Last-Minute Considerations for the Seasonal Rush
The holiday season is upon us, and with that comes a last-minute rush of shoppers. For businesses, that means there is still a valuable opportunity in the final weeks before Christmas. However, this busy time also comes with unique challenges, especially when ensuring products are available on store shelves. In this blog, we’ll look at a case study of a toy company in Canada and learn how last-minute strategies can optimize stock availability and boost sales during the holiday season.
The Toy Company Case Study
In December 2021, a Canadian toy company faced a sudden spike in demand for its products at major retailers across the country. While their toys were super popular and flying off the shelves, a surprising 30% of the time, they were out of stock. This happened because the toys were in the store’s backroom, but the store staff hadn’t put them out for customers to purchase, resulting in missed sales opportunities.
To tackle this issue, the company got help from merchandising experts who made three visits to the retailers to ensure products were available. They spent $21,000.00 on these visits, but it resulted in $108,000.00 worth of sold toys—a big success! This shows the importance of having additional support and a solid strategy to guarantee that products are consistently accessible to customers.
The Impact of Stockouts
Stockouts have a big impact on retailers and brands. Globally, they lead to almost $1 trillion in lost sales. And it’s not just about lost money—stockouts also make customers frustrated and can hurt a brand’s reputation. When customers can’t find what they want, they might opt for a competitor’s offering and may never come back.
For Last-Minute Strategies
From Thanksgiving to the New Year, the shopping months attract shoppers from all walks of life. This can be highly beneficial for your business, but only if you’re prepared to meet the rising customer expectations. Along the way, you can use last year’s challenges to position yourself up for success.
Getting Ready for the 2023 Holiday Season
As the 2023 holiday season approaches, brands must stay on top of scheduling. A survey found that more than three-quarters of shoppers expect stockouts during the holidays, affecting their confidence in product availability. To bridge this gap and ensure the products are available, brands can team up with a reliable merchandising company to handle stockouts and optimize product placements.
Marketsupport—A Reliable Merchandising Company
Working with a merchandising expert like Marketsupport can help ensure products are placed strategically on store shelves, increasing visibility and sales during the bustling holiday season. Our team provides support where you need it most, giving you full control of your brand.
Contact us to learn more about our offerings and how we can help you succeed during the holiday season.
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