This is always an amazing time of year. With the holiday shopping season now in full effect, Canadian shoppers are crowding the malls looking for gifts for their loved ones. It’s a great time for retailers, of course. That is, unless they don’t have enough supply to meet their demands. Naturally, it makes sense for retailers to stock up on inventory long before the holiday shopping season starts. Have you?
What are your most popular items during this time of year?
It’s important to consider the products that are bound to sell the most when you’re ordering new inventory. You don’t want to get caught with a ton of unsold product once the holiday shopping season has concluded. It’s not just the time of year to purchase inventory – it’s the time of year to purchase inventory wisely!
“You shouldn’t simply have stock on your warehouse shelves during this busy time, you need the right stock,” says Paul Trujillo on Business2Community.com, “If your organization tracks inventory well, then you should know what your top sellers have been through the years. A certain toy or trinket? A cozy sweater or holiday décor? Or perhaps you are lucky enough to stock a hot item for the season. A historical sales report will tell you what your repeat best sellers are, taking a lot of pressure off your purchasing decisions.”
Can you negotiate with your suppliers to get a better deal on bulk orders?
In the weeks to come, many new customers will walk through the doors of your store for the purpose of purchasing gifts. As we pointed out, you’ll need to stock the shelves with the products they’re looking for. To have enough, you’ll likely need to buy them in bulk. But what if it’s too pricey for you? Is there a way you can work something out with your suppliers? On Inc.com, Doug Bend of Bend Law Group suggests that you negotiate with your suppliers and show them how it will be worth their while.
“Spend time to discover the supplier\’s goals to increase the mutual gains achieved in the agreement,” he advises, “For example, if the supplier won\’t budge on price, focus instead on other areas of the agreement, such as the amount of the down payment, the length and scope of the warranty, a discount for purchasing in bulk, and other areas of interest that might provide even greater benefits for both parties.”
Where can Canadian business owners go to secure money to buy new inventory?
Canadian POS Corporation’s merchant cash advance program can provide you with the money you need within 24 hours! Because we don’t offer loans, we don’t need to do any credit checks, we don’t require collateral and detailed business plans aren’t necessary. All that is necessary is a review of your credit card and debit card sales from months past.
If you need to stock up on inventory for the holiday shopping season but are worried about how to afford it, don’t hesitate to contact Canadian POS Corporation. We’d be happy to offer you a free, no obligation quote for a merchant cash advance. Call us at 1-877-748-2884 or email us at info@localhost.