How to get rid of old inventory? This was a question that came through in our retail community, and it is a great one that highlights a situation many store owners find themselves in: How do I get rid of old inventory with enough profit to purchase new inventory and keep my customers coming back for new, beautiful merchandise? SO … Read More
The Magic Inventory Formula
Are you looking for the magic inventory formula that will finally solve the challenge of having the right amount of inventory in your retail store? “What’s the magic formula for how much inventory to carry and order?” This was a recent question in our retail community. Don’t you wish there was a magic formula that everyone could use to have … Read More
How to Predict Inventory Needs
One of the best questions you can ask as a retail store owner is “how to predict inventory needs?”, because your inventory is your biggest expense – and so learning to control it results in a huge return on your investment. That’s why I get so excited when I get a question like Elizabeth’s: I’m just getting started, but I’m … Read More
Strategic Inventory Management: Unlock Sales Growth with the Freshness Factor
Truth bomb: You can’t grow sales with old inventory! Use the Freshness Factor formula to manage your inventory and unlock sales growth!
2 Important Customer Types in Retail
There are 2 important customer types in retail that you should pay attention to the most. Because once you understand these two customer types, you’ll be able to execute marketing, store events and promotions that serve each type the best – which leads to more sales and profit for you. When I share these two types with store owners, I … Read More
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