How To Take Advantage of Convention Season in Retail Sales | Retail Today With Bob Phibbs, the Retail Doctor - Flash Briefing

January is the start of a lot of things and including convention season. So a lot of times people say, "well, what products should I carry?" And before you head off to any show, you want to go through and have an analysis of your 2019 sales. You want to look at your top 10 categories, your top 10 vendors within those categories, and then you're out of stocks, and the ones that you had to put on markdown. The more you know about your merchandise and how it performed last year, the easier it will be for you to say no when someone runs up and says, "Oh, you just have to get this." Or your manager says, "Oh, these are so cute, we should buy them." Because without a plan, you fail. And you fail the plan, you fail. So only carry products that turn at least twice a year.

If you love what you heard on Retail Today, connect with Bob by visiting retaildoc.com or send a message to bob@retaildoc.com. Thanks for listening!

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