your inventory to eBay or another online marketplace, giving individual consumers the chance to cash in on your great deals and consequently let you still make sales on items you may not have sold otherwise.
So just because it's the dog days of winter and the holidays are technically over does not mean that, as a retailer or wholesaler, your buying frenzy is really over for the season. Use your excess inventory wisely, and you will turn a lot more profit than you thought you would!
Wholesale Goods
