How to improve your retail business by managing inventory
Every single retailer I have ever chatted with has overbought inventory at one point or another. This is a fact of life.
What do you do when you have too much inventory? There are three main strategies to reduce your excess inventory as a retailer.
There’s a fast strategy—most commonly associated with an inventory blowout—or there’s slow strategy—using thoughtful buying processes to plan for each season—to help you reduce some of your excess inventory.
The third strategy is the ‘ignore it and hope it self-corrects’ strategy. And that strategy never works.
Intelligent retail planning can help you run your business more effectively.
Our retail coaches have the skills needed to tackle some of the more challenging aspects of managing your store, and retailers like you are already taking advantage of our expertise.
“Before Canadian Retail Solutions, it was as though I was trying to find my way in the dark,” says Brad Leyden of Revolution Boutique Inc. “Through their insightful and personalized planning, I was able to manage my inventory much more effectively to give my business its best chance at success.”
We specialize in retail philosophy. Our objective is to provide you with useful and timely information. That’s why we built our Profit Potential Calculator and integrated it into our free consultation process.
Your new coach is passionate and insightful about leading a retail business. We inspire teams to influence their business and keep everybody focused on success. More than 25 years of client confidence is evidence for the power of our retail solutions.
Check out the video below to see how Marc tackles excessive inventory within the fast or slow strategies. Marc is one of our talented retail coaches. Contact us today to get started with your retail business, and be sure to read the rest of our testimonials on our website.