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Education

Taking advantage consumers were unable to get a product due to shortages,
and Accenture reported 75 percent of companies felt
of seasonal sales negative business impact due to supply chain disruption.
These numbers indicate an overall frustrating truth: it
is difficult for businesses to get what they need, which
trends means planning ahead is more necessary than ever.

In instances where shipments are delayed, or sometimes
don’t show up at all, stores are forced to keep their shelves
empty. According to interviews done by CNN, https://cnn.
it/3RUU5vu, the pandemic, weather and lack of truckers
have all contributed to supply chain disruptions. This
highlights the importance of knowing what retailers need
and acting quickly to ensure smooth operations.

Help retailers beware
It goes without saying that retailers should not be receiving
expired products from wholesalers. As a service provider,
you can remind them it's important to check each product
received from wholesalers before selling them to ensure
that supply chain challenges on their end haven't caused
them to substitute products that might be closer to their
By Elie Y. Katz expiration date than usual.
National Retail Solutions
Also, if you serve retailers in the same niche who are
o thrive as a payments professional, it's essen- having success with a new type of product, consider telling
tial to understand the needs of the merchants them about the product so they can see if their wholesaler
you serve. One critical retailer need is to be able carries it. Having a fresh and updated inventory can be a
T to identify and utilize seasonal sales trends. In good way to increase foot traffic and online sales, which
this article I will highlight the importance of proper plan- brings in more revenue.
ning based on seasonal fluctuations to maximize sales and
profit. Be a trusted adviser
Also, new items sell better if retailers spread the word
A key task in this endeavor is to identify what is selling about them. This requires marketing, which can take
best, and when. Some products are seasonal or holiday- various forms. Suggest that retailers ask their wholesalers
based. We generally assume, for example, that chocolate for photos and product descriptions they can use in email
and candy are popular around Valentine’s Day; warm blasts, social media posts and other forms of marketing,
drinks are more popular in the winter months; ice cream as well as for updating their websites. Depending on their
is likely to sell out more quickly in the summertime. POS system features, they might be able to add promotions
Take advantage of POS systems to their transaction receipts, as well.

To validate these commonsense assumptions and discover The most effective merchant services providers are those
less obvious trends, encourage store owners to utilize their who act in an advisory capacity. Knowing seasonal
full-featured POS systems to track inventory and identify sales trends for your merchant niche and helping them
sales trends and employ features that will enable them to plan ahead for any supply chain disruptions can be a
identify consumer product and payment preferences. tremendous help to them. Why? Because these trends are
important for maximizing profit and making customers
Utilizing the latest digital technologies, retailers can make happy, and planning ahead can help your retailers avoid
informed decisions and invest in the right products at the inconvenience, and even hardship.
right times rather than invest in inventory that won't sell
well. State-of-the-art technologies will also help merchants Delays are happening around the country, which means
place orders in a timely manner rather than at the last being prepared for the worst. Do not let your merchants
minute, which will help ensure the arrival of goods when wait until the last minute to order or ship products. And
they are in demand. remember, advising your customers on what to sell can
benefit you and them.
Deal with supply chain problems
Elie Y. Katz is founder, president and CEO at National Retail Solutions
According to the Supply Chain Planning Blog, https:// (NRS), https://nrsplus.com. Contact him by phone at 201-715-5179 or by
bit.ly/3RVc5Wn, Gallup recently reported 60 percent of email at ekatz@nrsplus.com.

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