First, pat yourself on the back. I know that looking at reports can be confusing …. and frustrating. There is no shortage of numbers and data to access, the problem is knowing what to do with it. By completing the RETAILMavens Richer Retailer Vendor Scorecard you are taking action towards a successful season, and improved cash flow, and THAT sets … Read More
By doing the RETAILMavens Vendor Scorecard, you are listening – not just listening, but hearing – your customers’ needs and wants.
To make the best decisions possible when going to market or placing orders for an upcoming season, you need to come prepared. Of course you’ll want to have your Open To Buy plan (OTB) which tells you how much you should be spending on new inventory, based on your sales history and projections. But your OTB plan is only one … Read More
One Way To Make Your Life Easier My goal is always to make your job easier and point out ways that you can do something once and re-use it! I know how many hats you wear and how much you have to do. I like to call this a “Rinse and Repeat”. Who doesn’t love that? Let’s dig in! … Read More
Marc Weiss, Principal at Management One, recognized that those odd 5 toed shoes from Vibram were becoming a hot trend. He quickly advised all of us consultants about it so that our clients could jump on it. At our national conference this week, he shared the story that one of those clients had taken action and had generated over $1,000,000 … Read More
As an indie retailer, doesn’t it seem like you are always buying? I get asked so often, “How do I know for certain how a vendor is performing for me?” It is easier than you think to measure vendor performance. There are 5 steps to take. They can make all the difference. Every time I have clients do this exercise, … Read More
Today’s article is a little different in format. I was asked this same question by 4 clients in the last week. So I’m sure you have struggled with this too. I am including a series of emails between a client and myself about how she negotiated with her vendors. Have you had this same conversation with a vendor? Tell me … Read More
It is trade show time again. It’s time to start placing orders for the next season. It is a time filled with hope and possibility. Buying is the reason you opened your store in the first place, right? There is one thing that you must do before you go.
At this time of year, you don’t want anything to get in the way of getting the inventory you need RIGHT NOW! Whether your store or ecommerce website has been in business for five months or five years, when you ask a product vendor for payment terms, they will want to check your credit history. This practice is not only … Read More
Do you want to get the VIP treatment from your vendors? I have great tips from insiders to get better deals and terms than you would have before! Clients are always asking me how to work best with vendors – and I have seen how some stores get better treatment than others. I wanted to find out the secrets to … Read More