Monday, October 8, 2012

Monday Challenge

Holiday Boot Camp Week 2
Stocking Up for the Holidays

 Christmas Stocking

Following Etsy's direction, this week's goals are to:
  • Brainstorm ways you can make the most of the holidays! How are you optimizing your shop this season? By tweaking your descriptions and tags, or developing a new product just for the holidays?
The Guide suggests that we revamp our current listings to appeal to holiday shoppers. We should point out the type of gift, the price point, and the recipient, keeping in mind important dates and current trends. Those developing new products for the holidays should follow the same advice.

For many of us, the question is "how much product should I have stocked for the holidays?" We want to have enough to meet demand, but we don't want to end the year with excess holiday inventory. The best way to "stock up" is to build your inventory around your best sellers. If these items have been best sellers throughout the year, they are likely to be best sellers during the holidays! So, while there is no pat answer to the question of "how much inventory," make more than you think you can sell and then you are covered. And, if you are left with an inventory of best sellers, the inventory will sell throughout the next year.

If you are developing new products for the holidays, limit your inventory of these new items. You don't want to tie up your time and money in products that may not sell! And if they do prove to be best-sellers, you and your elves can ramp up production during the selling season.

Now would also be a good time to decide if you will offer gift wrapping. If so, stock up on gift wrapping supplies, and on packaging and shipping supplies. These are part of your "inventory" too!

So if you haven't started yet, NOW is the time to build your inventory!

Let's discuss.

 Cap'n Kathi

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