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’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 [...]
Creating an open-to-buy isn’t difficult, but it is time consuming. It is also essential. A monthly open-to-buy acts as the foundation for disciplined purchasing. STEP 1 One of the most important parts of an open-to-buy is the projected sales for the month by department. [...]
Learn How SnapRetail Can Help you Drive More Bridal Traffic Have you ever felt that attending local Bridal Trade Shows in your area was a waste of time because the bride-to-be already has her engagement ring? If you answered “yes” to the above [...]
The merchandising plan articulates your desired outcome by product groups — revenue, gross profit percentage. If it’s too detailed, it can be too unwieldy to implement. If it’s too top-level, it won’t direct your day-to-day inventory management and buying. It’s most effective to evaluate [...]
Mother’s Day can be a terrific opportunity to generate sales. This is not an event to approach half-heartedly. To maximize sales, however; you will need to have a great marketing campaign and plenty of the right product. Follow these five steps to make your [...]
In-case signage can be a very helpful tool to communicate with your customers while they are browsing, enhance your product and most importantly, tell a story. Always assess your signage to make sure that it is consistent with your store brand and image. [...]
One of the top goals in display design is to expose as much of your inventory as possible to customer view, while at the same time giving every jewelry piece the distinction it deserves. Each merchandise group receives only a certain amount of display space, [...]
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 lower-priced [...]