Confused? Here’s how it works…
Many store owners open businesses and buy what they LOVE. Naturally, they then try to sell what they LOVE. Here’s the catch… not every customer loves what they love, and as a result, store owners and retail buyers are left with inventory they adore, but can’t understand why it’s not selling.
When you review your store inventory and plan for your next buy trip, consider the following:
1. What is your #1 selling item?
2. What is your #2, #3, #4 and #5 selling item?
3. Why do you believe these are your top sellers?
4. Why do you think customers have made them your top sellers (note: this is a different question than #3… really think about your customer’s perspective here)
5. What are your top ten worst performing items?
6. Do you love any of your worst performing items?
7. Why?
8. Are you emotionally connected to any of your top or worst selling items?
9. Are you looking for new customers?
10. Do you want to grow your business?
And finally… are you willing to change your buying patterns?
Numbers don’t lie. Track your inventory and sell-thru. What is selling? What isn’t? Buy responsibility to support your customer’s interests – not yours.
Contributed by Nicole Leinbach Reyhle, Founder & Editorial Director of Retail Minded – the nation’s only support for independent businesses both in and out of their stores. Learn more at www.RetailMinded.com.
