Predicting the New Year

Retailers, while not acclaimed fortune tellers, quite often are asked to predict the future. How much inventory must be purchased to meet demand? Will markdowns be required? How will the new selling year fare? Without proper analysis of your financial situation, these predictions are nothing more than uneducated guesses. Instead, retailers must perform a thorough [...]

Open to Buy Planning

The formula for open-to-buy (OTB, a financial budget for retail merchandising) planning is not difficult. To start, look at planned sales. Where do they come from? Most independents get into trouble right out of the gate, by getting this segment of the planning process wrong. A common, albeit incorrect approach, is to plan monthly sales [...]

A New Year’s Retail Resolution

Every merchant should resolve to sell more merchandise more quickly each and every year.

Retailers See Positive Signs in Higher Than Expected October Sales

Data released shows total retail sales increased 6.7 percent unadjusted year-over-year.

Small Businesses and Retailers Still Focused on Recession

Economic sluggishness is impacting entrepreneurs: 27 percent (up from the spring) say they do not plan to grow in the next six months.

Pinpoint Pricing Problems

With the correct pricing structure, you will keep customers happy. Charging too much will turn business away, while too deep of a discount could hurt your bottom line.

Walmart Moves To Recapture Sales

Independent retailers received a brief moment of happiness when big box retailer, Walmart, fell victim to economic hardship, helping to even the playing field for the rest of Main Street USA. For months, local discount stores and mom and pop shops have been witness to the fact that even the industry bigwigs aren’t immune to [...]

You Want Fries with That? Retailers Profit from Suggestive Selling

Suggestive selling not only works, but can add significant percentage to store sales volume and margin.

The Truth About Markdowns

Understanding markdown truths and employing sound markdown management should help turn markdowns from a negative part of business into a positive.

Is Your Initial Markup Enough?

Having the correct initial markup is the cornerstone to achieving desired and maintained markup. What are the determining factors for initial markup?

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