Tips and Insight on becoming a profitable retail store

Slow Down the Retail Race with Open To Buy!

Retail is the kind of endeavor where you never have enough time or help to get everything accomplished. Most of the problems are because of merchandise – TOO MUCH merchandise. You are constantly figuring out where to put it, how to display it, and how to sell it. And while you’re doing that, more is … Read more

Should Your Bank Account Figure into your Buying?

I’ll be the first to suggest that a full bank account is a wonderful thing! But it only has value in paying the bills and SHOULD NOT ENTER INTO DETERMINING HOW MUCH YOU BUY! Your buying needs to be to support your anticipated sales at your desired turn rates. More will only create problems. Sales … Read more

Open To Buy and Spiffs will Cut Markdowns!

Let’s face it, you’re buying by the seat of your pants. Sadly, this only creates problems no matter how talented you are at picking items. You’ll always buy too much and you’ll certainly be buying some “dogs”. Open to buy planning will help in both areas. With a solid buying plan based on sales and … Read more

I’ll try anything to get you to use Open To Buy!

If I could drop into your store and hypnotize you so you’d start using open to buy planning, you’d thank me once you were underway – just like all of my subscribers. I won’t be knocking on your door, but I hope my blog posts are knocking on your noggin. Some retailers will do anything … Read more

Guide Your Buying with Open To Buy!

Without a solid buying plan based on anticipated sales and desired turn rates – the two elements driving every retail store – you are destined to OVERBUY. Of course, you know what your customers like and you have a plan for your store, but when you are faced with unlimited choices, discount plans, dating plans, … Read more

Is OTB as simple as A+B=C? It CAN be!

Many years ago, I gave a seminar in New York explaining the open to buy process. About half way through my presentation, an attendee raised his hand and asked: “Isn’t there just a formula like A + B = C to determine your buying?” Sadly, there’s not since you want your answers (buying plan) to … Read more

Ignoring the Numbers Won’t Help Your Store!

Sure you’re busy and can’t afford the time to work with open to buy planning, but the truth is that you can’t afford NOT to. Your retail store is about selling and buying. You probably spend most of your time figuring out how to be more effective in your selling. Better promotions, better displays, better … Read more

It’s true! Retailers Succeed with Open To Buy!

All the talent in the world will not insure a retailer’s success, but open to buy will. How can that be? It’s simple really. All of your skills in merchandising, staffing, store layout, advertising, displays and customer service go out the window if you can’t pay your bills. So, cash flow is critical and the … Read more

Markdowns are NOT the Answer! Open To Buy Definitely IS.

As you well know, retailers love to buy. They never want to miss a sale, so they always seem to buy too much. If you’re doing a good job as a retailer, you will always miss some sales. If you never miss a sale, you have too much merchandise and will be missing profits. The … Read more

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