The Lunar New Year Fair is a perfect chance for young people to practice entrepreneurship. But how to play it smart?
The Auction of Victoria Park Stalls records a high amount of HK$630,000 for the upcoming Lunar New Year Fair. In fact, the Lunar New Year Fair is a perfect chance for young people to practice entrepreneurship. It is also a sales and marketing opportunity for the brands who want to increase their exposure rate and boost sales volume at the beginning of the year.
The Lunar New Year Festive Fair is a typical one-time / seasonal sale, so finding the balance between the right purchase amount and accurately grasping the sales pattern is the key to success.
The potential sales at a seven-day Lunar New Year stall can be estimated by the sales records which is also a useful reference to help get your inventory ready. Insufficient stock will lead to a waste of booth rental costs and miss potential sales if your inventory is not capable to cope with the whole sales period.
In order to save shipping time and costs, retail veterans always merchandise a big load of stock at a low price which is capable of supplying the New Year’s sales. It is very reasonable for entrepreneurs to be aggressive, too. However, some of them worry about a potential overstock after the sales period since that can cause expensive warehouse rental. This backlog of inventory definitely can affect turnover.
Using a traditional warehouse as a storage method to support short term sales could be painful because of limited service hours. Furthermore, most warehouses could not provide short term contracts and that will make entrepreneurs hesitant about having to commit to long term costs.
So how do you reduce the negative impacts of excess stock that you need to store after the seasonal sales? A good return policy with suppliers or manufacturers and a creative promotion plan will help you to save a lot of money. The rest of the problems mentioned can be easily solved with a better storage solution.
We know that the right partner with the right plan is important for your business. Cube is experienced in business storage and offers a range of solutions to fit your needs, including:
- Flexibility to adjust the storage unit size for free;
- Only pay for the size you actually used;
- Shorter contract terms
- 24 hour access to the warehouse using smart key cards
- Double door bulk storage access, making it easier to store pallets
Cube’s resilient commercial storage solutions are perfect for helping you to manage your stock for seasonal sales. We offer flexible leases with attractive rental costs. The option is all yours if you decide to continuously sell your goods in different channels after the seasonal sale, such as through online stores. So, don’t worry about storage being an obstacle for you with Cube as your partner you can start planning for success today!
Want to know more Cube business storage solutions? Please call 29142200 or contact us.