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The holiday rush has come and gone, and the new year is just days away. Thereâs no better time to think about refreshing your wholesale catalog. How will you bring your brand into the new decade? You may already have some goals in mind about how to expand or edit your line in the new year, but if youâre looking for inspiration, Faire can help. Here, we compiled some expert tips to consider when updating your catalog in 2020.
Look ahead to 2020 trends
The National Retail Federation released 2020 trend predictions this month, and itâs clear that consumer consciousness will be big in the new year. Some of the buzzwords weâre seeing? Sustainability, health, wellness, diversity, and inclusion. Now more than ever, consumers crave an emotional connection to the products they purchase. âWe now have a consumer that isn’t about packing the closet full of stuff, but is trying to understand what is most meaningful to purchase,â says Susan Reda, editor of the NRFâs STORES Magazine.
Evaluate ways that your brand can authentically incorporate some of these trending ethos. The emphasis here is on authenticityâanyone can be on trend, but for it to be meaningful, your motives and messaging must be authentic. If youâre going for sustainability, start by looking at your supply chain. If health and wellness are your mission, revisit your ingredients. According to the NRFâs analysis, half-hearted attempts at clean, sustainable products wonât cut it in 2020: âItâs not just about marketing, itâs about reflecting that storytelling across the business.â
Reflect on 2019 learnings
So, what story is your brand telling? Take a moment to reflect on your best-selling products from 2019. You can use the Analytics section of your Faire portal to easily identify products with the best sell-through. When reviewing this data, think about any common themes that unite your top sellers. Was there a clear narrative that resonated with your buyers this year? Maybe it was your fair trade items that sold best, or your organic product line. Use this information to thoughtfully add to your catalog and update your marketing.
Consider the flip side of that coin too. Were there any products that didnât sell well, or that had high returns? Editing your catalog can be just as powerful as adding to it. If you have colorways or designs that werenât popular this year, it may be time to discontinue those styles for next year.
Consistency is key
Once you determine what your line will look like in 2020, youâll need to ensure all of your sales channels are up-to-date. You may use a variety of methods for sharing your wholesale catalog: password-protected websites, paper catalogs, digital linesheets, and (our favorite!) Faire. Itâs key to be consistent across all of these channelsâin both price and product offeringsâso that your retailers can always find what they need at the price theyâre expecting.
Timing matters too. Whether you release new products in biannual catalogs or in small seasonal batches every few months, make sure any seasonal merchandise is available at least two months in advance of a given season or holiday. For example, if you have any Valentineâs Day products, youâll want to make sure those are available on Faire now!
