Even though your customers probably haven’t finalized their Halloween costumes, your store should be stocked and ready handle the holiday rush. The 2021 season is upon us and whether your physical store is open to the public, or you’re 100% online, you need to make the most of this critical time for your business and ensure you can fulfill your customers’ wants and needs. And while 2020 was anything but business as usual, it looks like 2021 will also be a bit out of the ordinary with the Delta variant, high inflation, low inventory, and supply chain and logistical uncertainties.

You already know how important the holidays are for sales, and while everyone is really eager to get out of the house and return to their own family traditions, the pandemic has permanently changed the way customers discover, shop, and purchase items. That means your business needs to find new ways to capture pent-up demand, adapt to changing times, and find new ways to serve your customers and make them happy.

BLACK FRIDAY SALES ARRIVE EARLY

Whether consumers are shopping for themselves, loved ones, or their pets, gift-giving makes everyone feel better, and since we’ve all been searching for a silver lining, retail therapy is a surefire way to cure what ails us. And with more idle time spent at home, and online, the official holiday season will kick-off before you can say Trick or Treat. In fact, consumers are no longer waiting for Black Friday and Cyber Monday deals — they’re tracking prices and availability on most-wanted items and clicking the Checkout button as soon as they find the best price. Which brings up a critical point, the majority of consumers will check items off their holiday wish-list online and that means they’ll be less forgiving if you’re out of stock of a particular item.

According to many retail analysts including Alix Partners, holiday sales are forecasted to increase by up to 15% compared to last year, most consumers say they plan to spend more on gifts, and almost 50% have already begun their holiday shopping. Right now, we’re facing a time when supply chain problems are slowing down shipments, labor challenges are a problem, inventory is low, prices are high, and demand is exceeding supply.

What’s more, customers are abandoning brand loyalty to find the best deals, trying to avoid shipping fees by ordering online and picking up in-store, and using social media to shop and discover products and services. In short, e-commerce is king and if you’re not stocked up and ready to sell, you might be in trouble come November.

So, what are you waiting for?

HOW TO SUCCESSFULLY TACKLE THE EARLY HOLIDAY RUSH

You need a plan to tackle the holiday rush and we’re here to help. From the risk of low-inventory, to slow shipments, labor shortages, and rising prices on pre-owned designer handbags and accessories, you need to set up your shop for success.

FIND OUT WHAT YOUR CUSTOMERS WANT: Are they interested in Birkins? The Chanel Classic Flap? A Louis Vuitton Speedy? You need to leverage your internal data and external inputs to find out what they really, really want. And then share this information with all the members of your team to ensure you can fulfill accordingly and make changes as needed.

ALWAYS MONITOR INVENTORY: Keep on top of inventory and optimize levels among stores and distribution centers based on real-time data. Ensure that inventory has met expected demand and that it is in place by the time customers want to shop. Create early sales and promotions to encourage their shopping behavior and get them to shop early!

INCREASE PAYMENT OPTIONS: Shoppers want a seamless checkout process and that includes a single checkout page, a guest checkout option, mobile-friendly checkout, PayPal integration, and the option of Buy Now, Pay Later (BNPL) as a way to seal the deal. Otherwise, you’re left with abandoned carts and lots of questions.

EMBRACE SOCIAL MEDIA COMMERCE: Believe it or not, social media commerce WORKS! From targeted ads on Instagram, to influencers pitching products on Facebook Live, and the shop option, consumers are paying attention and shopping directly from your social media pages.

LEVERAGE OMNICHANNEL FULFILLMENT: If you have a physical store, encourage customers to either shop in person, or order online and pick-up at the store to reduce shipping costs, increase speed, ensure timely delivery — and so they can check out what you’ve got in store, in person. But make sure your stores are set up for this increase in omnichannel fulfillment with increased inventory levels, set up backrooms for quick fulfillment, and train your associates accordingly.

SALE AWAY: Offer discounts, giveaways, and exclusive offers for current and potential customers. After all, everyone loves a sale!

STOCK UP WITH LEPRIX WHOLESALE*

We’re here to help you source the best margins and best pre-owned products for your shop.

On our wholesale platform, every item comes with a description, condition, and letter grade for top brands. By leveraging deep data analytics and AI, our platform also shows you a suggested minimum resale price and estimated profit margin for top pre-owned brands like Chanel, Hermès and Dior. Every item is LePrix vetted and inspected so you and your customers can rest assured knowing that each purchase is authentic.

If you’re a business, you may qualify for exclusive access to authentic, pre-owned designer bags and accessories at wholesale prices. Find out more here.

*LePrix is not affiliated with any brands in any manner. All items are LePrix Vetted and Approved: LePrix’s team of specialists inspect every item before it’s listed and sold on LePrix Wholesale.