Five tips on the fifth of each month: What five things can you do in one month to make a difference on your selling floor?
1. Review Your Inventory Monthly
Every month, review your P&L statement, paying close attention to inventory both in stock and on the selling floor. Are your numbers in line with your business plan, or do adjustments need to be made?
2. Move Excess Inventory
If inventory is heavy on the selling floor, act quickly—discount and sell off excess stock to make room for fresh merchandise.
3. Restock When Inventory Runs Low
If inventory levels are low both on the floor and in storage, check the timing of your orders. Do you have shipments on the way? If not, place orders as soon as possible to avoid stock shortages.
4. Reach Critical Mass
To achieve “critical mass” on your selling floor, each fixture should be fully stocked but not overcrowded. When you hit this balance, customers find it easier to shop, trust your store, and make purchase decisions.
5. Use Merchandising Techniques to Maintain Balance
To keep inventory at the critical mass level, apply these proven merchandising strategies:
- Face-forward displays – Make products easily visible.
- Heavy items on the bottom – For a stable, structured look.
- Pyramid arrangements – Layered displays guide the eye naturally.
- Frequent rotation – Keep displays fresh and engaging.
- Proper lighting – Highlight key items for better visibility.
By following these five steps, you’ll keep your inventory in check, maintain a well-merchandised store, and create a shopping experience that encourages sales. For more expert advice on inventory management and visual merchandising, contact Lyn at lyn@retailworksinc.com.
