Post by account_disabled on Mar 6, 2024 5:21:36 GMT
Although sales are inevitable in retail, when done strategically they can be a useful and healthy tool to keep the store fresh and attractive, while generating positive customer and cash flow.
Traditionally, the sales period involves getting rid Paraguay Mobile Number List of excess stock at the end of the season, encouraging sales through discounts. Although, today, sales have evolved so much that the consumer is accustomed to discounts throughout the year and retailers use sales, even mid-season, to correct inventory errors and generate store traffic.
A product that does not sell on the shelf is worthless to the business when it comes to paying the bills, but reducing the profit margin can jeopardize the company's profitability. So, the key will be balance.
It may be time to change our approach to this campaign.
Why is it important to have a sales strategy in retail?
The markdown strategy is crucial because it has a direct impact on increasing sales and clearing stock. Without them, shelves could be overloaded and sales figures remain low, with a consequent loss of purchasing power for the retailer.
The opportunity cost is that since the store will be full of inventory, it will be difficult to buy new products that sell better.
Although the natural objective remains to sell the items that we have not sold in season, we can also take advantage of this opportunity to set other objectives.
Of course, service businesses can also take advantage of consumer inertia during this time to boost their sales.
A hospitality business can include certain extras on the menu or a freelancer can offer bonuses on their services .
Let's see how to take advantage of this period to obtain benefits both in the short and long term.
Traditionally, the sales period involves getting rid Paraguay Mobile Number List of excess stock at the end of the season, encouraging sales through discounts. Although, today, sales have evolved so much that the consumer is accustomed to discounts throughout the year and retailers use sales, even mid-season, to correct inventory errors and generate store traffic.
A product that does not sell on the shelf is worthless to the business when it comes to paying the bills, but reducing the profit margin can jeopardize the company's profitability. So, the key will be balance.
It may be time to change our approach to this campaign.
Why is it important to have a sales strategy in retail?
The markdown strategy is crucial because it has a direct impact on increasing sales and clearing stock. Without them, shelves could be overloaded and sales figures remain low, with a consequent loss of purchasing power for the retailer.
The opportunity cost is that since the store will be full of inventory, it will be difficult to buy new products that sell better.
Although the natural objective remains to sell the items that we have not sold in season, we can also take advantage of this opportunity to set other objectives.
Of course, service businesses can also take advantage of consumer inertia during this time to boost their sales.
A hospitality business can include certain extras on the menu or a freelancer can offer bonuses on their services .
Let's see how to take advantage of this period to obtain benefits both in the short and long term.