Keep Calm and Buy With Confidence
It is a new year and I hope one of your resolutions is to get on a PLAN that will grow your business to new levels of success in 2015.
There are no guarantees in retail; we live in an industry riddled with risk, immense fear and an underlying insecurity. Every retailer faces questions like: Did I buy too much inventory? Did I buy too little inventory? Did I buy the right inventory? And of course, how am I going to pay for all this inventory?
The only remedy for these insecurities is a retail merchandise plan – a plan that will lead you by classification! When you go into a buying session with the knowledge of what your customer wants by classification we can eliminate most of your fears. Knowing how your store is performing today AND how it will perform tomorrow, by classification will not only give you some confidence to buy the right things it gives you the power to NOT buy the wrong things.
The key is to recognize how your customer is VOTING (with their credit card) in your store AND then respond accordingly. If shirts are trending up, we need to feed that classification. If denim is trending down, by season, then we need to buy differently AND the vendor has much less to do with this than the classifications does.
If you want to learn more about Classifications and how Retail Merchandise Planning will help grow your business to new levels of success in 2015, contact us or give us a call at 1-800-725-6810!
Dan Holman is a certified Winning@Retail™ consultant with twenty-plus years of success in diverse business development, new ventures, business expansion and strategic sales planning.