Sprint to Profit

Ep.51 How to Prepare Before and After Chinese New Year to Avoid Out of Stock Inventory

Sprint to Profit
Ep.51 How to Prepare Before and After Chinese New Year to Avoid Out of Stock Inventory
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Welcome to the Sprint to Profit Podcast for Amazon Sellers. In this episode, we want to discuss a topic that often gets overlooked until it’s too late: the Chinese New Year. How does this holiday affect physical product businesses like ours? How do you plan ahead so you aren’t left with no inventory for months at a time? What can you do to make sure that your business doesn’t falter during this national holiday that happens every year?

To get some FREE training on what it takes to have a successful business to fuel your lifestyle, head to www.goteamreal.com to download our FREE training today. Also head to www.goteamreal.com/income to download your free INCOME calculator.

 

Talking Points:

  • 00:23 - Hello and Welcome
  • 01:53 - The Chinese New Year
  • 05:10 - Expectations of factories and sourcing agents during this time
  • 10:50 - Planning out your inventory
  • 14:48 - Quick decisions on getting inventory in stock (before you run out)
  • 19:20 - How to be prepared every year for important Chinese holidays
  • 21:05 - Recap and Conclusion

 

 

Resources/Links:

Important Dates: https://goteamreal.com/importantdates 

Money/Time Investment Tool: https://www.goteamreal.com/smartgoal 

Our Website: https://www.goteamreal.com/

Real Amazon Seller Facebook Group: https://www.facebook.com/groups/AmazonSellerRoundTable/

 

Quotes:

11:56 - “The BIGGEST challenge for Amazon sellers at this time is staying in stock from December to April, because you are likely not going to get a shipment in January-March unless you planned it out ahead of time.” - Isaac

20:03 - “In short, none of the other Chinese holidays really last longer than maybe a week, but it’s good to know when they occur and how much of a delay you may see especially when waiting for responses from your Sourcing Agent or factories in China.” - Isaac

04:58 - “To be fair, they work a lot. I think it’s great that they can get the time to do it.” - Kirsty, on factory workers being able to spend time with family during the Chinese New Year

15:35 - “So if you have to airfreight [stock] in, it’s going to cost you less overall than what it would if you ran out of stock for six weeks and you have to rerank your products again.” - Kirsty


Brought to you by Kirsty Verity and Isaac Kuhlman of Sprint to Profit