Have you ever asked yourself, “If I buy more inventory, won’t I sell more?” Today, we’re unpacking this myth with inventory insights from Alana Turner, the owner of Poopsies, a thriving multi-million-dollar retail store in Galena, Illinois.
Spoiler alert: Less inventory can lead to more sales! Keep reading.
https://youtu.be/dBsDrTd76i0
From College Job to Retail Success
Alana’s journey to retail success wasn’t planned. A college job for extra cash unexpectedly paved the way for her to own Poopsies, a unique store with a heartwarming backstory.
Poopsies isn’t just a store; it’s an experience. Located in Galena, Illinois, it offers:
- A prime spot in a historic tourist town.
- A spacious layout after doubling its size in 2023.
- A thoughtfully curated inventory that feels like a “treasure hunt.”
Inventory Insights: Why Less Can Be More
When Poopsies expanded its space, Alana made a bold decision: not to double the inventory. The results? Remarkable:
- Customer Satisfaction: Shoppers now describe the store as calm and inviting.
- Higher Sales: Sales rose by 12%, even with 8% less inventory.
- Simpler Decisions: Fewer options make it easier for customers to choose and buy.
Why Fewer Options Work
Research like the “Paradox of Choice” shows that too many options can overwhelm consumers. Poopsies embraced this concept by:
- Offering 2-3 choices per product instead of 5-6.
- Creating a streamlined shopping experience.
- Driving sales through a more focused, curated inventory.
Use Poopsie’s Inventory Insights
Reducing inventory can feel risky, but science-backed strategies make it effective. Here’s what worked for Poopsies:
- Focus on Best Sellers: Always keep popular items in stock.
- Emphasize Depth Over Variety: Stock fewer styles but in deeper quantities.
- Curate Thoughtfully: Choose items that enhance the store’s “treasure hunt” feel.
These steps helped Poopsies free up cash flow for better investments, reduce clutter and improve shopping experiences and enhance profitability through intentional stocking.
Key Takeaways
Alana’s experience offers valuable lessons for other retailers:
- Embrace “Less is More”: Avoid overwhelming customers with too many choices.
- Create Memorable Experiences: Design your store layout to tell a story.
- Double Down on What Works: Keep best sellers in stock and avoid overstocking.
Millie Step to Transform Your Store
Want to try this approach? Here’s how to get started:
- Analyze Your Inventory: Identify best sellers and underperforming items.
- Reduce Variety: Test simplifying product options in key categories.
- Design a Curated Space: Focus on intentional displays and thoughtful selections.
Connect with Poopsies
Feeling inspired? Follow Poopsies for more retail inspiration:
- Instagram, Facebook, TikTok: @PoopsiesofGalena (Make sure to spell it right!)
- Website: poopsies.com
If you’re earning multiple six figures and ready to hit seven like Alana Turner, join the Millie Club and watch our free class: 3 Steps to Maximize Profit & Reduce Overwhelm.
Not there yet? No worries! Check out our free training: How to Increase Your Sales So You Can Consistently Pay Yourself & Your Staff. Let’s help you build the business and life you’ve always dreamed of!
💡Want even more tips? Join our Richer Retailer Facebook Group to connect with ambitious store owners.
Remember, your store has the power to add joy to the world and so do you. Keep thriving and know that you, too, are astonishingly fabulous!