With Halloween, Thanksgiving and Christmas occurring in rapid succession, savvy retailers must take steps now to prepare for an onslaught of business and have the agility to shift directions quickly and seamlessly as one holiday morphs into the next. Below are some obvious but nonetheless critical steps that should be addressed immediately.
Make a Plan
Do you know which item(s) are expected to be in high demand? Experience and past reports will help indicate which products are traditionally in high demand. But be warned that even the most tried-and-true products have a lifecycle and their popularity will eventually wane. What’s the next big thing - this year’s hot new item? What level of demand is marketing projecting? If you haven’t already done so, it’s time to get this information and stock up.