Olympic Eyewear has compiled research about how retailers sell their end of season wholesale sunglasses inventories. The results are compiled below and include a wide variety of processes, which can be customized to fit individual retailers.
- Forecasting – Olympic Eyewear forecasts the latest trends just before the season begins. This allows retailers to not purchase items more than six months ahead, as forecasts can be tricky, unexpected and very unpredictable. In fact, consumer trends can drastically change due to the economy and it is important that retailers not purchase excess inventory, as this substantially affects profits. Large companies can plan their inventories, moving them during certain periods and having contingency plans for clearing old inventories and making room for new seasonal inventories. However, small retailers have more difficulties accomplishing these plans because they do not have the tools, resources and insight for managing and forecasting inventory far in advance. They also do not have the budget to accommodate difficult times.
- Sales – The most common way retailers make room for new sunglass lines are to offer clearance and seasonal sales racks. These sales often begin mid-season, helping to guarantee there will not be an excess of inventory come the end of the season. Each retailer has different policies how often and which products are marked down. The substantial benefit retailers have when purchasing wholesale designer sunglasses from Olympic Eyewear is that they can mark down the prices to reflect any price they desire. Many big retailers, such as Saks Fifth Avenue, have to obtain permission from the retailer's branding image to write off significant sales, which can be a hassle. In fact, there are many brands that have very strict markdown policies to help maintain a rigid pricing standard. If the retailer does not comply, the brand has the right to take the inventory back from the retailers. This will never happen with Olympic Eyewear.
- Full Price – Generally, in-season products are sold at 80% of full price, while 20% is sold at discounts.
- E-Commerce – E-Commerce platforms can help sell seasonal discount items. These items can be further discounted on coupon websites, such as Groupon, Brad's Deals and many more. This can help attract customers from a wide venue, including different cities, states and even countries. This can greatly reduce excess merchandise by exposing inventory to a wider audience. When considering an E-commerce platform, look for the following:
- Site Speed
- Secured framework for E-commerce website launch
- Responsive online store
- Online marketing support
- Payment gateway and logistics
Olympic Eyewear specializes in selling cheap sunglasses in bulk to retailers. Their website features the latest styles, fashions and name brand sunglasses.