Let’s break down the hidden costs of inventory hoarding and share simple strategies to clear out old stock while protecting your margins. Have you ever looked at a product sitting on your store shelf for months and thought, “Someone will buy this… eventually.”? Lazy inventory is like trapped cash, and it’s time to set it free! What is Inventory Hoarding … Read More
How to Get Rid of Old Inventory
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
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!
Why You Shouldn’t Do a Storewide Sale!
When cash is tight it’s easy to fall into the trap of running a storewide sale. After all, what would attract customers more than “Everything is 20% off!”, right? I’m here to tell you… DON’T DO IT!!! This plan will backfire on you! Why You Shouldn’t do a Storewide Sale When you run a storewide (or sitewide) sale, you actually … Read More
Why You Shouldn’t Do a Weekend Sale
I was chatting with a client recently, and she was feeling a little panicky. Her sales were down and she told me she wanted to do a quick weekend sale. My immediate answer was “NO”, quickly adding an explanation for why it was a bad idea. Then I realized that you might not know why it’s a bad idea either! … Read More
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