Staying in the Black on Black Friday Requires Careful Supply Chain Planning11 Sep
According to the International Council of Shopping Centers (ICSC), customer enthusiasm for Black Friday shopping is up 8% this year, and spending is expected to increase by 4% overall.
Black Friday is fast approaching, with its younger sibling, Cyber Monday, as the two highest retail sales days for many retailers.
There are many ways for retail businesses to prepare themselves for Black Friday, and it is extremely important that they do, and do it well, to have a profitable day on their hands.
How will you manage your stock levels during the holiday season?
The most important objective for a business to aim towards Black Friday is stock. With a large influx in demand all in one day, it is vital that businesses prepare stock quantities wisely to accommodate for more purchases.
This is where 3rd party logistic businesses like ours shine, providing our retail customers with a flexible method of preparing for the big day.
Many retail establishments choose to outsource part or even all their logistics departments to companies like ours to prepare for both warehousing and delivering of goods to your customers.
Having a 3rd party logistics solution to fall back on will make sure you won’t run out of stock 3 hours in. Black Friday only comes once a year and usually is the most profitable day for businesses; you don’t want to miss that opportunity because you had nothing left to sell.
Distribution and Haulage during the holiday season
Delivery is a huge problem on Black Friday due to the number of sales. This becomes even more problematic if you offer online sales or sell exclusively digitally; the logistics of handling deliveries will quickly get out of control.
Combined with naturally higher demands and enticing promotional offers, your business could quickly lose control of the logistics and fall behind on a massive queue.
With a 3rd party logistics solution, you will have at your disposable a scalable and indispensable asset that will contribute to your company’s growth.
These are just a couple of the important preparations your retail business can take in order to be fully prepared for Black Friday.
While it is only one day, it can often be a day that is talked about for variety of reasons afterwards. Your success or failure will depend on you getting your business and team fully prepared for what is about to happen. Setting a strong pattern for your holiday season of sales will be determined on just how well prepared you are on this day.
Black Friday might seem like a daunting event, but take comfort in that it is only a day; a day for your business to succeed.
If you need temporary multi-client or overflow warehousing to handle increased inventory for peak seasons talk to us.
Working with us will contribute to a great customer experience that will not go unnoticed at this busy time of year.