Therese Ørtenblad, our Wholesale contributing expert, is on hand to help you plan your fourth quarter, whether you’re a seasoned wholesaler or have added this to your 2019 business strategy, this article gives you the insights and actions to take, October-December.
We’re about to hit the busiest time of the year. If you are running your own business with little help this might be a time of the year when you can only be reactive and deal with mostly incoming things and pushing your retail sales, spend some time to plan out some wholesale newsletters so you can continue to keep in touch with your stockist throughout this busy time.
If you’re planning on running any Black Friday promotions on your own retail channels you might want to consider offering your stockist something too. The reason for this is that you don’t want to be seen to compete with your stockists so if you are going to offer big discounts you might want to offer stockists something at the beginning of October to “get ready” for Black Friday. This doesn’t have to be a heavy discount on your full range but see it as a time to clear things that you have plenty of stock of or offer discounts on a specific product or maybe a free with purchase offer.
Some larger retailers will still be buying for Spring/Summer so if you do supply them, check in to see when they will be finalising their selections, so you don’t miss any important deadlines.
Check in to see how your range is doing for any stockist you picked up at the Autumn shows or that has bought into your new range before its get’s too busy and you won’t have time to do this. Continue to follow up on any leads that you have reached out to too.
If you’re not doing anything for Black Friday, perhaps consider something to support your independents for Small Business Saturday which happens on the 8th December this year so a good time to run a promotion for this would be early-mid November.
Make sure you have all your new product launches ready for the Spring shows and that you have time to photograph it and create/update your catalogue.
Continue to speak to any larger retailers about Spring/Summer 2020.
Movember and World Vegan Month
Last push now, you’re almost there, you can do this! December is generally super busy if you are a product-based business, independent retailers will be placing orders as close to Christmas as just a few days if you can provide them with good lead times. Make sure you let your stockists know when your cut-off dates are and that you give them plenty of notice.
Make sure to send an email/newsletter to all your stockist to thank them for this year, let them know if you are closing between Christmas and New Years and when service will resume after the holiday season.
Thank you so much for sticking with me for this year and this little series, if you missed the previous posts you can read them all here (Q1, Q2, Q3). The buying calendar stays pretty much the same, year on year, but retailers do change their sign-off dates and even months sometimes so do remember to check in with your larger retailers what season they are working on, when they will be signing off and when they are holding meetings etc. so you don’t miss out.
If you want to scale your wholesale in 2020, it would be good to start planning this out as sooner rather than later I now offer full strategy days where we will develop a strategy for your wholesale for the next 12-18 months which includes who you should be targeting, what shows you should exhibit at, what product development you need to support the growth you want, creating your sales forecast and much more. You can read all about it here and you can book a free discovery call here.
After a decade in the home and gift industry, Therese founded the Small Business Collaborative to help small creative businesses navigate their journey to wholesale. Therese has sold a vast range of products to both independent shops and large high street retailers.
Seeing your products in a retail store might seem like a faraway goal, Therese will guide you and share her knowledge to give you the tools and confidence you need to reach your destination.