We are in uncharted waters, so updating your open to buy this month and next will be different from usual (if you have an open to buy – and you should). Since you were closed some or all of the month, even if you were selling from your web site or have an online presence, … Read more
I’d really love to be able to solve all of your problems – and they are many right now – with a simple solution. Social distancing is making everything more difficult, but if it saves lives it’s well worth it. In the meantime with low traffic – or none – you may be working online … Read more
As the Covid-19 virus continues to get weirder by the day and toilet paper is the new gold standard, you still need to let your customers know you are open and anxious to serve them with the latest and greatest merchandise… to say nothing about the incredible service they’ll get just by crossing your threshold. … Read more
Every day, the news is worse. There’s no escaping the fact that we’re going through something that is BAD, BAD, BAD and getting worse. Forget about buying on “instinct”. You need a tool to insure your bottom line whether sales are improving or declining. You need “open to buy” planning. You need a system that … Read more
I used to tell my customers to be a little conservative in their buying because “they can always get more!” Well, that’s no longer the case because of the Coronavirus disruptions. So, what do you do? Go hog wild? Definitely NOT! If the spread of the virus grows as anticipated before prevention is a reality, … Read more
The Coronavirus is no longer a foreign problem, it’s now a domestic one as well. But even if it was only in China, it’s causing disruptions in commerce all over the world. Your suppliers are slowing down, transportation is suspended and it just gets worse as the news comes out. We are fortunate in the … Read more
Is it really that simple? Just have a buying plan that keeps your inventory as low as possible to support the highest sales? Whatever will happen to markdowns? Can retailers live with making money? Of course, I’m being a little facetious, but let’s face it, retailers kick and scream about low turnover, markdowns and cash … Read more
It seems that in life, most things are 80/20. 80 percent work and 20 percent reward. And that’s OK since we generally enjoy the work that brings us to the reward. One place where 80/20 does not work is retail. Too many retailers do 80 percent of their business with 20 percent of their inventory. … Read more
When your open to buy is online, it’s ready to guide you whether you’re at a trade show, a merchandise mart or in your office with a rep. You should be able to access your figures on your computer, tablet or smartphone. That way, you save trees because you don’t have to print reams of … Read more
NONE! You’re probably ready to stop reading, but hang on. Think about it for a moment. While reports are great, they are really autopsy information. You don’t want to know why your store died, you want to know how to make money and grow. Since your entire business revolves around your buying, it only makes … Read more
Retailing is very much a creative process. Take your location, make it enticing, coddle your customers, offer great items and you’re sure to succeed. What? It’s not that simple? Of course, it isn’t. It’s all about control. While it’s fun to go wild with your buying, it can have disastrous effects. Too much of a … Read more
There are a ton of retailers and a lot of trade shows. There are organizations who go to the shows, put on seminars and cocktail parties to try to get you to sign up for their open to buy systems. We won’t do that because we’d have to work the cost of all that into … Read more
By filling out the form below, you are merely indicating your interest in becoming a subscriber to myotbplan.com. The cost per store is $150 / month and includes 30 departments. Additional departments are available at 10 departments for $25/month.
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