How do I plan ahead for purchasing and restocking inventory for an online boutique?
I'm starting an online retail boutique and I'm importing hand-made items from another country that will take about two months for production and delivery. I'm having difficulty figuring out inventory because if I run out it will be a while for restocking. I will be selling jewelry, handbags, and clothing. If I order now it will be probably in spring that I can launch. Thank you!
Congratulations on your venture!
You have multiple options:
-If you have already started and have some items then look at the previous data on which items were moving fast and order based off of that.
-If you are planning to order for the first time, then you'd have to do some guesstimating on the items you like and think will move fast, order more of those.
For such a venture, you should already have a good idea of what the best sellers will be. It's not too late to do some advance market research. Find out what your competitors are displaying on the homepage. See if they have a 'trending' list or 'best sellers' list. This will take some time, but it will give you the most accurate information that you need.