The monster under the bed is really only in your head you tell your child. Well, the same holds true for avoiding open to buy. It’s not a monster, it’s probably your savior. The monster is thinking that GUESSING will allow you to be profitable when in reality, guessing is what causes most retail failures.
You know what to buy, right? You look in your competitor’s windows, you go to the shows, you visit your local merchandise mart, you spend time on the floor with your customers – all so you will know what to buy. But the other half of the equation is knowing HOW MUCH to buy. Guessing won’t cut it, there’s just too many variables – multiple departments, 12 months, turn rates for each department adjusted to reflect the sales impact of each month. You can’t do it in your head.
You need open to buy to tell you how much to buy – in each department, for each month, for the next 12 months – so you always have the right amount of merchandise to support your sales at the turn rates you desire. That’s a formula for success.
You can be set up with a great open to buy plan in a few hours and be able to see where your current inventory is out of balance and the orders you’ve recently placed are out of whack. Making a few changes to these two areas will result in pointing your store toward a better bottom line.
You can look at all of the open to buy systems and services available (and we kind of hope you do) and you will see that by far the easiest, most accurate, most accessible, best supported, affordable system with no contract and a Performance Guarantee is myotbplan.com. You’re either going to a show, or just back and now is the time to insure that your future orders are right on target.
We can show you that there’s no monster under the bed, there’s just your success waiting to be realized. Let’s talk!