After the holiday rush, retailers face a crucial task: analyzing sales data to inform inventory planning for the year ahead.
Post-holiday insights help you understand what sold, what didn’t, and what customers want. By leveraging this data, you can make smarter inventory decisions, minimizing risks like overstock and stockouts.
Find out three key steps to follow to leverage post-holiday sales data and how inventory management software can ease this process to effectively plan your inventory this year.
Step 1 : Reviewing Your Key Metrics Post-Holiday
Analyzing post-holiday sales data will give you the insights needed for effective inventory planning. In fact, it comes down to focusing on three key metrics:
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Sell-through Rates : This metric shows how much of your stock sold versus what was available. A high sell-through rate indicates strong demand, while a low rate suggests overstock.
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Customer Trends and Preferences : Understanding what customers bought during the holidays reveals what’s trending, helping you plan for future demand.
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Product Performance Across Channels : Sales performance can vary between in-store and online channels. Analyze this to refine your multi-channel strategy.
By pooling data from your retail POS software and retail inventory system, you’ll be able to get insights into customer demand, behavior and product performance from the past season and use it to make the right future purchasing and stocking decisions.