As this post is being written, the 2024 summer Olympic games are winding down. There are just a few more days remaining. As a retailer, have you capitalized on the Olympics to reach more customers? Here's hoping so. Big events like the Olympics represent a stellar opportunity to sell more product.
Planning Started in January
Planning for Olympics-related marketing started in earnest this past January. Retailers hoping to have the latest sports sunglasses available in advance of the Olympic games started looking to their wholesale suppliers for great products and pricing. We started seeing orders coming in very early in the year.
Retailers who ordered early had access to the best selection. They were also able to start promoting sales a couple of months before the games actually started. The most successful among them have enjoyed steady sales over the last couple of months.
It all goes back to planning. Capitalizing on something like the Olympics requires being prepared in the months and weeks leading up to the event. And to be prepared, you really need a plan.
The Benefits of Strong Planning
If you are wondering how planning ahead can actually help you sell more designer sunglasses, we have some things for you to consider. Here are the benefits of a strong, well-developed plan:
- Inventory Access – It is obvious that most retailers are going to want to take advantage of events like the Olympics. That means high demand for wholesale products, including the wholesale sunglasses we sell. Planning involves getting orders in early. That translates into better inventory access.
- Product Placement – Ordering inventory is just the start. For big events, product placement is critical. As a retailer, you need to figure out the best way to display the sunglasses you intend to highlight for that event. A solid plan gives you direction so you're not left trying to figure it out when the event finally arrives.
- Consumer Trends – Consumer trends continue to evolve even as big events gradually draw near. Planning gives you an opportunity to pay attention to trends so that you can adapt as needed. If you wait until the week before, the most important trends may have already passed you by.
- Inventory Management – Even as you are preparing for the big event, you are still selling a regular inventory. You are going to need to maintain your inventory of wholesale sunglasses so that you can resume normal sales tactics after the fact. If you're not planning for that period, your inventory might suffer.
- Promotions – Lastly, you need time to come up with the actual promotions you will use to capitalize on the big event. Hastily developed promotions don't tend to produce the desired results. But a strategically developed plan put together over several months can be a game changer for sales.
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