As September comes to an end, the Christmas shopping season is getting closer. For retailers, now is the time to start planning your Christmas stock, rather than waiting until November or December when demand is already picking up.
Ordering early gives you more time to review what sold well last Christmas, identify your best-selling products and plan your stock levels based on real sales data.
Look Back Before You Order
What sold well?
Identify your best-selling products, brands and categories from the Christmas period. These are the products customers were actively looking for, so reviewing their sales performance can help you decide how much stock you may need this year. It can also highlight products that may need to be ordered earlier to ensure they are available when demand increases.
What didn’t sell?
Not every product performs well at Christmas. Look at products that were slow-moving or left you with excess stock after the Christmas period. This can help you avoid ordering too much of the same Christmas stock again and reduce the amount of stock you may need to discount or carry into the new year.
When did sales increase?
Look at your sales trends from October through December to understand when demand started to build. Did certain products start selling earlier than expected? Did sales increase significantly in November, or was the biggest increase closer to Christmas? Understanding these patterns can help you decide when to place orders and when you may need additional stock available.
How much stock did you need?
Use previous sales and stock data to help forecast the quantities you may need this year. Comparing the number of units sold with your previous stock levels can give you a better starting point when deciding how much Christmas stock to order.
Don't Leave It Until December
The closer you get to Christmas, the more important stock availability becomes. Popular products can sell quickly, while leaving orders too late can make it harder to get the stock you need.
Planning now gives you time to review your figures, place orders, monitor sales and adjust your stock levels as the season progresses.
Your retail management system should make this process easier by giving you access to the sales, stock and reporting information you need to plan ahead.
Is Your Retail Technology Ready for Christmas?
The right retail technology can help you understand what is selling, manage your stock and make better purchasing decisions throughout the busy Christmas period.
Not sure if you have the right retail technology in place for a successful Christmas trading season?
Get in touch with Positive Retail and speak to our team about your retail management system, reporting, stock management and the technology you need to prepare for the Christmas rush.
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