Christmas is traditionally a very busy time for both wholesalers and resellers. Consumers demand more products at this time of year and generally, consumers don’t mind spending money as festive retail figures show! Consumers across the country have spent over £2 billion on Christmas in the past, and this year figures look set to be just as high. So with many consumers looking for items this winter check out these three tips to ensure your wholesale business is ready!
Plan Products
One of the ways you are going to sell large amounts of stock is by knowing what consumers are demanding. Every year there is a different gadget on the high street – whether it’s a tablet computer or a mobile phone. Do your research by visiting retailers and finding out what is selling fast. There is also a big blockbuster movie released every Christmas and this year The Hobbit is raking it in at the box office. Film memorabilia is a popular purchase during Christmas so ensure you know what movies are popular and buy products accordingly. There are so many different items to look out for at Christmas, but you can’t stock them all! The best way to prepare is by researching what products can be sold quickly. You can do this by visiting retailers, looking at your customers’ buying habits and by looking online at sites like eBay. Plan your products well in advance if you want to boost sales this yuletide.
Slash Prices
All high street retailers do it, in fact, it’s not even Christmas yet and the sales have already hit the high street! Most retailers are offering 10% or above off items during the week to Christmas and it’s in a bid to entice customers into stores. With so many people budgeting this Christmas many consumers will be looking for the best bargains. To attract customers to your products you should consider slashing prices too – as once you have the customer interested, you may find they repeat purchase.
Network
Networking is a great way of both securing good products at competitive prices and meeting key industry contacts. By networking you should be able to find wholesale suppliers offering the best deals and therefore increase your profit margins this Christmas. Ensure you look out for local networking events and get involved throughout the festive break.
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