Use this time to let your stock run low and get a good look at what you need to do over the next couple months. I know there will be a few things extra for me to stock next year, and a few things I don’t wish to continue with in my inventory. Hey, stick with what works – BUT don’t be affraid to try new things along the way.
Also, don’t forget it’s Tax time again!
You’ll need some time to gather all of your information – catch up on paperwork.
First, you’ll want to push any remaining Fall, Winter and Holiday clothing out this month – no later than the middle of November, in fact. Mom’s are thinking family portraits and Christmas gifts! Clothing will slow down a bit and T-O-Y-S will pick up for sure until the New Year.
You’ll want to have your inventory in order by the New Year, having your spring and summer items stocked in your store, along with any other season. It’s what we’ve worked so hard for all year, picking end of season clearance items to profit on, at the right time. If you sell worldwide – you’ll already know that there are different seasons in different parts of the world and having a variety of what sells best for you is key. My best selling month for bathing suits is January – so I know that I need to stock up by the end of December to capitalize on any profits before I leave money on the table.
Don’t worry if your sales decline a little bit over the next month or two – it’s totally normal and the perfect time to regroup and start fresh for the New Year.
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