Good stock management is important all year round but now as we arrive about a week into December, at the annual peak selling period, it deserves special consideration.
From your year-round bestsellers to your short-term seasonal selects, you’ve no doubt got a lot of stock on your hands – so, in episode 123 of The Resilient Retail Game Plan, I want to share my thoughts on stock processes specific to the Xmas period to help keep you and your business nimble and cash-rich in these uncertain times.
In this podcast, we’ll cover those pesky ‘brown bananas’ and review how to best handle products with both seasonal and literal expiry dates. We’ll take a look at stock levels on the whole and the relationship between what you’ve got left and what you expect to sell before 2023. We’ll also discuss classifying your stock and whether it’s destined to be defined as ‘carry-forward’ or ‘clearance’. I’ll also touch on putting a clearance plan together and the importance of your sales messaging, and we’ll finish up by taking a stock sense check for Spring 2023.
Don’t forget – use the code: 10podcast to get £10 off your first month when joining The Resilient Retail Club.