Got Game? Get Going!
GDA Staff -- Gifts and Dec, 11/1/2011 2:00:00 AM
RETAILERS SPEND MOST OF THE YEAR TALKING ABOUT, PLANNING FOR AND RECOVERING FROM THE FOURTH QUARTER. It is like the Super Bowl, except it lasts for weeks instead of hours, doesn't pay as well, there are no tailgate parties and very little beer. You also don't get a ring if you win... just another crack at it next year.
Our team is getting ready for the big event and re-running some of our better (and some not-so-good) plays from previous seasons. November is a perfect time to sit down with your key employees and talk about plans for the biggest selling season.
Mary Liz Curtin gets the Leon & Lulu team involved and motivated. Getting their game plan worked out in advance helps make the holiday selling season go more smoothly.
Holiday Merchandise
While you probably ordered your seasonal product long ago, review the orders once again to be sure they are sufficient. If your Halloween sales were strong, re-project your Christmas sales and check your orders. Many stores were caught short last year.
Don't forget the sale!
After-Christmas sales should be moneymakers for you. Look for holiday items with great margins to feed the sale and be sure you have a plan to have your markdowns ready to go when you open on the 26th. This is also the time to reduce prices on EVERYTHING THAT MUST GO. Clean house!
Sale shoppers are ready to buy and smart merchants clear their shelves at the end of the year. Don't be afraid of a few big markdowns - those painfully low prices act as advertising and a draw for the rest of what's on sale, and getting rid of the losers, even at a big loss, is worth the pain.
Stock up on basics
Your best selling gift items are the things that will sell the fastest. Since so much of the business happens in the last two weeks, it is easy to run out of key items. Build your inventory of those SKUs early. Many vendors ran out last year and could not fill last minute reorders. I would far prefer to be a little overstocked on key items in January than out of them in December.
Staffing
Do you have adequate help? Are they trained and ready to go? Start planning your holiday schedule now so you know how many people you need and when you need them.
Supplies
One year we ran out of the imprinted small totes we use for gift wrap and had to use plain ones. No logo on holiday wrap? A marketing disaster.
Several times we have had to make an emergency run for a basic staple like tape, tissue or toilet paper. Now I check my invoices from last year and place orders for supplies just as we do for inventory so we are well stocked on all supplies during the big rush. Number one item to buy in bulk? Register tape.
Review the tapes
Hold a meeting with your key staff members and talk about last year's holiday season. What worked? What failed? What ideas do they have for this year?
One of our surprise success stories last year was having a boy demonstrate toys on Saturdays. He spun tops, shot flying monkeys and wore dancing hats... and sold lots of holiday product. We will have him back every Saturday from mid-November through Christmas.
A little advance planning with the team will pay off when the play gets rough...
Start planning your retail plays soon to make your team winners this season. Pre-season preparation will mean a bigger post-season pay off.
And then you can start all over again in January.
We would love your feedback!
Featured Company
-
Brandwise Inc.
Brandwise serves a model - not just an industry - by integrating, automating, and optimizing the entire sales channel, from wholesale Suppliers to their Reps and the Retailers they service. In short, our software helps Reps and Suppliers sell more and create... more
VIEW ALL GALLERIES
