With the retail market now open, your plan should reflect a realistic sales forecast & tight 2021 stock control. De – risk by reviewing your 2019 performance across categories/ brands – build your recovery around a 2 year position & the best elements / performers from your analysis.
Set a base & high plan for 2021 based on expectations. Plan by category /brand – noting the 2 year & year on year positions. Prioritise key products/brands and developement opportunities. Avoid too much focus on marginal areas & of course poor performers! Track your sales performance vs base & high plans.
How much stock have you got & how long will it last using your new forward sales plans . How are your new AW products performing ? Capitalise on low stock areas by introducing newness or replenishing your core basics. Overstocks need dealing – take action!
Your aim is generate an ” order shape ” that fits your trading plan. Be cautious on how much & what you order. Review your actual & projected orders by category / brand- how do they relate to your stock levels & sales plans? No overhang for 2022!
1 Get to grips with your business The retail industry is growing increasingly competitive. Businesses that flourish know their business inside out so they can plan trading strategy around it. They’ll be able to capitalize on their strengths, respond quickly to missed opportunities and know which elements of their business are less successful. 2 Ring-fence Monday […]
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