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
Retail Tip: Go Big or Go Home!
Here’s a retail tip for you: GO BIG or GO HOME! It’s my retail mantra! Actually it’s my life mantra too. Usually associated with NCAA basketball time and March Madness, it also accurately describes entrepreneurial life… All these teams get ONE shot. If they lose – they go home. If they go big, they advance. For you, to advance means … Read More
Merchandise Planning Process: Make a Retail Plan in 10 Mins!
Use this merchandise planning process to create a retail plan in 10 minutes! Yes, it’s true that inventory planning can be a pretty complex process, which is why we provide this service to our private clients using Management One’s formula and algorithms to predict a store’s merchandise plan with 93% accuracy. Inventory management is the second step of our Sales … Read More
BEST Inventory Management Software for Retailers
The best inventory management software for retailers (also known as Point of Sale Systems – POS) allows you to collect data so that you can reduce mistakes, improve your profitability, and so that you can know what to buy, how to make more money, and how to serve your customers better. Your inventory is your biggest retail asset and it’s … Read More
Get Out of a Sales Slump
Are you in a sales slump? No doubt you’ve spent the extra time cleaning up and re-merchandising your store, thinking that eventually your sales will pick back up, right? Except they don’t. Your sales are down and your store is full of great in-season merchandise. Your knee jerk reaction might be to throw a sale. Because a good sale will … Read More