Christmas is approaching and it is a very lucrative time of year for wholesale buyers. Follow these wholesale tips to help you get your business ready for the festive period.
Research
To maximise your sales this Christmas you should research your competitors to find out what products they are selling, what deals they have on and what prices they are offering. Spend time browsing websites and wholesale directories to decipher what is selling well this season and what your competitors are selling. You should also consider attending networking events to meet industry contacts as this could help your research.
Product Selection
Product selection is crucial all year round but especially at Christmas. You need to ensure you aren’t buying bulk stock that you can’t move on! Your research should help you to find out popular items but you should also visit online retailers and high street stores to see what is being stocked. Looking out for industry news and trends will also help with your product selection.
Wholesale Suppliers
You need to source wholesale suppliers early to ensure you receive stock on time. You also need to network and rapport build with suppliers in order to receive the best wholesale prices.
Website
If you run an e-Commerce business you need to update your website with product pictures and descriptions in order to entice customers. Look at what your competitors are doing too – are they offering any special festive offers? If so, perhaps you should consider it too.
