Top buying expert Suzanne Chapman has provided her top tips on how to stock and merchandise your independent retail business in early 2020 in order to maximise your profits this year.

 

Sale set up’s in store

Most retailers will still be selling through marked down stock from AW19, and any excess Christmas lines, to make way for the new Spring ranges landing in stores. To help increase your sell through, retailers should ensure all marked down stock is clearly marked with the sale price, and is merchandised neatly. Sale stock should be and tidy and stock should be refreshed regularly, if excess is held in warehouse. POS should be clear and ideally products individually priced with a was / now price label…..everyone love’s to see how much of a bargain they are getting!

Spinner stands are an excellent sales driver at this time of year as stores transform from AW stock into new Spring stock – they take up little space and can be moved around as your store transforms through seasons.

Promotional Lines

This time of year is also a great opportunity to bring in some promotional sale buy lines. These can be bought and displayed in bulk, depending on the space you have available in your store. Lines that work well at this time of year, are plastic storage boxes, garden tidy lines, and spring cleaning product. Healthy eating is at the forefront of everyone’s mind after the ‘Christmas binge’, so consider what line’s you could sell related to this. Other opportunities include duvets and pillows, as we are still in cold months and it is a time that your customers have lots of visitors.

The first big commercial key date for your diary in February is Valentine’s Day on the 14th of February. As this is such a short selling window, not all retailers want to commit to Valentine’s specific product, that ultimately may have to be marked down to sell thru once the 14th of February has passed. Why not get creative and pull together candles, chocolates, or generic gifting with love hearts on it. Remember to have an FSDU with cards set up next to Valentine’s gifts – this is an obvious linked sale for your customers. Maybe a clip strip of gift bags also?

Final Thoughts

Brexit uncertainty and the time of year means customers will be watching what they spend and so it is vital that your independent retail business offers value and remains competitive in 2020.

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