We\u2019ve all seen the news, well, we can\u2019t really escape it, can we\u2026<\/p>\n\n\n\n
\u201cGlobal supply chains at risk of collapse, warn business leaders.\u201d<\/strong><\/em><\/p>\n\n\n\n \u201cGlobal supply chain disruptions<\/a> are spreading, and nobody knows what to do about it.\u201d<\/strong><\/em><\/p>\n\n\n\n Whilst there are obvious challenges for retailers looking to maximise the potential of an ever-growing online customer base during peak, to catastrophise and panic is as useful as making a brew in a chocolate teapot.<\/p>\n\n\n\n So, we asked James Hyde, Founder of James and James Fulfilment, and the company\u2019s new CEO Emma Dempsey<\/a>, for their top advice\u2026<\/p>\n\n\n\n A value-added fulfilment provider who\u2019s worth their salt will combine excellent inventory insight<\/a> with promotional support to make sure you\u2019re maximising every peak trading opportunity. As we\u2019ve seen such huge changes in customer behaviour over the past 18 months, forecasting demand has become even more complex, so having reliable data to hand is important.<\/p>\n\n\n\n Consumers are all too familiar with \u2018out of stock\u2019 notifications and gaps on supermarket shelves, so their buying decisions are likely to be influenced more by delivery certainty than price, especially for Christmas.<\/p>\n\n\n\n Retailers need to know what they have, and what they can deliver, when. Vague promises are simply not good enough. Can you honestly answer the following with confidence? If not, it might be a good time to get some support for Peak:<\/p>\n\n\n\n Figuring out your lead time and days of stock<\/a> is critical to forecasting customer demand.<\/p>\n\n\n\n If you\u2019re sourcing your stock from overseas then it\u2019s important you allow for extended inventory delivery lead times. As well as possible delays at customs, there\u2019s likely to be seasonal fluctuations as shipments to warehouses increase ahead of Black Friday, Cyber Monday (BFCM) and Christmas.<\/p>\n\n\n\n The more info and data you have access to, the better. You\u2019ll know you have sufficient stock and can avoid overstock or stockouts.<\/p>\n\n\n\n Launching multiple flash discounts? Embrace uncertainty with multiple scenarios in case products sell faster or slower than expected.<\/p>\n\n\n\n If you\u2019re suddenly out of stock, let customers know if\/when there\u2019s more coming. Then set up back-in-stock notifications to email them as soon as you get more inventory. That way they\u2019ll be reminded to log back in to your online store and purchase the item they originally wanted to buy.<\/p>\n\n\n\n Surplus stock? Limited time offers play on multiple consumer psychologies, namely Fear Of Missing Out (FOMO) \u2013 we\u2019ve all been there. Your special deal countdown using marketing automation will drive a sense of time urgency and help drive sales.<\/p>\n\n\n\n After you\u2019ve successfully implemented your automated marketing campaigns and BFCM has gone superbly, you\u2019ll then need enough stock on hand to replenish for December.<\/p>\n\n\n\n There\u2019s no better time to clear out piled-up inventory whilst bringing joy to your customers.<\/p>\n\n\n\n Given the delays to inbound stock, especially from the Far East, the 2021 peak trading season is also set to be a great opportunity to revisit the slow-moving lines that are clogging up warehouse space (and costing you money while they\u2019re sitting on shelves). Not only will this address the ever-present problem of ageing stock but, with items already in the fulfilment centre, you\u2019ll be able to confidently promote stock to your customer base with the certainty of delivery by a set date.<\/p>\n\n\n\n Take the time now to assess old stock (if you haven\u2019t already), identify any items that could fill the gaps created by supply chain delays and develop too-good-to-miss promotions. This will put you in a great position to respond to demand.<\/p>\n\n\n\n Something as simple as adding an extra 10% discount on your website to encourage conversion for products that aren\u2019t shifting will make a significant difference in your overall sales.<\/p>\n\n\n\n A no-brainer. Set clear customer expectations of when they\u2019ll receive their order. If you don\u2019t, you could lose out on sales and loyalty.<\/p>\n\n\n\n If you\u2019re winning customers with a promise of value, you\u2019ll want to keep them by managing expectations created by that promise. Fulfilling a promise is more important than speed (though we do quite a good job of balancing both at James and James). When you\u2019ve got access to great inventory information, a flexible promotions model and excellent fulfilment, you\u2019ll be able to deliver the certainty and control required to meet customer expectations.<\/p>\n\n\n\n Promoting products on your online store that are not yet in the warehouse \u2013 or even in the country \u2013 is a fast track to customer disappointment and can be damaging to your brand. Plus you\u2019ll want to avoid your customer services team being inundated with \u2018Where\u2019s my order?\u2019 queries \u2013 that just adds even more cost and unproductivity to your business.<\/p>\n\n\n\n Be sure to share your planned promotions, including your daily profile of demand, so we can optimise our operation to support you throughout this hugely busy time.<\/p>\n\n\n\n It\u2019s a good idea to be proactive about the use of promotions to control your sales process, both to maximise sales and minimise the risk of fulfilment delays caused by excessive demand.<\/p>\n\n\n\n Make sure your website order delivery info aligns with the peak plans of your fulfilment partner. At James and James we\u2019ll work with you throughout peak to put in place delivery promises that are both realistic and achievable, enabling you to deliver the customer certainty that\u2019ll be key to winning more customers \u2013 and sales \u2013 in 2021.<\/p>\n\n\n\n Our fulfilment centre staff pick, pack and ship products daily, and they\u2019d love to purchase them at a discount. This has worked particularly well for the eCommerce businesses we work with in that they\u2019ve got another sales stream during peak, and we can attract further exceptional people to work in our fulfilment centres to fulfil customer orders! Win, win, win.<\/p>\n\n\n\n Planning for peak is one thing, planning post-peak is another. It\u2019s a good idea to take a step back after the excitement of peak to see how things went and what can be done better for a successful festive selling season ahead. Once BFCM is wrapped up, we\u2019ll support further promotional activity to move any unsold stock and make sure you\u2019re in a good position for Christmas.<\/p>\n\n\n\n Online retailers need to bring plans forward if Peak is going to deliver an essential revenue boost. Reach out to the team at J&J<\/a> if you\u2019re needing an extra hand \u2013 or two hundred \u2013 this busy golden quarter.<\/p>\n\n\n\n J&J is an industry-leading 3PL provider<\/a> with global fulfilment centres<\/a>. We combine great processes with great technology, resulting in fast, accurate, and cost-effective shipping to customers across the world.<\/p>\n\n\n\n1. Forecast with accuracy<\/strong><\/h3>\n\n\n\n
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2. Get hold of your inventory early<\/strong><\/h3>\n\n\n\n
3. Scale up scenario planning<\/strong><\/h3>\n\n\n\n
4. Clear old stock<\/strong><\/h3>\n\n\n\n
5. Set expectation<\/strong><\/h3>\n\n\n\n
6. Balance that expectation with speed<\/strong><\/h3>\n\n\n\n
7. Help us to help you<\/strong><\/h3>\n\n\n\n
8. Align your comms<\/strong><\/h3>\n\n\n\n
9. Incentivise the frontline<\/strong><\/h3>\n\n\n\n
10. Keep up the momentum<\/strong><\/h3>\n\n\n\n
The key takeaway from James and Emma?<\/h3>\n\n\n\n
Unlock your eCommerce potential with J&J<\/h3>\n\n\n\n