Holiday shopping starts earlier and earlier each year. So that’s why, over the coming weeks, we will be discussing tips to prepare your store and get the most out of selling on eBay during Peak Trade season.
We are starting off the Optiseller Peak Trade Series with an important aspect of selling: inventory. Black Friday and Cyber Monday are just around the corner, taking place 25-28 November 2022 in countries around the world. So now is the time to start preparing your store and inventory, as undoubtedly, these things play a big role in your success over Peak Trade period.
Products
When it comes to inventory, you want to first determine what products you want to showcase and push during peak season. Look at what’s trending in e-commerce and what’s going to be the biggest buys and most in demand products during the festive season. Check your own sales data to see which categories and products are most popular among your buyers so that you can stock up on the must haves that you know will sell the most.
Pricing
Once you’ve made your decision on what products you’ll be pushing this peak trade season, start thinking about your pricing strategy and how you can stay competitive in a market saturated with similar products. Check in on how much your competitors are selling similar items for, so you can find that sweet selling spot that buyers will gravitate to.
Stock Planning
Start creating an accurate stock plan. Look back at your sales data from previous peak seasons to get an idea of how much stock you will require. Then, get in touch with your suppliers so they know exactly what you need from them and when. You don’t want to be caught out with not enough stock and high demand – this could result in unhappy buyers, negative feedback and decreased traffic.
Additionally, look into your warehouse efficiency. Make sure your warehouse operations are as optimised as they can be, and that you strategise your product placement. Look at where, geographically, your products are selling and ensure you are stocked sufficiently in your closest locations. Within the warehouse, organise most popular stock in the most convenient place, ensuring they’re ready to be packed and shipped as quickly as possible.
There’s a lot to think about when it comes to preparing your inventory for peak season trade. Don’t wait until the last minute to start planning. Take the time to do market research on what products are in demand this season, create an accurate stock plan to ensure your warehouses are prepared and start thinking about price points and how to stay competitive in the market. Check back over the coming weeks as we discuss other ways to prepare for peak trade season, including SEO, shipping, offers and more.
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