How to Make Sales on Wholesale E-commerce Platforms in Q4 of Every Year
Fourth-quarter (Q4) of every year is the most important time for wholesale businesses. Many odd things are happening this time around which are not something you repeatedly come across in the rest of the year. There are two reasons for this: the Black Friday sale and major holidays such as Christmas and Halloween.
These two major events result in one of the biggest shopping sprees every year. This is the time to make tons of sales for many businesses but is it also a great time for wholesale businesses? The answer is NO and YES. Let us explain why!
How is Q4 different from the rest of the year?
Q4 is the last quarter of the year and at that time, most businesses redefine their plan and usually dump everything that was left from the previous year’s orders. This is a crucial time to redefine the selling strategy. Some businesses might make skyrocketing profits by increased sales on Black Friday and Christmas/Halloween holidays while some might experience a reduction in sales.
As we explained, Q4 can both be good or bad depending on the type of wholesale business you are in. If you are managing logistics for wholesale businesses, you might experience a huge demand for shipping and customs clearance. Manufacturers that make products for Christmas and Halloween could also be making big profits. On the other hand, some manufacturers might be facing a lack of sales due to holidays, market closings, and high rates from logistics and customs clearance agencies. Figure out in which category your business falls and act accordingly.
Black Friday Sale
Another very important event in Q4 of every year is the Black Friday sale that goes on Friday in November. Around 155 million Americans shop on Black Friday. Imagine how many people shop on Black Friday throughout the world. There is a huge increase in sales and discounts. Offer discounts on wholesale stock so that you can get more orders and clear your stock before the year ends.
A lot of different types of stock are left from the previous orders. Some of it didn’t pass the quality checks, had faults in manufacturing and finishing, orders got canceled or the stock couldn’t get cleared from the customs office. Thai stock is almost useless to most manufacturers and piles up throughout the year. You need to get rid of it too.
How to Increase Wholesale E-commerce Sales in Q4?
So what should businesses do to increase their revenue in a very important quarter of the year? Here are some very important things to do that can collectively increase the chances of you making more sales. Some of these include taking advantage of the holidays and sales and re-work your marketing strategy. Let’s take a closer look in detail.
Prepare for Black Friday and the Holidays
If there is a high demand for your products on holidays, plan for that. Take your previous year’s sales, this year’s growth, and other factors to estimate how much more stock you can sell this year. Produce 30% more than your estimate to compensate for any increase in orders and put the rest on the Black Friday sale if not sold. This strategy can end your year with good returns.
Sell the Leftover Stock
Don’t let the leftover stock go wasted and have a negative impact on the yearly revenue reports. Sell it to potential buyers at a breakeven price so that you avoid the loss at the end of the year. How do you find buyers who will take the leftover stock from you? The answer is small business owners who don’t need big orders and art looking to buy something cheap to make some extra profits.
You can do 2 things with your leftover stock. Either put it in the Stocks section at a fixed price and let the buyers contact you or arrange an online auction for it at ou Auction section and let the businesses bid the highest for your leftover stock. You can put product images at, the lowest price, Buy now price, and every other detail you would need to add so don’t let these extra profits slip away!
Re-Work Your Marketing
At this time around, you have to re-work your marketing strategy. Usually, marketing can not work. You need to make it more personalized. In Q4, you can create different marketing campaigns according to different events such as Black Friday and Christmas. Offer relevant products, discounts, and extras to relevant businesses so that you can make the most out of these events. Using the power of digital marketing and targetted keywords (based on the events) can help you leap!
The wholesale business can be tricky. Managing huge orders and adjusting the waste/leftovers is an issue that every manufacturer/distributor faces. That is why it is important to be present on such platforms and put your stock instantly for sale or auction and earn back the money that is going to be lost if you decide to dump your stock as most manufacturers do.
These techniques and suggestions not just apply to Q4 but should be used whenever needed. It’s just that they need to sell leftovers is highest at the end of every year. So cut yourself some slack and make skyrocketing sales in every Q4!
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