The department store model in Asia is almost always stores within stores. The department store owners are in effect landlords who provide the space, electricity, POS etc. The suppliers provide and own the stock and usually the fixtures and they always provide the staff. To a lesser degree we see shops within shops in Australia. One of …
Theoretically margin has to end at about 99.9%. At this point suppliers would be charging you $10 for an item that sells at $10,000. Your gross profit would be $9,990 and your markup would be 99,900%. Years ago a margin of 50% (or a markup of 100%) was pretty good on a lot of typical …
Inventory management is an art, not a science, and is a serious challenge for even the best retailers in the world. The permutations of items and stores every week are nigh on impossible to manage without a sophisticated inventory management system. Given that a significant portion of a retailer’s capital is tied up in inventory, …
Relationships between buyers and sellers have existed since humans began trading goods and services. These relationships developed in a natural way over time as the buyers and sellers developed trust and friendship. In the past thirty years the landscape has changed somewhat. In 1983, Purchasing, in its “Vendor Profile Forecast” predicted that within the following …
The Open to Buy is a highly effective blunt instrument used by most general merchandise retailers to plan their purchasing and control inventory. I am sure many of the readers of this article are familiar with this tool and it works pretty well – most of the time. Of course there are other ways to …
GMROII (Gross Margin Return on Inventory Investment) is one of those terms that is bandied about a lot, but yet is surprisingly poorly understood. The reason it is referred to regularly is because if well integrated into the thinking process, it is one of the most powerful KPIs by which to manage a retail business. …
We’ve researched five strategic tools you can use to increase sales and maximize profits in the retail industry. These tools give you the resources to make effective decisions and strengthen the relationships in your retail supplier business. FollowUp.cc FollowUp.cc is a tool to help improve communication. Every time you open an email, you’ll see the …
5 Tools That Help You Run a More Profitable Retail Supplier Business Read More »
Suppliers and buyers working together collaboratively as a team can have a dramatic effect on achieving business goals and increasing sales. Here is how to take your relationship to the next level and become a true retail partner, rather than simply an order placer and an order fulfiller. Take Advantage of Your POS Data …
Strengthening the Retail Supplier-Buyer Relationship Read More »
by Lesya McQueen As a former Senior Vice President of Apparel, Footwear and Infant Consumables at Walmart Canada, I witnessed firsthand the power of vendor collaboration. Retail Link, the online source of sales and inventory data for suppliers of Walmart, is a treasure trove of data that enables vendors to analyze their business and provide …
How to Use Retail Link to Drive Your Business with Walmart: an Account from a Former SVP Read More »
In a perfect world, your retail partner would have the right quantity of stock for every item in every store. Reality, however, gets in the way. Weather, seasonality and other variables impact what consumers are buying and have a dramatic effect on your product sales. In order to have the right amount of stock and …
How to Plan for the Weather In Order to Maximize Sales Read More »
