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Posts Tagged ‘holiday sales’

2013 Last Minute Holiday Preparations

October 18, 2013 Leave a comment

Despite the just ended government shut down, my online sales have been going well.  It looks like it’s going to be a strong Christmas season!

Here are some last minute things you should take care of now, in case you’ve fallen behind:

First, make sure you have up to date information on total cost associated with every sku you sell.  You need to know what your margins will be at any given sales price, so you can set your prices correctly based on competition.

Second, if you sell on an online marketplace like Amazon or eBay, spend some time checking out your competitions’ pricing strategy.  Remember, people can set prices differently based on day of the week and time of day, so start sampling your competitions’ prices throughout the day for several days in a row, and keep it in a spreadsheet.

Third, decide what your sales strategy will be for each of your products.  E.g., if you don’t have a lot of inventory on a strong selling product, you may want to raise your prices now and let other retailers sell out their inventory, so you can sell at a higher margin later in the season.

My next post will be right around Halloween, and traditionally my sales slow down in the days leading up to Halloween.  So there should be some extra free time in the next couple of weeks to spend on looking for more products to sell.

Good luck, and let me know how your holiday sales are going!

 

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2013 Holiday Selling

October 4, 2013 Leave a comment

Now that it’s October my online sales have taken a noticeable bump up.  I hope you’re seeing a similar increase.

I’ve finished stocking up for the holiday sales season, and I use 3rd party fulfillment services for all of my fulfillment, so this is actually a slower time of year for me.  But it’s also the time I start getting ready for post-holiday sales.

Specifically, one of the dangers of selling online is that you run out of your best selling items during the holidays, and miss opportunities to sell in January and February.  So I’m starting to place orders for merchandise that will be available primarily after Christmas.  It may be here in time to catch the tail end of Christmas shopping, but for the most part this merchandise will capture opportunities afterwards.

One advantage to having plenty of inventory in January and February is that competition is generally at its lowest then, as many retailers are completely out of some stock.  This means your margins can be higher, though it only takes one cut rate retailer to destroy everyone’s margins on a marketplace like Amazon.

Let me know how your sales are going.  If they haven’t increased meaningfully from a month ago, you should check your prices against your competition to see what’s going on.