What are seasonal chows? Explain by giving examples.
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Examples of Seasonal Inventory
Small Business
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Running a Business
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Inventory
By
Steve Milano
Updated December 04, 2020
Being able to accurately predict your sales peaks and valleys can help you avoid inventory shortfalls, plan your labor and supply needs, maintain adequate cash flow, and enjoy many other benefits.
Looking at examples of seasonal inventory helps you determine if you can use the time of the year to better forecast seasonal demand and your operational needs, according to inventory management services company Unleashed.
Annual Holiday Items
You don’t need to sell holiday-specific items to be affected by Christmas, the Fourth of July, Labor Day weekend or other holidays. Working with your sales and marketing departments, you might be able to create holiday promotions for most holidays.
Review your sales history and compare sales spikes to any holidays near those dates to determine whether the holidays caused those spikes. For example, the Fourth of July weekends usually include a lot of outdoor eating, leading to higher sales of prepared foods, cooking items, soft drinks, paper plates, plastic knives and decorations.
If you own a pet-sitting or landscaping business, contact your customers weeks in advance to see when they are leaving for vacation.
The Four Seasons
Do people use your product or services mostly indoors or outdoors? If outdoors, the weather will affect your sales and demand for your products or services. Don’t use only a calendar to plan your inventory levels. If winter arrives a week earlier than normal or your area experiences high temperatures two weeks earlier than usual, your competition might grab market share from you if you’re not ready to take advantage of early demand, points out inventory management software company Emerge.
If the weather affects your sales at all, keep a close eye on weather forecasts and be prepared to produce, sell and ship a seasonal product earlier than normal.
Think about the activities people enjoy outdoors, such as sports, exercise, camping and picnicking, and make sure your inventory is ready to meet demand. You can promote off-season sales by tying your outdoor products to Christmas gift-giving or winter birthdays.
Quarterly Clothing Sales
In addition to seasonal weather affecting the purchases of certain goods and services, the seasons also change clothing buying habits in three ways. The first way that the seasons affect clothing sales is the fashion calendar. Many consumers stop wearing white after Labor Day, which marks a shift to fall wardrobes, for example.
Another way the seasons affect clothing purchases is obvious: the weather. When temperatures drop, consumers need and buy more warm-weather clothing. The opposite is true when things warm up.
Clothing sales are affected by seasonality. Smart shoppers know the best time to buy bathing suits, for example, is during the winter when demand for these seasonal items is low. Fall is another time prices on summer clothing drop as retailers look to clear out inventory so that they don’t have to store it.
Back-to-School Supplies
If you make school supplies, you may be stuck with a warehouse full of unsold items if you can’t sell them before kids head home for summer vacation. This is especially problematic if your items are fashion-oriented or fad-driven.
Keep in contact with parents and kids via your marketing department to determine the inventory you need to have on hand and when to make it available to take advantage of back-to-school demand.
Find out if your state offers a “tax amnesty” period before school starts. These are periods when states don’t charge sales tax on specific items related to school.