Retailers all want their stores packed with great items. And so they buy everything that appeals to them that they think will appeal to their customers. Will this lead to a positive bottom line? Nope!
Every store needs to have an OVERALL plan, not just great items. Too much of a good thing is a bad thing. So you not only have to have great items, you have to have them in the right quantities in the right categories at the right time. If you exceed those parameters, you have markdowns and cash flow problems.
The answer is open to buy planning. Based on your anticipated sales and desired turn rates (the two elements that drive your store), open to buy will develop a buying plan in each merchandise category for each month for the next 12 months. Buy within that plan and you will have great items in the right quantities at the right time. Anything else is guessing and will lead to problems. Sure guessing is easier and more fun, but if you want to make money you need open to buy planning.
myotbplan.com is the best open to buy system available! It’s easier, more accurate, more accessible, better supported, the only one that’s guaranteed and has no contract. You have nothing to lose and so much to gain. Call 310-829-5148 today with your questions at or just fill out the no obligation Subscribe form online and we’ll call you. Why wait?
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