Regardless of what you sell or where your store is located, as a retailer, you have probably noticed a seasonal effect on the type of products that you sell throughout the year. Depending on your target demographic, you might see a rise in sales just before the holiday season or a dip in sales in the middle of summer. Knowing what your customers want is half the battle. Figuring out how much of it to stock will help to ensure that you are prepared to make the sale. Whether you run a small gift shop or a large department store, seasonal and holiday gifts for retail are an important part of the equation. However, ensuring that you work with a reputable manufacturer of sterling silver objects that can get you all of the standard and custom silver items for retailers that you require is essential.
What is Seasonal Stock?
Inventory that rises or drops in popularity with the change of seasons falls into this category. You might sell a lot of flip flops in the summer at your beach location, but not a lot of warm sweaters and boots. There are definite seasons for things like sterling silver design and keepsake silver pieces, so it pays to gather all of the data that you can to help make an informed decision. Some products will have a consistent demand throughout the year, so it is smart to remember that not all products are seasonal. On the other hand, there are some items that are typically only sold a certain time of year, such as silver Santa Claus ornaments or swimwear and sunblock.
Some of the events to consider for the seasons include:
- Spring – Valentine’s Day, Mother’s Day, Graduations, Bridal Showers, Weddings
- Summer – Father’s Day, 4th of July, Baby Showers, Vacation or Tourist Shopping
- Fall – Back to School, Halloween, Thanksgiving, Pre-Holiday Shopping
- Winter – Christmas, Hannukah, Kwanzaa, Ramadan, New Years
While there are some occasions that could be celebrated throughout the year, such as bridal showers, weddings, vacation or tourist shopping, baby showers, and pre-holiday shopping, the above-mentioned seasons will be the most in-demand. Also consider sports seasons, such as football or baseball season, including the Super Bowl and World Series celebrations. Depending on your customer demographic, you might want to consider these events as holidays when you stock certain items for the season.
Issues With Supply and Demand
If you fail to stock seasonal items, such as holiday gifts for retail or season-specific sterling silver design objects, you won’t be able to make the sale. Unhappy customers, lost sales, and missed opportunities are just the beginning. If your regular customers are forced to look for custom silver items for retailers at other shops, you could lose them completely. The store that has the items in stock and is able to give the customers what they want has an excellent opportunity to win new repeat customers for the future. Make sure that you have what your customers want and that you anticipate possible trends in sterling silver design and prepare for them by having those items available.
It can be harder to predict the most popular holiday toy or summer sensation when it comes to gifts for children, but when you sell classic gift items that you source through a reputable manufacturer of sterling silver objects, it can be a bit easier to stay on top of the trends. The more data that you can collect on sales and customer interactions from previous years, the easier it will be to know what you need. If you still have boxes of leftover inventory from last Christmas that never really took off, you also know what to avoid. Work to find new ways to push your excessive or “dead” stock to ensure that you move it to make room for other items on the shelves. Promote big sales, heavy discounts, and other options that will bring customers to your store and help you unload those items that didn’t sell.
Use Inventory Management Software
One way to get a clear picture of sales is to utilize inventory management software to your benefit. While this is not a 100 percent foolproof method, it can help you to see the facts and numbers in a better light. Put all of your paper sales, reports, and accounting information into the software program. You can use spreadsheets and other visual tools to help you spot trends and see the changes as they occur in seasonal stock throughout the year. You still need to pay attention to consumer comments, demographics, and seasonal trends, but this will help to bring things into perspective.
Start shopping now to add stock of holiday gifts for retail to your store or shop. Our top quality sterling silver design for jewelry, classic gift items, traditional objects, and stunning custom silver items for retailers can really set your store apart from the competition. Make sure to ask about our white label opportunities that can be used to grow your brand and increase sales throughout the year. Call JT Inman Company at 508-226-0080 to speak with one of our representatives about any items that you would like to add to your store.