It has been predicted worldwide that this year’s festive period will be a ‘summer like no other.’ It will be the first year in over two years where lockdown restrictions are completely lifted, and social gatherings are no longer discouraged in almost all countries around the world. For South Africans, the warmer weather has arrived, and shoppers are keen to embrace the outdoors. And of course, the festive season also means family time, which gives many an extra reason to shop.
It’s therefore worth not being overly optimistic and anticipating that your target market may be feeling the pinch, given the recent petrol hikes, rising interest rates and high inflation. The solution? Have a contingency plan – formulate a strategy you will use to either sell more stock quickly if you over supply or gain access to the human and financial resources to produce more stock if demand remains high.