Maximizing Visibility and Interest in Retail: Maximizing visibility and interest in a retail setting is crucial for attracting customers and driving sales. Here’s a detailed exploration of tips to achieve this: 1. Strategic Product Placement: Eye Level: Often referred to as the “buy level,”…
Unlocking Efficiency and Profitability Effective inventory management is critical for any business that sells physical products. It can be a complex and time-consuming task, with a multitude of factors to consider, including demand forecasting, stock levels, and supply chain management. Fortunately, AI can help…
Buying stands as a pivotal pillar for all business entities. Tasked with overseeing the comprehensive organizational expenditure, this department ensures the seamless functioning of business activities by securing essential supplies and inventory. In the intricate web of today’s global economic landscape, procurement and supply…
Introduction In the modern business landscape, the ability to make data-driven decisions is paramount. One area where this is particularly evident is in category management, a retailing and purchasing concept where the range of products purchased by a business or sold by a retailer…
Take responsibility for providing Buyers with merchandise feedback. The Buyer’s in your retail operation may be incredibly talented…but they are not mind readers. Whenever they purchase goods that will be available for sale in the stores, they rely on their skills, talent and experience. It’s…
Fortunate is the Highly Successful Retail Manager (HSRM) who has a solid background in visual merchandising! The HSRM who does not have that background or who does not consider himself a creative individual must, nevertheless, develop a flair for visual merchandising or visual presentation….
If you’re not taking advantage of pre-cashdesk impulse aisles, you are losing revenue. YES…IT’S A GOOD BET THAT THEY MISSED IT OUT ON THE FLOOR BECAUSE THEY WEREN’T EVEN LOOKING FOR IT!! THAT’S THE BEAUTY OF THE IMPULSE ITEM, ISN’T IT? For a very…
Retailers need to take a closer look at their missed opportunities; they need to quantify lost sales. I am going to do that right now, for a large office supply chain with very little competition. Just to give you a bit of background… The…
For a District Manager who regularly travels between different stores, and for Store Managers, Weeks of Stock can be a very useful number. Weeks of stock is: $ inventory divided by average weekly sales for that category/department, etc. Example: Inventory level: $8,000.00 Total…
There’s something about ‘the office’, isn’t there? It’s that place where we get quiet time to get our thoughts together. We can close the door and really get some serious work done. The office is where all of our equipment and files – physical…