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
The 3 Keys to “Clear it Out” Cash Flow Nirvana
Do you know The 3 Keys to “Clear it Out” Cash Flow Nirvana? 1. There’s no crying in retail. Every once in a while, you may find that you made a mistake in your buying. Maybe you reordered just one too many times. Perhaps you ordered something in 3 colors and one was just plain ugly! You might have ordered too … Read More
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