By Jennifer McLaughlin

What retail store owners should know and expect for the 2014 Holiday Season

As many of you are aware, Walmart has just released its “2014 Chosen by Kids Top 20 Toys List” last week. While many other big retail stores are gearing up to announce their top picks and lists soon, we all may be wondering, is it TOO early to worry about the oncoming Holiday season? According to the experts, no! Many retailers may already be late to the party.

Nick D’Alessio, Global Retail Practice Leader at Zebra Technologies stated in last year’s ’Tis the Season of Retail article posted by Supply & Demand Chain Executive “Companies need to plan ahead and spend the time reviewing their past sales data during the holiday seasons, and create a sales plan with an inventory strategy. Responding to a sudden demand increase in the middle of the holiday season can be devastating, especially when out-of-stocks occur. This can create lost sales/revenue that you cannot recoup. If the products are commodities, do you have second source suppliers that you can diversify and spread your demand across? If they are specialty items, have you negotiated supply allocation replenishment terms with your suppliers? The point here is to start planning before the holiday season arrives—not during.”

So when should retail outlets begin stocking their back room inventory? Many industry leaders suggest six to eight months ahead or earlier for effective planning and a successful holiday retail program. Generally speaking, the earlier, the better. For a smooth holiday sale season, retailers need to plan out their strategy well before the holiday commercials begin to run on television.

While September seems like its too early to think about Christmas (Halloween and Thanksgiving haven’t even passed yet!), many store owners have been thinking of the approaching holidays and have been executing effective inventory planning since at least April or May. But, have no fear, it is not too late to get those must-have toys and gear into your store. Big players Target, K-Mart and Toys R Us have yet to release their lists and Amazon.com doesn’t plan to showcase their Holiday Toy List until October.  

For great ideas on what toys and kid gear your store should carry, check out these lists.

The Toy Insider - Holiday Guide: Hot 20 and Top Tech 12
Toy of the Year Awards 2014
Kmart - The Kmart Fab 15 ultimate list of hot holiday toys