Checklist to get your jewelry business ready for holiday season 2020
The holiday season is right around the corner. Thanksgiving Day, Black Friday and Cyber Monday (BFCM), Christmas and Boxing day, come the biggest sale season of 2020, which means much more significant to year 2020.
This year is special, many people has shifted to online shopping and we believe this shift will continue into the holiday season and beyond. It is definitely a great opportunity to boost your sales and help your business to finish the year strong.
If you want to make the most of this year’s biggest shopping event, it’s critical that you start planning as early as possible. Here we prepared a checklist for holiday season sale to share with you.
Predict the sales and choose promotional products
It is good to check your business performance regularly and set a goal for the season. From historical data, you will have a good image of the best sellers and potentials as well as dead stocks.
There are many free online tools to help you predict and catch the trends of market such as Google Trends.
Make inventory procurement decisions earlier
As you have already figured out the products that you want to promote for holiday season sale, you need to make an inventory stock up plan as early as possible to avoid running out stock. Here we have 5 tips.
try to avoid last minute order
Because every seller wants to boost their sales during this month, they will restock plenty of products in November or even earlier. Subsequently suppliers will be operating above capacity (meaning longer production lead time) and the products you need might run out of stock. If you order your products in last minute, it is too risky. To avoid issue, please please please plan ahead.
plan your purchase in 2-3 phrases
We don't want over-demanding inventory which occupies funds as well as insufficient inventory for sale. We suggest making a controllable progress to restock.
Firstly, before the holiday season starts, purchase 1/3 to 1/2 of the forecast sale quantity. As you have enough time for the supplier and logistics, you may get a reasonable cost.
Secondly, during the sale season, when the remained inventory goes lower than a safe level, e.g. 50% or could not support sale of the lead time of your supplier to restock. Actually we strongly suggest you don't let your inventory consumed so tightly to your restock plan. Make decision to purchase the 2nd batch at this situation. The restock volume depends on the stepping further forecast, maybe another 1/2 inventory for the whole season, maybe less or more if the sale looks positive than your expectation.
Lastly, make small but rush purchases if some products are nearly sold out.
Make contingency plan
we cannot always make an exact estimation of sale, we may still need an urgent restock if inventory consumes faster than we planed. To not make your customers left away for your competitors because you don't have inventory for them, keep the chance of fast restock, even though the cost may be very high. Make sure your suppliers have rush production capability or sufficient inventory for you, and take the expedited shipment.
Keep aware of the turn around time of your suppliers
Suppliers may keep their own inventory but it not be fully relied on as they may have many customers to take care.
For specific products, the supplier may need to make-to-order, so know the lead time of your suppliers. Especially in the holiday seasons, the supply-chain may take longer time for production.
Communicate periodically with your suppliers for their timely supplying capability would help for decision.
Normally there are two types of shipping options if you source from overseas. normal airmail or expedited.
Please do consider different shipping options to minimize your cost. Cheaper but takes long time? or expensive but fast and reliable?
Breakdown your sourcing plan to concrete materials
If you are a jewellery seller, you may need to think about all the materials used in your design.
chains or string
findings as jump rings, clasps, connectors
logo tags or beads for branding
jewelry displays for photography or street market, bazaar
As we mentioned before, online shopping is trendy this year. An eye catching photo of your products gives customers nice first impression and make them more likely to buy your products. So you might need to consider necklace, bracelet, earring displays. You can find these on our website! Most importantly. are on sale!! 40% off！
People buys for gifting in the holiday season. You may need tissue paper, wrapping material, gift cards to make your customers gift wrapping options.
E-commerce sellers may need special and qualified shipping boxes, poly mailers and thank you cards.
Findingbox has got ready for supporting your business boosts
So What we have done to make our customers happy for holiday season sale?
To lower the cost of restocking, we offer great deals for our customers. over 100+ products are on sale.
Stable production capacity. We have more technicians to ensure the production lead time will not take longer than usual.
Promoted express shipping. We offer free DHL when you spent over 200-300 US dollars.
Quick response time. We have day shift and night shift to answer your questions ASAP.