You have your Retail Holiday Plan. Now you need to make the plan reality by starting the implementation phase.
This is the part of the planning where you need to contact vendors for product. One, to determine if they are taking Holiday orders yet or determine when you can begin to order. Are you trying to sell a new product? Do you have to find and work with a new vendor? You are going to want to get all the details squared away BEFORE the Holiday Season starts.
Find out what seasonal products your vendors will be selling. It is possible they have already contacted you with this detail. Are they offering anything new you want to sell? How does the selling price point work with your seasonal goals? Run a pricing for profitability sample. How many items do you need to sell at full-price? Can you sell at a discounted price and still make money? You may have one or two items you are willing to take a chance on; but, remember to balance your lines with products which are safe bets for your store too.
The next step is make a note on how early you can order your product for the season. I make a spreadsheet with columns for: vendor, contact information, items to order, items ordered date, who placed the order, Dollar amount, payment method
On your calendar, mark when orders can be made if you need to wait.
This week work on creating your spreadsheet, ordering items, if possible, or marking the calendar with when you can order.
Next week is all about Marketing! I have some fun tips plus a contact for you to look up.
In the meantime, if you want assistance with your Retail Holiday Prep you can schedule your Retail Success Strategy Session to find out how I can help you. Go to: AMGInnovativeConsultants.com to schedule your free session.
You can also find me on these social media channels: Facebook @AMG Innovative Consultants, Inc; Instagram @ AMG.Consultants; LinkedIn @Amy Graves and AMG Innovative Consultants, Inc; and YouTube @ AMG Innovative ConsultantI, Inc