You know how easy it is. “Just one more item – or two – or three. They’re all so attractive, I know they’ll sell. I’ll just check one more booth/showroom and then I’ll leave. Or two – or three.”
Sound familiar? It should, it sounds like YOU! (And me)
We got into retail because we’re product junkies. We can’t get enough of the good stuff. But there’s a point where we have to say “Enough!” But why? If it’s really great won’t it all sell? Sadly, the answer is “No!”
Think about it – there will only be a finite amount of people shopping your store because of demographics, location, weather, competition and every other factor you can think of. So your buying needs to build the inventory you need to SUPPORT your sales, not drive them. If you look through your records you will see your sales in each department over the years has remained somewhat stable. Sure, up a little, down a little, but basically stable. If you overbuy, you’ll have excess invoices, markdowns and cash flow problems.
Open To Buy planning will limit your buying impulses to what you NEED. When you stay within your plan, you’ll still see sales growth (driven by your store environment, personnel, advertising, displays and item selections), but you’ll also see growth in your bank account. Open To Buy planning FORCES you to be a better item selector and better items in the right QUANTITIES is a formula for success.
One way off the couch, is myotbplan.com. It’s easy, accurate, affordable, accessible online from any device, supported 10/7, guaranteed to improve your buying, inventory position, turnover and cash flow and carries no contract. You can’t lose.
Overbuying can be a distant memory as soon as you get underway with myotbplan.com. Let’s talk!