Inspiring Sales and Looking your Best.
Making a sale innovative and appealing is a necessary part of the retail calendar. The goal is to hook consumers via the sale and then make sure they also see the fresh new items in your store. Through creative sales and merchandising, retailers must find delicate balance in keeping the new spring and shoulder season products flowing while cleaning out old inventory.
Here are a few Sale ideas to help navigate the middle seasons:
• Manage markdowns. The goal is to keep your inventory lean and avoid long periods of time between product arrival and product sell thru. Hopefully you’ve planned to have some cross-over or ‘early’ spring come into your stores after the holiday to freshen things up. Make sure to cross merchandise with the appropriate older product and to tell a new story.
• Flow in the Spring product so you have a smaller section of “new” items that will sit next to your current Winter season product. Inspire consumers to check out the new items. Enforce the message by visually merchandising winter and early spring products together.
• Bring in a small delivery of the current winter products late in the season to revitalize your inventory.
• Take advantage of supplier markdowns to build margin on late season ASAP orders. Gee whiz…why not?!
As independent retailers, you have more control over the flow of your product arrival and sell thru than big box retailers. Take advantage of this as you make purchasing and delivery date decisions. Keep a few extra dollars available for product purchases made in the middle of the season. We want to predict what the best seller will be before it hits the floor but keep a window open in case there are a few surprise items along the way that improve your assortment an increase your sell through.
Sales and markdowns are inevitable for most retailers, but the goal should be to plan for as few as possible and make sure that when you do have markdowns your store is clean and you are making the product you do have look its best.