Retail Business
Tips
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Making Money with Your Retail
Store
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| After the busy holiday season, January is an
excellent time to take care of your old inventory. Any inventory that is at least one year old which means it has been through two holiday seasons needs to be sharply reduced. I would suggest going ½ off the regular retail with signs and actually price the product. You will make more sales by signing and pricing the old items instead of just signing. The sale price and regular price should both be visible to the customer. If possible locate these items together to make a bigger statement. This is a great way to generate sales in the beginning of the year and create a favorable perception with your customers. Also, it will free up some old inventory and space in your store. Most small retail stores are too cluttered and hard to shop. Believe it or now, less is better. The more room you create will actually result in increased sales. In November and December would be the only times, you should look to fix your store to the max, if the sales permit it. If old inventory is taken care of regularly, it will result in less markdowns and higher sales and profits. Too often, old inventory remains stuck in the store with no action taken. The poor selling inventory continues to build resulting in less sales and less money available to order hot selling merchandise. | ||||
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 Retail Business Tips
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