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 easy answer when you are overstocked is markdowns. Have a sale and raise some cash. But when you do that, bad things happen. To begin with, you are training your customers to be “sale” shoppers. Instead of coming in to see what’s new, they are coming in for bargains. The bargains you are offering only benefit your customers and certainly not YOU!
When you mark merchandise down, you are eliminating your contribution to overhead and profits. You need that contribution to overhead to keep the doors open. Without profit, what are you doing all that work for?
Don’t fight it – there’s only one solution. You must buy the right QUANTITIES. There’s only one way to develop a buying plan that will have you ordering the right quantities to support your sales, keep your inventory lean and turning and REDUCE MARKDOWNS, and that is open to buy. Without OTB, you’re just guessing and that never works. Stop guessing, stop overbuying, and reduce markdowns with open to buy planning!
myotbplan.com is the best open to buy system available! It’s easier, more accurate, more accessible, better supported, the only one that’s guaranteed and has no contract. You have nothing to lose and so much to gain. Call 310-829-5148 today with your questions or just fill out the no obligation Subscribe form online and we’ll call you. Why wait?
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