The eJuices.co team is working around the clock to make sure that your vape shop will be successful. Today, we’ll be talking about how much inventory you should keep on your shelves. You don’t want to have empty shelves or so much inventory you can’t move, so we’ll talk about what you can do to strike a perfect balance between the two.
Keep Track of Sales
It goes without saying, but you should always keep track of your sales. Is that hot new eJuice flying off the shelves? Can’t move a certain product? If you have a social media presence, ask your customers what their favorite eJuices are, or you can even ask what they’re vaping once a week to find out what’s popular and what isn’t. Alternatively, you can also check outwhat’s selling best around you. Vape shop owners in Texas, for example, may have completely different top sellers than vape shop owners in Ohio.
Use Social Media
A social media post asking your customers to take pictures of what they’re vaping could be a great way to not only find out what’s hot and what’s not, but also a prime opportunity to interact with customers and provide excellent customer service beyond the purchasing experience. Building a strong social media presence can indirectly influence your inventory needs—if you see certain products trending in your area, you can also use this to make astute purchasing decisions.
Maybe you can’t move a certain eJuice or hardware, but the attraction of lower prices or bundles can help you clear inventory and find out what is popular. Maybe someone is new to vaping and wants to find out what they like to start off their vaping experience. Try bundling a starter kit with the appropriate hardware and an eJuice bottle to get someone started!
If you want to get creative, you can also bundle eJuices within the same brand (i.e. Beard Vape Co. bundle) or the same flavor profile (i.e. dessert eJuices). Everyone likes a good deal—the same mantra also applies to vape shops. This will help you push lower-selling inventory out the door alongside some of your more popular offerings.
Set Up a PoweredBy Store
During COVID-19, your shop may not even be operational unless you’re allowed by law to do curbside pickup or delivery services. There is a way to keep operations going, and you don’t even have to leave your own home to do so. You can always set up aPoweredByeJuices.com store to make sure that your revenue keeps coming in during COVID-19. You don’t have to worry about inventory or shipping to your customers—just use our inventory and we’ll take care of the rest.
If you’re experiencing inventory issues during COVID-19, you can use Behalf to purchase inventory. You can then sell the latest vape products and turn a profit before your first payment is due with Behalf’s 60-day same-as-cash program. There are credit terms as low as 1% and you can make use of other payment plans available. To use this option, you can contact your eJuices.co account manager or sales representative to get started.
How Much Inventory Should I Carry?
In the end, it all depends on factors such as foot traffic, monthly sales, your cash flow, and now more than ever, online sales. While it will be different for everyone, you can always contact your eJuices.co account manager or sales representative if you have any questions or concerns.