Let’s face it, you’re buying by the seat of your pants. Sadly, this only creates problems no matter how talented you are at picking items. You’ll always buy too much and you’ll certainly be buying some “dogs”. Open to buy planning will help in both areas. With a solid buying plan based on sales and turnover, you’ll always know HOW MUCH to buy. The next trick is sticking to the plan.
Even when you are over zealous in your purchases, choosing Spiffs rather than markdowns will be of great value to your bottom line. Spiffs are an incentive to your sales staff to put their efforts into certain items. When they are successful, they will see additional rewards in their pay checks. So you are paying a bit extra to get the items sold, but not getting killed by markdowns. It’s good for your staff, good for you and keeps your customers from becoming “sale shoppers”.
Spiffs are a great tool and you can employ them no matter what, but you are far better off using them with a great open to buy plan to deal with the occasional mistake you make rather than trying to move the bulk of your inventory that way. The first step in any great merchandising plan is to set up and follow an open to buy plan!
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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