While no one can accurately foretell the future, you must still make educated guesses as to what your Sales will be in the coming months. You have information to work with including your selling area demographics, your past sales, your competition, the weather forecasts, the tourism prospects, and now the reopening of our country (cautiously) after the last year of Covid-19.
The basis of your OPEN TO BUY plan will be your SALES PROJECTIONS. Of course you want to improve things, but planning higher than realistic sales will encourage you to OVERBUY and set up MARKDOWNS and a cash flow drain. Being as realistic as you can with your forecast will keep your buying on target. Even if your forecast is a little low, you can always scramble for more merchandise. But if your plan is too high, you will find yourself in a hole. Remember, you can always get more merchandise, but you can’t always sell it.
A monthly review of your sales projections is one of the most important jobs for you as a retailer. Keep sales projections reasonable and you will always find the profits you’re looking for. You can do it, we can help!
myotbplan.com is the best open to buy system available! It’s easier, more accurate, more accessible, better supported, and the only one that’s guaranteed. We have no contract, you have no risk! 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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