Wouldn’t that be great if it were actually true? Sales a little slow? Go buy some more merchandise. Want to double your sales? Just double your inventory. This is probably every retailers’ favorite dream, but it’s just fantasy!
When you first opened your store, sales grew pretty fast. That’s the newness/curiosity factor. You were starting from zero and if you had the right personnel, the customers you sold told others and came back because of your sales staff, your displays, your publicity, word of mouth, but NOT because of your overwhelming inventory.
In fact, too much inventory will just be confusing and will cause your customer to go on overload and not buy. They want to enter a pleasant environment, be treated well by knowledgeable staff they can relate to who will help them satisfy their desires. It’s really that simple. The truth is that inventory is only there to SUPPORT sales, not to CREATE them.
So, the trick is to have the right amount of merchandise in the right area at the right time to SUPPORT the sales you expect at the turn rates you desire. You need to turn your inventory, not build it. Turnover brings profits, bloated inventory brings excess invoices, markdowns and cash flow problems.
The way to have the right amount of inventory all the time is open to buy planning. Once you have a good open to buy plan in place and are following it, you can be creative in your buying knowing that you are headed toward profits rather than problems. The open to buy plan that will give you everything you want is myotbplan.com. It’s easy, accurate, accessible, affordable, supported 10/7, has no contract and is guaranteed.
Don’t take the easy route and just buy more inventory it will NOT serve your purposes. Use myotbplan.com and your success is guaranteed or we’ll refund your payments. You can’t beat that!