Global trade welcomes the sales peak season as winter arrives. To worldwide traders this is the period of challenges and opportunities. Perhaps you are getting ready for the winter peak! As business owners, how can you secure even more sales orders during this time?
Here are some key points to inspire your business to outperform other competitors:
1. Refrain from Copyright Infringement & Restricted Goods
Toys was the hottest category in 2021 winter sales, but also encountered the worst infringement issues. Not only did toys brands raise frequent prosecutions, many hot selling products were also patent-protected. As such, suppliers need to be extremely careful not to fall into the traps of rights infringement.
Suppliers must check any copyright issues regarding products’ trademark, appearance and branding. For new suppliers, they should enquire if there is any patent or copyright when confirming product selections.
2. Understand Market Trends & Refine Product Strategies
Get to know the latest global economy and market demands. As the global economic environment gradually recovers, so as the buying power of consumers. This provides enormous opportunities to global trade.
At the same time, study the consumption behaviour and economic power of your target markets to better meet customers’ demand. It is also crucial to master the winter bestsellers and potential customer demands to maximize orders.
Learn More:
Sourcing Behaviour of International Buyers: Latest Insights and Market Trends
3. Ensure Adequate Goods Supply while Avoiding Excessive Stockpiling
A low inventory level during peak season would undermine sales and customers’ satisfaction. This is the reason why many suppliers would stock up at least 3 times of the normal inventory before the peak. Although this can ensure enough supply, it also brings risks such as a squeezed cashflow or even financial difficulty if the product is not selling as good as expected.
4. Strengthen Marketing Efforts & Enhance Customer Service
During the winter peak, suppliers should devise effective marketing strategies to increase brand awareness. Make good use of social media and digital marketing to attract more customers. You can also run discounted sales campaigns to encourage purchase.
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Take note of the above trade tips and we hope you have glamourous revenue and business performance this winter!
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