Tips and Insight on becoming a profitable retail store

Headed to a Trade Show? Don’t forget your OTB Plan!

Working a trade show should be just that – work! It’s not a time for fun or special meals or gatherings. Those things are distractions and usually intended to buy your allegiance to a vendor. Retain your independence and spend a lot of time learning what’s available before you commit your dollars. The harder you … Read more

A Parable with a Moral.

THE PARABLE Once upon a time in a town just like yours there was a retailer just like you. He loved to buy and had the ability to select terrific merchandise. He thought he had a “feel” for quantities, but always seemed to overbuy. He was offered so many deals, discounts and dating plans that … Read more

A+ B + C = OTB?

Many years ago, I was giving a seminar in New York on open to buy planning. Part way through the presentation, a woman put up her hand. Her question was: “Isn’t there a simple formula like A+B+C that will give you a buying plan?” I told her that if there were, we wouldn’t be here … Read more

Open To Buy will change how you view your store!

Too many retailers go about their busy day with little thought as to if their store is paying off or sucking them dry. There are so many things to accomplish each day and so many fires to put out that it’s only when the reality of not having enough money to pay the bills hits … Read more

Comfortable Shoes and Open To Buy for the Trade Shows

It’s time to make plans for the trade shows. The two most important items you’ll need are comfortable shoes and your open to buy plan. Lucky for you, is online and totally accessible from your computer, tablet or smartphone. Comfortable shoes are a must since walking the show floor and SEEING EVERYTHING BEFORE YOU … Read more

It’s not your merchandise, it’s your MONEY!

As you look around your store do you see a rainbow of colors? Or do you see GREEN? Let’s hope you see green, because it’s not merchandise you see, it’s your MONEY! You’re a merchant and you love your store and your customers and your merchandise. And that’s all good. But as we all know, … Read more

Tune in this Thursday @ 8 PM EST for Tom & Mort & OTB!

Tom Shay of Profits Plus Solutions will host a conversation with Mort Haaz on Thursday, June 21st at 8 PM Eastern time for a discussion of inventory control and open to buy planning.  We will be talking for about an hour and Tom will be picking my brain and offering his knowledge on all aspects … Read more

Open To Buy will help you Forecast the Future!

What? No one can see the future, but an open to buy plan can help you forecast your future merchandise needs. It will also enable you to adjust your forecast as you get closer to those dates based on trends that will be shown. Since your vendors require orders that are placed far out into … Read more

If your Open To Buy was a DOG, would you ignore it?

We all know that dogs are wonderful, even though they require a lot of maintenance. But they’re worth the work because of the benefits you receive. Of course, you have to make sure they’re fed and have plenty of water, and you have to walk them and pick up after them, and you have to … Read more

Open To Buy will insure your store supports YOU!

You put out a lot of money to open your store. Money that bought your leasehold improvements and store fixtures. Money you spent on promotion and displays. And of course, money you spent on inventory. Now you should be done spending. But most retailers continue to put more money into their store to pay bills … Read more

Merchandise With Both Sides of Your Brain!

You got into retailing because of your creativity. That makes you “right brained”. Certainly you’re in the right profession to use your talents in terms of establishing an attractive environment in your store, choosing great items to fill it, doing enticing displays and, of course, making your customers want to come back often. Wouldn’t it … Read more

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