The season is not nearly upon us. Nevertheless, you and your suppliers are probably already beginning to wonder how much this year’s holiday shoppers will be carting away in goods. This is true no matter what your e-commerce is providing, from trees and trinkets to furniture and fine arts, everything is sold in greater amounts.
Last year’s score was the challenge and small businesses everywhere are bent on selling over $4.3 trillion in total retail value this year. So how can DataQlick help you make an accurate projection that will keep you properly stocked with no excess?
Here’s how:
- Essential Data
The season is a time of giving, so begin by giving yourself a healthy refresher course in what went down last year as well as in any recent trends that change the picture. Using an automated inventory management software that has been fully integrated with your accounting system, you will have all that information right at your fingertips, in addition to a commanding view of all current stock, location and conditions.
According to statistics on ComScore, there has been a significant increase in ecommerce this year, with half of all online shopping being done through ecommerce. Be sure you have projected an accurate figure based on last year’s figures and accounting the expected growth for your niche.
- Keep Your Supply Lines Fluid
Expect an unusually high workload; with all the extra packing and tracking, managing your e-commerce can be a difficult task. If you haven’t already, this would be a great time to consult your mobile inventory management app for all the timely information that will save you from missing the mark this holiday season. Proper supporting software can keep all your e-commerce functions operating smoothly. So you can focus on managing your growing business.
- Stay Well Supplied
The online consumer is a fickle sort, it is important to remember that most interested customers will be so discouraged by being met with an “Out of Stock” notice, that they will take their business elsewhere, possibly for good. While the holiday season can potentially be a time for great progress, things can get bad for e-commerce managers, if they haven’t managed their inventory well.
In all this don’t forget that your execution this year will set the benchmarks for next year’s holiday season. So take the time to develop a plan of execution that will allow you to pack and ship many products timely and economically. You are sure to find that working from the data and support of your automated inventory management system will allow you to focus on your marketing strategies, rather than fretting over your inventory.
