Thursday, December 20, 2007

Retailers Adapting New Strategy on Inventory

During the mid-season holidays, retailers are finding that they need to establish new strategies on inventories because their inventory may not support markdowns.

Leaner stockrooms mean less incentive to slash prices to get goods out the door. Expect fewer late-season sales touting 50% or more off original purchase prices. Not that some big sales won't be found.

Of course, the less an item is predicted to grow sales, the more likely retailers will slash prices. Jewelry, which Retail Forward predicts will grow sales just 1% over 2006, qualifies this year. And furniture, expected to see a 1% drop in sales, could be a strong markdown despite not usually being associated with gift-giving. -- from Forbes article, 11/29/07

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Tuesday, December 11, 2007

Gift Cards Are Good Business for Retailers

According to an online American Pulse survey, many Americans would rather give than receive. And, when it comes to giving, many just want to ensure that they get the right gift and avoid the recipient arriving at the returns window.

Of the 4,069 respondents, 52.1 percent said they would rather receive a gift card or cash than gifts this holiday season. Of those, 29.6 percent preferred a gift card and 22.5 percent wanted cash.

The survey found that 45.4 percent received a gift of clothing that they didn’t like or wear last year, and 46.3 percent hate the hassle of returning gifts. Of the respondents, 22.7 percent would like to exchange gifts for things they would rather have; and 22.5 percent have "re-gifted" gifts received.

Concerning gift cards, 82.4 percent agreed they are a smart gift alternative for people they don't know well. But 10.5 percent admit they had "re-gifted" gift cards received; 13.5 percent have received gift cards that they've never redeemed; and 16.1 percent have received gift cards that they've only partially redeemed.

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Visit One Step Retail Solutions about implementing a gift card program in your store.