August 2018 Blog 4 Part Series – Marketing & Merchandising for the Holidays
For the month of August, each week we will present a topic in a four-part series Marketing & Merchandising for the Holidays
Part I – Holiday Merchandise
Part II – Marketing Plan for the Holiday
Part III – Merchandising – Store Display
Part IV – Promoting your store
Part One – Holiday Merchandise
Besides containers and gift ware there are trimming items that need to be procured and in stock. I am talking about silver and gold decorative items from balls, berries, picks, balloons, ribbon any other accessory that goes into a Christmas arrangement. To take it to the next level, some shops will bring in special holiday chocolates and gourmet gift baskets. Candles and other decorative items can help to decorate the shop and customer’s homes.
Now is the time to place orders for all of your holiday products. This ensures that the items arrive in your shop this month. As the products arrive, remove them from the packaging and report any breakage and shortage to your supplier. By reporting it early, the supplier may be able to replace the damaged items and correct the shortage rather than issuing a credit. Although getting a credit is ok, you will still need to replace those items. These items may not be available or might not be offered at the same pricing you received originally.
Next, price all the items that you are putting on the sales floor. You have the invoice from the supplier so price it now. Peelable price tags come in handy and give a more professional look.
Lastly, make an inventory of your holiday merchandise. Include your cost, your retail price, quantity ordered, source and category.
An example of this would be:
Product Vendor Qty Cost Retail $ Category
Snow Globe Napco 24 $10.00 $25.00 Xmas Gift ware
This list will help you recap the amount of holiday merchandise you purchased in dollar amount, as well as, quantity. Another important aspect this list tracks is where you purchased the item. At the end of the holiday, update the list with how many items you sold or still have in your inventory.
Next week we’ll discuss developing a marketing plan to sell your holiday merchandise.