Only an efficient working capital management plan can help seaonal business scale.
Touted to be the most lucrative period for businesses, the festive season contributes to approximately 30% of the annual turnover [of most businesses], as compared to the rest of the year. Bearing such returns in mind, innumerable merchants and small business owners prep up for the peak season months in advance, in order to meet the surging consumer demand. Every business, big or small, aims at grabbing the maximum share of the consumer pie—especially sectors affected by seasonal demand such as retail, e-retail, travel, and hospitality.
Season-ready businesses
It takes an astute business mind, and thorough market analysis depicting current trends and predictions to make the festive season a lucrative one. Businesses that gear up for the peak season need to not only categorise their consumers as early birds and late comers, but also consider the spike in order volumes which calls for an optimal stock check. Furthermore, managing offers and returns during this period is of prime significance. most businesses—be it online or offline—would certainly offer various schemes and discounts which compel others to keep up with the trend.
Also, bulk purchases by them are driven by the discounts offered by distributors and companies during the period, prompting them to stock more at cheap prices for better margins. In a nutshell, the prepping-up phase has two-pronged implications—increased sales and stocking up of inventory.
This story is from the January 2017 edition of Indian Management.
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This story is from the January 2017 edition of Indian Management.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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