For most retailers, especially this year, reducing inventory is priority #1. With talk of a 2023 recession still in the air, lingering inflation driving up costs, and rising interest rates, cash is definitely king this year.
Time to revisit your year-end strategies for meeting your targeted ending inventory on December 31. If you are like many retailers this year, with plenty of merchandise in your stores, you know the challenge: how best to turn that inventory into cash? Quickly! Especially without looking like a distressed merchant.
One answer? Focus on improving the productivity of each shopper who comes to your store. That is, increase the IPTs (Items Per Transaction.) That is, make it easier, more compelling and more fun for them to buy more items from you.
Time to revisit your year-end strategies for meeting your targeted ending inventory on December 31. If you are like many retailers this year, with plenty of merchandise in your stores, you know the challenge: how best to turn that inventory into cash? Quickly! Especially without looking like a distressed merchant.
One answer? Focus on improving the productivity of each shopper who comes to your store. That is, increase the IPTs (Items Per Transaction.) That is, make it easier, more compelling and more fun for them to buy more items from you.