This episode stresses the critical importance of early and thorough holiday planning for ecommerce businesses to avoid stockouts and lost sales. It outlines specific timelines for inventory orders and promotional strategies, emphasizing that proactive preparation can significantly impact holiday season success and even mitigate risks associated with events like Chinese New Year.
Key takeaways
Start holiday planning months in advance, specifically ordering standard inventory by July and new products by May, to ensure timely arrival and avoid supply chain delays.
Overestimate inventory needs rather than underestimate; having excess stock is preferable to missing out on sales due to stockouts during peak holiday demand.
Begin holiday promotions as early as October to capture early shoppers and maximize sales windows, rather than waiting until closer to the holidays.
Factor in global events like Chinese New Year when planning inventory, as these can cause significant shipping delays if not anticipated.
Develop a detailed process for holiday readiness, encompassing everything from inventory management to promotional campaigns, to ensure a smooth and profitable season.
On today's episode, I discuss why you need to start planning for the holidays. It is easy to fall into the trap of assuming you have enough, and then underestimating your demand. A lack of inventory means a loss of sales. Don't let it happen! Here's what I cover today: Our Ecom Crew courses. The ideal time frame to order standard inventory. The ideal time frame to order a new product. The process you need to go through to get ready for the holidays. Color It's upcoming 12 Days of Christmas promotion. Color It's upcoming 8 Days of Hanukkah promotion. Why we start our holiday promoting in October. Why overestimating your inventory needs is a good thing. Why you should be prepared for Chinese New Year. We will be launching some Ecom Crew courses in August. If you are interested check out the link at www.ecomcrew.com/course. We will be doing these courses with Dave Bryant, so sign up at the link and we'll send you more information later. This episode is sponsored by Stamped.io. We have recently switched to Stamped
What does this episode say about supply chain & operations?
Start holiday planning months in advance, specifically ordering standard inventory by July and new products by May, to ensure timely arrival and avoid supply chain delays.
What does this episode say about product & merchandising?
Overestimate inventory needs rather than underestimate; having excess stock is preferable to missing out on sales due to stockouts during peak holiday demand.
What does this episode say about supply chain & operations?
Begin holiday promotions as early as October to capture early shoppers and maximize sales windows, rather than waiting until closer to the holidays.
What does this episode say about supply chain & operations?
Factor in global events like Chinese New Year when planning inventory, as these can cause significant shipping delays if not anticipated.
What does this episode say about supply chain & operations?
Develop a detailed process for holiday readiness, encompassing everything from inventory management to promotional campaigns, to ensure a smooth and profitable season.
