When managing inventory for a candle business, there are a few factors you need to consider. These factors include how long it takes you to get more of the product, how fast the candles are selling, and the history of the sales. Paying attention to your inventory can help you be more successful with an online candle store.
The length of time it takes you to get ahold of a specific candle can be a big factor when you need to restock the shelves. If you only have a small handful left of a candle that sells on a daily basis, you could be in trouble if it takes a few weeks to get more. If you make your own candles, you must estimate the time it will take you to make what you need. You also need to know which candles to make first, how many to make, and remain on top of the orders. In order to be a successful online candle business, you cannot run out of a product and make customers wait. Never take orders and send an email telling the customers their order is backordered until a specific date either. It is easy to lose customers online and they will not return.
You always must keep track on how fast the candles are selling. You might have a specific type of candle that sells one a month and one that you just cannot keep stocked enough. Knowing which candles are selling the most allows you to maintain a good inventory. There is no reason to hold onto products that don’t sell or continue to buy and stock them either. You also must be prepared for spikes in sales for candles that become popular for a period of time. As an immigrant reads in immigration news now is the time to fill out a citizenship application. The applications fly off of the shelves. As certain candles become popular through the news or trends, you must be prepared with your inventory also. If you do not pay attention to the trends, people will have to shop at a different online store because you don’t have the product.
The history of your candle sales commonly will repeat themselves. Some people buy others the exact same gift every year for special occasions like Christmas or their birthday. You might notice specific candles being a hot item during Valentine’s Day or another holiday. If your sales show a spike during Christmas every year of a particular set of candles, make sure you are ready for the sales this year. Don’t overstock, but be prepared for enough sales.
There are many things you need to do to control a good inventory of your candle business. Keeping proper inventory can help you be successful by having the ability to fulfill orders on a timely basis. Always ensure you pay attention to the sales of your products, notice trends, and the length of time it takes you to shelf each product and get it out the door.