February is the second strongest engagement month of the year, eclipsed only by December. While Valentine’s Day is one of the top events for most retail jewelers, the average sale tends to be lower than Christmas, as the other gifts men are contemplating are [...]
Maintaining your best-selling inventory is, without doubt, the most critical area of your inventory control. Fast sellers are often only 5-20% of the average stores inventory but can be responsible for generating up to 80% of all storewide sales. Getting them back isn’t just [...]
The first thing to understand when it comes to determining your Optimum Inventory Level (OIL) is that it doesn't start with inventory. There are three other steps required first to ensure your OIL is calculated accurately rather than based on guesswork and hope. It [...]
I would like to start this article with a quote from “Why She Buys” by Bridget Brennan - “Female culture should be studied with the same focus that entering a foreign market requires. Mastering female culture is the key to success for companies that [...]
You probably already know that you should be making videos for YouTube and Facebook if you’re a small business owner. That’s right up there on the business basics list with having a web presence and an email list. What may be less clear is [...]
Is a mobile-friendly website necessary? Do you really need a website that will look good and perform well on smartphones and tablets? My guess is you probably already know the answer (by the way, it’s yes), and yet not all small businesses have websites [...]
You’ve searched the show floor. You’ve purchased the perfect product. You’ve put together a merchandising plan. You’re excited about it! Now what? Investing in new product is exciting! But only if it sells. With proper planning, you can ensure it sells. When you purchase [...]
One of the key reasons consumers purchase designer product is because they feel that they share an aesthetic with the designer. In other words, they fall in love with a line or product. I know for instance that the likelihood is very high that [...]
When it comes to copywriting, you may think you already know what makes good writing stand out. It's the pieces that convince others to buy, that stand out and sell the product in a new and meaningful way. This is all true, but if [...]
If you have a surplus of aged inventory (and most retailers do), recognize that you did not acquire this problem in one day. And it won’t get solved in one day. But, to free up dollars for new purchasing and replenishment, you need get [...]