Summary: Black Friday will wipe out a retailer’s inventory if things go well. That’s good, but it means retailers must restock quickly. We help eyewear retailers with an extensive selection of wholesale sunglasses for men, women, and children.
If there is a proving ground in retail, it is Black Friday. A close second could be Cyber Monday. Between these two retail holidays, sellers of everything from bulk designer sunglasses to electronics and kitchen gadgets earn a fairly large percentage of their annual profits. But what about afterward? If you sell wholesale sunglasses at retail, where do you go after Black Friday?
When the Black Friday rush is over and the dust finally settles, you have a brief moment to enjoy record sales and profits. But you also need to face the stark reality of a depleted inventory. As a sunglasses retailer, your post-Black Friday inventory gap could become a bottleneck that harms December sales. How you recover from Black Friday matters.
You can have a strong Black Friday and continue strong into December if you can learn to master your restock strategy. The key to that strategy is a wholesale sunglasses distributor who can help you transform an otherwise complex logistical challenge into a streamlined supply of high-demand sunglasses for men, women, and children.
Restock Speed Is Critical
The first point of note for Black Friday recovery is as clear as day: restock speed is critical. On average, the first weekend following Black Friday and Cyber Monday sees a significant spike in retail sales. But it also represents one of retail’s biggest holiday challenges: the inventory desert.
If you have done well, your best-selling sunglasses are all gone. Perhaps most of your shelves are bare. You need access to stock quickly if you want to take advantage of the selling momentum Black Friday built. The quicker you can get product in, the better off you are going to be.
If You Run Out of Stock
Don’t ignore the possibility of running out of stock following tremendous Black Friday and Cyber Monday sales. Running out of stock can be detrimental to your business in multiple ways:
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Lost Sales – Every day you are without the most demanded sunglasses is a day you are losing sales and revenue. Unfortunately, you are probably losing to one of your competitors.
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Lost Momentum – Black Friday creates sales momentum. You risk losing that momentum if you don’t have enough stock to keep up with demand.
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Unhappy Customers – The modern consumer lives in an on-demand world. There is little tolerance of stock-outs. A lack of stock could mean unhappy customers who go elsewhere.
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Missed Opportunities – The transition from Black Friday into the Christmas and New Year’s shopping seasons should open new opportunities to reach more customers. You might miss those opportunities if you don’t have enough stock.
You should now have a good idea of why quick restocking is critical following Black Friday sales. But how do you do it? How do you simplify the Black Friday restock so that you’re not caught with your proverbial pants down?
Step #1: Conduct a Black Friday Postmortem
The first step is to conduct a postmortem, which is to say that you spend some time identifying your restock needs. Do this on Saturday if you can. If not, Sunday or Monday at the latest.
Doing a postmortem serves two purposes. First, you need to see what you have left so you can place an order to restock your shelves. But you also need to see which products sold best. These are the ones to focus on as you transition into December.
Did one particular brand do exceptionally well? Perhaps a brand or model you expected to move didn’t get a lot of attention. Learn everything you can about what did and did not sell on Black Friday and the few days leading up to it. Make your restocking decisions accordingly.
Step #2: Evaluate Your Supply Chain
Speed is the name of the game in your Black Friday restock strategy. You need new stock as quickly as you can get it. Therefore, the next step is to evaluate your supply chain. Start with lead times.
Did your October and November orders arrive on time? This is important because you need a reliable wholesale sunglasses supplier who can get your product on schedule. An unreliable supplier will not meet your need for speed.
Also look at your suppliers’ shipping options. If there is an option that will get you a new round of wholesale sunglasses faster, it might be worth investing in even at a higher price. Paying a little more for expedited shipping will be worth it if you can keep the Black Friday sales momentum going.
Step #3: Start Thinking About Valentine’s Day
You’re going to restock your shelves by placing another order for wholesale sunglasses, right? It stands to reason that you will be thinking about Christmas and New Years sales. But also start thinking about Valentine’s Day. It’s right around the corner.
Thinking about Valentine’s Day in late November gives you plenty of lead time to order appropriate stock. Do a little market research to learn more about anticipated trends for the new year. The right research could have you well positioned to continue strong sales from mid-January into February.
Step #4: Devise a Discount Strategy
As you’re thinking about the next order to restock your shelves, consider the items that did not sell as well as you had hoped on Black Friday. As far as wholesale sunglasses go, they probably still have value on the retail market. Now is the time to devise a discount strategy that can clear them from your inventory.
Discounting the products will help you turn overhead into revenue. Selling them at discounted prices will also clear shelf space for your incoming orders. And of course, Christmas shoppers love discounted prices. You might even consider starting with small discounts and gradually increasing them the closer we get to Christmas.
Step #5: Place Your Order With OE Sunglasses
The final step is to place your restock order with OE Sunglasses. We believe the best way to simplify the Black Friday restock is to work with a single supplier who offers everything you need at prices that fit your budget. We offer nearly two dozen brands of wholesale designer sunglasses for men, women, and children.
FAQs
How soon should I place a restock order following Black Friday?
As soon as possible. The goal is to have an ample stock ready to go the following weekend.
Should I pay for expedited shipping?
If standard shipping will not allow you to restock in time to manage early December sales, expedited shipping is worth considering.
What should I include in my first post-Black Friday order?
That first order should consist primarily of products to replace your hottest-selling items. Keep the momentum going by giving your customers what they want.
Should I use more than one wholesale supplier?
Use more than one supplier if that’s what it takes to build your stock quickly. But please consider OE Sunglasses as your primary wholesale supplier. We have enough brands, styles, colors, and sizes to completely refill your shelves.
