Online retailers know that even if the calendar says September, businesses must be thinking December. This holiday season is set to have the biggest increase since 2011, with the online retail industry set to top $334 billion by the end of the year.
If all goes according to your plan, thousands of customers will be looking for your products online and buying them in huge numbers. Will you be able to keep up the demand to claim your piece of that huge pie?
Just like a clever shopper, a great online retailer is prepared long before the holiday season reaches. Here are three ways RestockPro can help keep your stockings full to the brim so that you don’t miss out this holiday season.
1. Tag Holiday Products
RestockPro lets you tag individual products anyway you’d like. Want to see all your kitchen items at a glance? Need to check up on all of your multi-pack products? Power users tag these items to help them get a quick overall view of how they are doing.
Tags also work very well for fast-moving holiday items. If you manage thousands of products, it’s nice to be able to quickly find the ones that are season-sensitive so that you can check on them all at once, even if they are across different departments. Simply tag the items that usually sell at higher velocities during the holidays, and then filter by the “holiday” tag.
2. Use Historical Data to Predict What Will Sell
Restocking is always a mix of logic and instinct, and RestockPro is there to give you the hard analytical data you need about your business. If you’ve been using RestockPro over the past year, run a quick Sales Analysis Report for the holiday months.
Use this report to adjust your upcoming forecasts. You will feel much better keeping higher inventory levels of certain items if you know there is strong data to back it up.
3. Revisit Your Restock Preferences
You likely have a sweet spot for how many days worth of inventory you like to keep on hand. Not too many to attract increasing Amazon long-term storage fees; not too few to risk running out. But during the holiday season, things can get a little wacky. You may need to increase the number of days of inventory you keep on stock to keep up with demand or the fact that your suppliers might run out of popular items. Simply go into your settings, increase the number of days, and let RestockPro do the heavy lifting from there. Your extra days of inventory will give you a much better margin to work with once the craziness sets in.
Don’t want to change your restocking preferences for all of your items? No problem. You can fine tune your settings by only adjusting them for certain suppliers that sell your hot holiday items.
As much as you despise the person who is finished shopping in October, we all recognize the importance of good planning. As an eCommerce merchant, you will do yourself a huge favor by preparing well for the upcoming season and giving yourself the best chance to take your fair share of what’s on its way. Happy stocking!
Originally published on September 15, 2015, updated January 6, 2020
This post is accurate as of the date of publication. Some features and information may have changed due to product updates or Amazon policy changes.
We Are Virtual! But you can still send us mail: 9702 Gayton Road, Suite 230 Richmond, VA 23238 Call us: 800-757-6840