5 Things I wish I’d known in the run up to peak season

Countdown to Xmas series

The Xmas countdown is on! That means a lot of excited shoppers looking for good value purchases in the run up to December 25^th as well those who are patiently waiting it out for the Boxing Day sales.

While lots of us will be waking up on Christmas morning with crossed fingers hoping for our dream present, any retailers going into peak simply hoping for the best could be in for some disappointment.

It’s not enough for retail professionals to go into the period  on a wing and a prayer hoping that creaky systems will hold up – you need to plan and prepare to make the most of the surge in demand. And while it may be too late to do anything about it this year it’s a good idea to make a note to be fully ready next time round.

We’ve been having a think about the preparations you need to make and have come up with some ideas for how to win in 2024.

So here are 5 things you wish you’d known in the run up to peak season.

1. How to bridge the gap between online and instore shopping

A multi-channel shopping experience has become standard for most customers, beginning in diverse locations but quite often online. From internet search to social media they may zig and zag, back and forth before making a purchase either in-store or online.

The expectation that this will  be a seamless, fluid experience is why a centralized system for managing inventory, orders, and customer data across all sales channels is now a must for retailers – ensuring consistency and real-time updates between online and in-store orders.

Advanced inventory management will activate your ability to track product availability in real time, ensuring that items listed online are also available in-store, which reduces the risk of overselling.

An Omnichannel Order Management Systems (OMS) will streamline order processing, routing orders to the most efficient location for fulfilment, whether it’s a warehouse, distribution centre, or a local store. This ensures that customers receive their orders quickly and with minimal hassle. At Modulus we do this as standard.

• Forecast demand accurately

Using your own data together with market trends can help you to predict the expected order volume during peak seasons. This will help you plan ahead and allocate resources accordingly.

By integrating your Order Management System and Warehouse Management System with your e-commerce platform and CRM you can collect historical sales data, customer purchase history, and other relevant information for this kind of data analysis.

Our Modulus inventory management software can work in tandem with demand forecasting models to optimize stock levels. This will help you to set reorder points, safety stock levels, and automate order replenishment.

But don’t forget that while technology can greatly enhance your demand forecasting accuracy, you know your sector well and your expertise in the retail industry will play a significant role in making the right business decisions based on the forecasts you get.

• How to flex my order pick pack and ship operation to meet peaks in demand

We can’t always predict when a particular item will catch the public imagination although we know peak season, Black Friday, Christmas and New Year sales will be big. Which is why it helps to have pick, pack and ship technology which can flex to meet demand.

In addition you need to optimize your order picking process by organizing your warehouse strategically, ensure you have adequate inventory levels and optimize layout to minimize travel time for pickers. Group popular items together to save time. Have a clear and efficient process for handling returns and exchanges.

Order tracking systems like Modulus will monitor your stock levels and order statuses in real-time so you can identify and resolve issues quickly.

Our fully scalable system can adapt to increasing demand and help you be better prepared for the increased order volumes during Christmas and Black Friday, providing a positive experience for your customers while minimizing operational challenges.

• Meet customer expectations in new ways

Can we suggest throwing in some magic? By meeting customer needs in imaginative and unexpected ways you can improve your chances of a customer staying loyal to you.

With increasing concerns about the planet’s future, many customers want businesses that can demonstrate their commitment to the circular economy and any advances in this area become a point of difference. Do you have a great record on cutting down on returns wastage for a greener footprint or do you allow customer to re-sell your labels fashion items to earn credits to give items a new home? Some retailers have arrangements with charity shops to collect large items for re-sale cutting down on waste and bolstering your reputation for long-lasting hardwearing products.

• Find the right technology partner ahead of time

To get your systems right for next year you will need to work with experts you can trust. Identify and select the right technology partner ahead of time and work together to identify your requirements.

Evaluate the options on the basis of scalability and ease of integration with your existing systems like your ERP.

At Modulus we have over 20 years’ experience in the field of retail technology. After working for major online and bricks and mortar retailers, our founder is passionate about helping fellow professionals overcome their problems.

Take a trip to the warehouse and talk to your order fulfilment staff, to understand their pain points and requirements. This input will help you identify the features and functionalities your systems need to have. We talk to people within the industry all the time to gain an ever increasing depth of knowledge about what makes your life easier and we’d love to talk to you!