What are customers looking to buy this holiday season?

Inventory Management

Inventory management is important to the success of any merchant. A retailer that can't stock the hot items their customers are interested in will find themselves losing access to a lot of capital as merchandise sits on the show floor or boxed up in warehouses collecting dust. Poor product purchasing decisions can kill a merchant over the course of a year.

During the holiday season, inventory management becomes an even more pivotal ingredient to success due to the increased volume of sales.

During the holiday season, inventory management becomes an even more pivotal ingredient to success due to the increased volume of sales.

Not only will slow-moving stock clog retail channels, it can also lock up capital that could be used for purchasing new products, hindering retailers' ability to buy that season's big sellers. Merchants need to have a good idea of what their consumers are looking for to optimize their inventory for the holiday rush.

For the 2013 holiday season, a recent report from PriceGrabber indicates that clothing will be the biggest purchase among customers. Nearly two-thirds of customers (64 percent) said they would be purchasing apparel for their family members and friends as gifts. Following closely behind were gift cards (47 percent), books, DVDs and games (37 percent), toys (35 percent), shoes (34 percent) and hobby-related items (30 percent).

If merchants sell some of these products among others, it's crucial they focus on keeping these items stock as customers plan to purchase them the most. Using the right online inventory management system can also help retailers keep track of inventory levels for online and physical stores to ensure they don't run out of stock in any of their sales channels.

2 Responses to “What are customers looking to buy this holiday season?”

December 17, 2013 at 8:07 pm, Inflow said:

I couldn’t agree more. You want to avoid any kind of stockouts during the holidays, otherwise you will be missing out on lots of potential sales, and even worse, they may go to your competitors instead!

Reply

December 17, 2013 at 8:07 pm, Inflow said:

I couldn’t agree more. You want to avoid any kind of stockouts during the holidays, otherwise you will be missing out on lots of potential sales, and even worse, they may go to your competitors instead!

Reply

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