Setting up your holiday product strategy: A guide for retailers

As we enter the peak shopping period, it’s more important than ever to ensure that your inventory and marketing strategy are on point to win sales with Christmas and Sinterklaas around the corner. This time of year can be challenging, as estimating your shopping amounts and ensuring a compelling product assortment that will resonate with customers is crucial for success. Whether you’ve already begun your wholesale shopping for the gifting season or are just starting, this guide will help you set up or refine your product curation for the upcoming months, ensuring you’re well-prepared to maximize your sales potential.

Analyzing past performance

Before shopping for your assortment, start by evaluating your past performance to shape a strategic holiday plan that is based on learnings from the previous years, such as which products sold well and which ones didn’t, ensuring your decisions are data-driven and effective. 

• Identify trends & successful products: Analyze online shop data to see which products attracted the most views and interest. Additionally, look back at your data to pinpoint which products & categories performed well. Consider factors such as popular shopping dates, inventory levels, and pricing. These are all factors you can keep in mind once you select the products for your assortment.
  
  
• Avoid past pitfalls: Reflect on previous years to understand what didn’t work. Did you face issues with excess stock or shortages? These insights will guide your decisions and help you avoid repeating past mistakes.

1. Optimize your inventory levels: Monitor your stock closely during the holiday season to meet customer demand without overstocking seasonal items that may not sell. More tips on inventory management are available later in this article!
   
   
2. Create a flexible pricing strategy: Align your pricing with the general pricing of your business to meet your customers' expectations. Given that it’s the gifting season, consider offering a range of products at various price points to cater to different budgets and offer more options to your customers.
   
   
3. Curating your product selection: When choosing items for your holiday assortment, think about the balance of product types that will best serve your customers. Will your shop be the go-to destination for gifts, or will you focus on offering the best wrapping accessories? Or perhaps a combination of both? Keep reading to discover how to effectively plan your product strategy for this season.

Identify key trends in your niche

Keeping up with seasonal trends is essential for curating an attractive product selection and can help you give a boost to your sales. This year, pay attention to popular colors, product types, and themes. Draw inspiration from various sources like Instagram, Pinterest, or trend blogs, such as our recent post on the Timeless Traditions theme. You can then use different tools to start informing your choices of trends you want to play in to. Think of tools like Google Trends, Orderchamp’s seasonal curated pages where we present an assortment of on-trend products and brands, or WGSN’s trend forecasts which are some of the best in the industry. Leverage your own data into trending categories and popular search terms to inform your choices and keep your offerings relevant and engaging for your customers.

Trending brands:

Discover more here.

Consumer behavior is also shifting. Many shoppers are now more conscious of their spending and the sustainability of their purchases. Integrating sustainable options into your collection can appeal to this growing segment and meet evolving expectations.

By curating a selection of on-trend items, you can effectively meet your customers’ preferences and capitalize on viral products to enhance your sales. However, it’s important to strike a balance. Ensure you also include timeless Christmas classics, as solely relying on trending items will likely not help you achieve your sales targets.

Create your collection

Start with the essentials: what are all the key items you need to get through the holiday season? While themed products like Sinterklaas or Christmas items are top of mind, don’t overlook the importance of packaging, wrapping, and decor for your retail space. A crucial part of your product strategy should be incorporating items that enhance customer experience and inspire, even if they aren’t directly for sale. Investing in elaborate gift wrapping and in-store decorations can truly help you distinguish yourself from your competition, offering more than just a place to shop: a true Christmas experience.

Once you’ve compiled your “shopping list,” take time to consider the balance of these items. Aim for a mix of gift products, cart fillers, and decorations, keeping your visual merchandising in mind. By curating an assortment of complementary colors and styles, you can create an inspiring space that not only sets you apart from competitors but also boosts the likelihood of converting passing traffic into shoppers. Consider including personalized or unique items to give your business a competitive edge and attract more customers.

Optimizing inventory

Optimizing your stock levels can be the key to finishing the year strong. By carefully monitoring your inventory, you can strike the perfect balance to avoid overstocking and running out of popular items. Focus on purchasing higher quantities of items with proven demand, like Christmas essentials such as gift wrapping. Additionally, partnering with brands that offer quick delivery times will ensure you can swiftly restock sold-out products. Dropshipping can be particularly beneficial, as it provides extreme flexibility in inventory management, meaning you don’t have to worry about running out of stock since you don’t even need to purchase any stock! 

Brands with short shipping times:

Discover more here.

Plan your marketing strategy

Now that you have your product assortment, you will need a creative marketing strategy that can drive traffic and sales. The coming months will include key dates, such as Black Friday, being the perfect period for you to bring out your best promotions.

• Brainstorm creative campaigns: Get inspiration from previous successful campaigns, such as creating themed product bundles, promoting gift cards, or running a “12 days of Christmas” giveaway.
  
  
• Use a marketing planner: Map out all your communications for all your channels on one big calendar to keep track of all your promotional activities.

Concluding

As you prepare for the busiest season of the year, aim to close the books with a bang. By following the above-mentioned tips, you can set yourself up for maximizing your holiday sales. You can find more inspiration in our Holiday Curation and by browsing through brands’ autumn and winter collections on our marketplace.