Over the last month, we’ve been analyzing our marketplace data and making predictions about holiday 2020. Our goal is to offer as much insight as possible to our customers to help you prepare for what will be a very unique holiday season.
There are a few proactive steps you can take to set yourself up for success ahead of the holidays. Here, we’re sharing five tips to help you prepare.
Update your lead time
In one of our recent surveys, nearly 80% of Faire retailers cited fast turnaround time between placing and receiving orders to be more important during the holidays compared to the rest of the year. The lead time that you offer on your website and Faire brand page should be kept as accurate as possible to help retailers plan their buying appropriately. Plus, the more accurate you are, the more likely retailers will be to return to your line again and again. Update your lead time whenever things change on your end.
Make sure your catalog is complete
To offer retailers the best possible buying experience, your Faire brand page should match the wholesale offerings on your website and all other channels. Complete catalogs not only help retailers access the full range of your products, but consistency across channels — including price — solidifies the credibility of your brand. Whenever you have new products to launch on Faire, our team is happy to help get your catalog updated.
Create a new collection
Collections are one of the best strategic tools to help buyers focus their buying on your best selling products. You can also think of collections as a way to make purchasing recommendations for buyers who are new to your line. Craft a catchy title for your collection and select a creative image to make your merchandising stand out. Plus, if you have seasonal products, you can highlight those items in a winter or holiday-themed collection.
Share the news about net 90 terms
To celebrate the resilience of our community and help retailers buy with confidence during this holiday season, we’re increasing net terms up to 90 days for eligible retailers. Our net 90 promotion will be running from September 29 to October 12. Note that your payout won’t be affected in any way.
This is a good time to promote your line through Faire, as your retailers have an opportunity to benefit from net 90 payment terms. You can let your buyers know that they may be eligible for special terms during this promotion. We’ll be sharing marketing assets for your use soon — stay tuned!
Focus on marketing
Once you’ve made updates to your page and are ready for holiday, it’s time to ramp up your marketing. Email and social media are excellent tools for spreading the news about your seasonal goods, new products, and any promotions you may be running this holiday season. At Faire, October and November are our busiest months for buying, and it’s a good idea to have a marketing plan in place ahead of time. You can use Faire’s free marketing tools to make promoting your line seamlessly simple this holiday season.