The holidays are coming up and are you ready to make this holiday season count this year? I want you to be super profitable and go into the holidays with a plan so that you end the year in the black with a super successful season.
But the key to being successful for the holidays is you have to have a plan. Now. This is the best time to spend some time planning your holiday strategy. So let's get into it for the best package food advice for the season.
When I worked for Whole Foods Market, I was making holiday decisions in July and August. Don't make the mistake of scrambling at the last minute to try to put together your holiday plans. You will have already missed them. Amazing opportunities are there, but you'll miss a lot of them if you wait 'til the last minute.
So whether you are selling at markets and holiday shows or you're on the shelves of grocery stores or gift stores, I'm going to help you over three blog posts to really put together a strategy and be sure that you are setting yourself up for success, for this holiday season.
This third blog is all about planning for those amazing holiday sales. It's great to increase your presence with wholesale buyers, to get your holiday markets on the books, to plan out all your promotions but you also need to plan for having great sales. We're going to walk through the rest of the planning checklist for the holidays so nothing is missed.
Being proactive is key for the holidays. The first thing you want to think about is your production. Because you're increasing your sales, hopefully you're going to be in markets and you'll have a bigger presence on store shelves, you'll want to plan for how you're going to make all of your product. It may be that you need to reserve more kitchen time, that you need to bring in help or you need to start communicating with your co-packer. I've found the best way to do this is to work backwards from all the things you've planned and have on the calendar. Once you have a good estimate of what you need, you can communicate your needs and make a plan for ensuring you have plenty for the holiday season.
This brings us to the second thing. You need to be strategic about your ordering. The way you'll maximize your profit is by creating efficiency. Since you're making things in larger quantities, can you order ingredients or packaging in larger quantities, thus getting a larger price break? And when you order more, do you have the storage space? Is there a difference in shipping time? These are things that you'll need to account for when ordering.
The next thing is managing and planning ahead for your cash flow. Think about what you'll need for the holiday season and where you're going to get that money from. If you don't have the money in the bank are you going to get a line of credit? You'll have to order a lot prior to actually making sales through the holiday. It's crucial to manage your cashflow to ensure that you can keep everything running smoothly.
The next thing to plan ahead for is customer engagement. This is important whether you are doing e-commerce or you're just on store shelves. Do you have a fan base through social media and emails? Through this base you want to make sure that 80% of the content you're putting out is valuable to the customer. And the remaining 20% is promoting the product. But plan ahead now to get great photos that are seasonal and really sell your product in a timely way.
As you work with your social media holiday plan, you really want to make sure you're hitting target audiences with all the right hashtags. Use every hashtag you're allotted to reach a wider audience. A great way to stay ahead of this is to create an editorial or content calendar. This is a calendar that you can plan everything out in - major holidays, more niche holidays that relate more specifically to your product, etc. This calendar will be a lifesaver as you prepare for the holidays and smaller holidays.
Those are some of my tips on your wholesale holiday strategy. Be sure to check out my other blogs about holiday strategy planning. And check out the full checklist for holidays.