When we were kids, we didn’t like those commands, though I bet you never heard the last one when you were young. My point is that those things that are not much fun turn out to be GOOD for us.
These days more and more folks are gulping down their vegetables because it makes sense to keep your body in shape, prevent illness and live longer. And the same goes for flossing – a habit that is a pain, but pays big dividends. Just ask the person in your family that is wearing dentures because of gum problems.
And then there’s OTB. Retailers are a bit like kids in that they want to have fun. And retailing is fun. It’s creative. It’s an ego trip. And it’s hazardous! There’s a lot of great retailers that don’t make it and it’s not because they don’t understand fashion or their customers or trends or how to make great buys. It’s because they don’t do their OTB.
Great buying is nothing if it’s not based on a solid foundation of numbers. Those numbers are projected sales and desired turn rates. Those numbers drive every retail store and must also drive the buying. Sales are important because they bring in cash, but turnover is CRITICAL because it controls the buying and matches it to sales. Without OTB, there is no turnover in the equation and without turnover, every retailer will overbuy, have bloated inventory, excess invoices, markdowns, and cash flow problems.
So, we’ve learned to eat our vegetables and floss our teeth. If you’re a retailer, when will you learn to do your OTB?
If you’re ready, there’s an easy, accurate, affordable, accessible, well supported and guaranteed program waiting to take the pain out of insuring your success. Give us a call at 310-829-5148.