Managing merchandise margins and turnover and creating more sellable inventories are extremely important management activities in this economy. Here are a dozen components that should be a part of every retail jewelry store’s merchandising management planning strategies. Over the following twelve days I will posting a new component to this blog every day.
Check my blog each day to learn more about:
1. Creating Your Own Guide to Buying-
2. Putting More Emphasis on Initial Mark Up-
3. Think Total Contribution to Sale-
4. How to Fine Tune Estimated Sales-
5. How to Estimate Profits for Each Product Category-
6. Why You Need to Manage by Variance-
7. Proactively Manage Mark Downs-
8. Aggressively Plan Forecasted Sales-
9. Preplan Your Reduction
10. Planned Purchases-
11. Six Month Buy Plan-
12. Promotional Planning-
The two reasons why companies go out of business are lack of cash flow and failure to plan. Merchandising management is all about managing cash flow and planning. Putting more emphasis into merchandising management just makes good business sense. Plan your work and work your plan is an old adage. Failing to plan is planning to fail is another is another viewpoint. Which one applies to your store?