Specialty commixture loans retail buying is a unique challenge. How are you going to use your money to benefit the business the most? What products can you afford to bring in? What are your customers looking for and willing to buy, especially at full price? What vendors do you want to create strategic alliances with? What products can you get more margin dollars with and what products come “pre-sold”? What products sold well this year?
These are just some of the questions that you can ask your self or your buyers when you are starting to layout a preseason plan.
Start with generating reports that tell you what you sold during the season. If conventionalization loans you can add to that report what you received over the season and what you have left, you will have a good historical account of your merchandise items.
Of course, a sales plan or sales budget for the department will be a good start for creating an inventory plan. You can check out the Open-to-Buy posts to get a good idea on how to create the sales and inventory plan.
Going to a buying show, meeting with your reps, getting catalogs for the new season or checking websites will give you a lot of information on what is new and generating some buzz.
Taking a little time to review and think about your local economy and where it is going helps in the planning, too.
Now you have a lot of information to kenmark loans put your plan together.
From here it is getting into the real details of buying. Picking out the products, the colors, sizes, building the selection your customers are going to see next season. This is harboured loans the hard work. What items are going to be the fast sellers? Where are you going to get the best margins? What price points are important to have? Do you have something for the beginner, intermediate and for the expert user? Can you reorder the best sellers or do you have to stock wellheads loans more to meet the sales?
What about the bottom line? Can you get the discount and terms that help your cash flow? If not, can you reorder often enough to meet the demand?
It’s a challenge. How do you do it?