For Christmas and New Year, order your packaging between October 1st, 2020, and October 31, 2020, to guarantee on-time delivery for the holidays!
The holiday season is quickly approaching.
Is your packaging supply ready for the holiday rush?
OK – don’t panic.
Actually, maybe panic a bit.
No need to panic. we’re here to help, so lets get started from the basics.
When Is the Latest Day to Order Holiday Packaging?
Let’s cover the most important facet of planning your holiday packaging first — deadlines.
Here we outline the number of weeks in advance you should be ordering your packaging packaging to ensure you get your packaging in time for each gift-giving holiday:
- Thanksgiving (Black Friday & Cyber Monday): 4 – 8 weeks
- Hanukkah: 5 – 8 weeks
- Christmas: 6 – 10 weeks
- New Years: 6 – 10 weeks
- Valentines Day: 10 – 12 weeks
- Easter: 5 – 8 weeks
- Mother’s Day: 4 – 6 weeks
- Father’s Day: 4 – 6 weeks
Based on this, we recommended ordering your packaging by October 16 for most packaging orders to ensure your holiday packaging arrives on time. Don’t forget that even after your packaging is delivered to you, fulfillment and delivery centers may add an extra week or two to the customer delivery timeline.
What Is Holiday Packaging and Do You Need It?
Holiday packaging is packaging that is customized to reflect the festive spirit of the holidays.
When consumers are shopping for gifts for holidays, you can be sure they are looking for items that are #readytogive.
From Christmas to Valentines Day, specialized holiday packaging transforms your product into a meaningful gift. Change up your packaging to turn your everyday product into a precious, ready-to-deliver gift by just altering its packaging to fit the holiday.
For many businesses sales generated from holidays can account for more than 50% of their annual sales volumes, so it’s safe to say that the holidays are kind of a big deal.
What better way to capture their attention than to have festive packaging?
Estimate Your Annual Sales Expectancy
Not sure how much packaging you need?
Depending on how great your product fits as a gift, your packaging needs during holidays can spike by over 80% higher than a regular period.
Let’s name some contributing factors.
How much exposure does your product have now and how will you be ramping up sales during a holiday? Will you push out a special promotion, or come out with a special or limited edition product?
How much will you be spending on marketing and what channels? What kind of customer engagement levels do you anticipate?
Forecasted numbers can be hypothesized through historical data or by adding a multiplier to your regular sales volumes.
For example, if you anticipate spending 30% more in marketing dollars to get 50% more customer engagement and are releasing a limited edition product expected to drive a 30% higher demand, you can multiply these increases to your regular sales volumes to get an anticipated holiday sales expectancy.
We recommend ordering at least 20% more than your sales expectancy. This way, if you overachieve, you’re covered and if you don’t — that’s okay. You have some packaging ready for the year to come.
Breakdown Your Budgets
We briefly touched on your marketing spend, but what about product costs, fulfillment costs, shipping premiums during the holiday times?
Budgeting correctly is key to having a successful holiday turnout.
Expect to increase your marketing spend for a higher-than-normal sales conversion rate during holidays.
Product parts and labor may have higher costs during times of demand, so anticipate slightly higher costs in this department as well.
Fulfillment and shipping centers are both busier during this time as well with so much gift-giving happening through deliveries now as well. In fact, shipping rates can increase by over 80% when compared to rates during non-holiday seasons. This is caused by increased demand and less availability.
When budgeting for your packaging, consider the per-unit margin over your total product cost including all aforementioned expenses. Keep in mind that your packaging can add value to your product and may very well pay for itself in that regard.
Using chocolate again, let’s compare these two packaging examples. How much do you expect to pay for each one of these savoury chocolate products?
Never stop learning and improving your products.
Learn and get inspired from businesses that have had tremendous success in their holiday packaging. The truth is effectively packaged products can tremendously affect your holiday sales.
Consumers often begin purchasing products in order to collect the special edition packaging, or share it on social media.
This can especially be true for businesses that utilize packaging as part of their product.
Thanks for reading and best of luck on your holiday sales!