Hey sellers! Happy new year! 🎉 The Tet holiday is over and it's time to get back to business. As an e-commerce seller, managing your inventory after Tet can be challenging. Customer demand changes rapidly, and you need to restock products quickly to avoid stockouts.
In this post, I'll explain the best practices for managing your e-commerce inventory after Tet 2024. These tips will help you meet customer demand, minimize costs, and boost sales in the new year!
Capitalize on Hot Selling Items After Tet
The gift-giving season around Tet drives up demand for certain product categories. Perfumes, skincare, fashion items, and electronics are particularly hot sellers.
Once Tet ends, consumers will start looking for deals on these same products! Make sure your listings are well-stocked with bestselling gifts. Run promotions to clear older inventory and bring in the new season's selection.
Don't forget about seasonal products either. Demand for holiday decor, traditional Tet clothes and foods will quickly drop off. Discount these items to sell remaining inventory. Then, swap in merchandise suited for the new season.
Carefully Forecast Demand for the Post-Holiday Period
Predicting customer demand is crucial for proper inventory planning. Look at sales data from past years to estimate demand after Tet.
Expect an initial surge as consumers spend holiday cash and shopping resumes. But demand may cool in subsequent weeks before rising again with seasonal occasions like Valentine's Day.
Regularly review your sales reports and adjust inventory orders. Closely monitor bestsellers and fast-moving products to avoid stockouts. You want to meet demand without getting stuck with excess stock.
Take Advantage of Post-Holiday Promotions From Suppliers
Many product suppliers run promotions to boost post-holiday sales. Ask your vendors about deals on inventory replenishment and bulk orders.
This is the perfect time to restock popular products at lower cost. You can pass some savings onto customers through sales and promotions too.
Pay attention to your procurement costs. Make sure any offers align with your profit goals. Order enough to meet demand without overspending.
Ramp Up Advertising to Bring in Customers
Holiday advertising typically drops off after Tet. This leaves an opportunity to draw in customers through promotions!
Run social media and online ads showcasing your post-Tet deals. Send email blasts to announce flash sales or clearance items. You can capture shopper interest before competitors ramp up spring advertising.
Promote newly arrived inventory catering to current trends. For instance, showcase makeup and skincare products for the upcoming Valentine's Day. Time promotional messaging around key demand drivers.
Prepare for Returns and Exchanges
Gift purchases often result in post-holiday returns and exchanges. Prepare for an influx by designating staff and streamlining processes. Inform customers upfront about return policies and time limits.
Quickly restock and relist returned items in good condition. Discount damaged goods to sell what you can. Keeping items moving will improve profitability.
Replenish Fast-Moving Products First
Focus your restocking efforts on fast-selling inventory. Use your sales reports to see which items move quickly.
Prioritize reordering top-selling products to prevent losing sales. Hot holiday gifts likely will remain in demand post-Tet. Keep them in stock to carry sales momentum into the new year.
Slow sellers can wait until inventory levels normalize. You don't want excess stock occupying your warehouse. Only reorder slow movers once they start depleting.
Summing Up Managing Inventory After Tet
With some planning and prep, you can smoothly manage inventory after the Tet rush. Restock intelligently based on sales data and demand forecasts. Take advantage of post-holiday promotions and marketing opportunities. Stay attentive to procurement costs, returns, and fast-selling products.
Following these tips will help you meet customer demand in the new year! Let us know if you need help optimizing your e-commerce operations after Tet. Our ecommerce solutions can assist with inventory management, merchandising, and more. Wishing you a prosperous year ahead!