Tips and Insight on becoming a profitable retail store

Are Items or Quantities more important to your Buying?

A long time ago, I coined the phrase, “Buying the right items brings in the customers, but buying the right quantities brings in the profits.”  And, of course, it’s still true.  Most retailers have little trouble finding great items to fill their stores and enchant their customers.  You know your customer, their tastes, their buying … Read more

Is Buying Art or Science?

That’s a topic that has been debated for many years. Most retailers would tend to line up on the “Art” side of the fence because they are more creative people and feel if they buy the right items all will be well. But even so, it’s somewhat of a defense mechanism to rationalize not doing … Read more

When your OTB is purring, your store will be roaring!

It’s really pretty simple. Everything that happens in your store boils down to your buying. Buy the right items in the right quantities and you’re going to be a rousing success. Buy the right items in the wrong quantities and you’re going to be behind the 8-ball. Even if you buy the right items, you … Read more

Talking about retail and Open To Buy is pure fun for me!

I consider myself to be much more of a teacher than a sales person. I guess if it was the other way around I’d be a lot wealthier. While pushing retailers into signing up for my system is very uncomfortable (even if it’s for their own good), helping them once they have become subscribers is … Read more

Your Open To Buy Plan – Don’t leave town without it!

You are about to be tempted, romanced, encouraged, brow-beaten, threatened and sold (not necessarily in that order).  Anything you imagined will be at the show and it will be hard to pass up any of it – but you must if you want to survive.  You must have a plan to guide you through the … Read more

Saddle up for profits in 2019!

Well, pardners, the new year is off and running and you need to be on your horse trying to reign in all the profits possible. Sitting around the barn is not an option. You need to be out riding down every chance to raise your profits. Before you jump on that horse, you need a … Read more

Let OTB be your Key to Success in 2019!

The key to retail success is Turnover. The only way to control your turnover is with Open To Buy Planning. Without it, you’re just guessing about HOW MUCH to buy. Guessing never works, so if you want to stop taking endless markdowns and being buried in excess invoices, now is the time to get on … Read more

Don’t Read This! Get back on the sales floor.

Right now is your prime time. I know that – you know that! Of course I want you to read what I write AND respond, but now you need to be on the floor showing your staff how it’s done. No one know better how to woo a customer than you. No one knows better … Read more

Knowing How Much to Buy is the best gift of all!

Retailing can be a dream come true or a nightmare. For most retailers, it’s a nightmare because they spend most of their time correcting buying mistakes. Buying mistakes lead to unsold merchandise and markdowns. To move this merchandise, customers are encouraged to buy at reduced prices. Reduced prices offer no contribution to overhead and eliminate … Read more

Right now, all retailers can think about is selling!

But your crazy, busy season will be ending all too soon and it will be time to – once again – think ahead to the coming seasons to be sure your incoming merchandise will be right to support your expected sales and give you the turnover that will enable you to keep your markdowns to … Read more

Avoid the “Oops!” with Open To Buy.

We all love to buy! It’s easy and all the reps are so encouraging. They want us to never miss a sale so they suggest we buy MORE. If everything in life could be this simple. Finding great items for our store and ordering it from our good friends. When the merchandise comes is, we’re … Read more

Don’t Give Away Your Profits!

With all the discount madness going on to drive customers to your store or your site, you want to make sure that at the end of the season you wind up with a profit – and a large one at that. It’s not going to happen if you are marking down regular priced merchandise to … Read more

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