Deliver More Product and Make More Money
Holiday shopping season is fast approaching. Getting quality goods on store shelves is a mission. What used to be a concentrated period of heightened sales beginning with Black Friday has turned into a months-long shopping marathon. Customers are buying earlier and consuming more than they have in the past which is why having enough inventory on-hand is vital to confronting one of the main challenges that plague the retail industry: out of stock gaps where products should be but aren’t. If careful planning with inventory suppliers is not undertaken, retailers are left empty handed and their customers headed for the aisles of their competitors.
As holiday season approaches, most retailers are thinking about ways to acquire enough inventory to take their products to market early on, taking advantage of consumption habits and minimizing the risk of a supply chain interruption where customers have come to expect delivery not just on time but ahead of time.
Not having enough inventory can be a stressful time for sellers and shoppers alike. Your product demand has increased but you need the cash to stock your warehouse. Or, your major retailer deal is coming through and now you need to produce an amount of product outside your purchasing capabilities to supply that need.
The following tips can help you build a supply chain that will thrive this holiday season and offer a metric by which you can test the functionality of your existing strategies.
Leverage Alternative Funding
Your product is in demand and you don’t want or can’t touch your existing lines of credit. Holding on to your cashflow is important. Curve Commercial partners with companies like yours in the production of products by funding raw materials, component parts, and finished goods. It’s TradeTermz program is a unique alternative that accommodates the demand for your product with open account terms purchasing your inventory when you need it, as often as you need it, in the quantities you need without the need for purchase orders or invoices. Once inventory is purchased, Curve provides flexible and extended repayment options.
Rotate in New Merchandise
Having the same items in your store week after week bores the average customer. Bring in new inventory on a regular basis. Customers are shopping for the best gadgets, keeping up with exciting trends and looking for better deals. Your inventory should keep them engaged. The more you turnover inventory, the more sales you’ll make.
Negotiate with Your Vendors and Gain More Product
Once you use an alternate funding solution like TradeTermz, you are worth your weight in gold to vendors. They get paid upfront, within 5-7 days of an order, allowing you the opportunity to use your negotiation power to obtain the best deals possible.
In applying these tips, keep in mind that you can have all the product in the world but it’s not going to help you if it’s sitting in your warehouse. Research reliable and efficient means of distribution with which you can work so your products don’t get sullied with the frustration caused by an off-schedule delivery. Moreover, being able to provide high-speed, customized, or specialized delivery is a great “benefit” you can leverage to gain favor with your consumers.