Merchandise Planning with The Wealthy Retailer® & Retail ORBIT®
What is Merchandise Planning?
Merchandise planning in action:Merchandise planning increases profitability by maximizing sales potential and minimizing losses from “stock-outs” and markdowns. In order for a retailer to do this, it is vital to track, measure, and respond to customer “votes” (purchases) by classification (i.e. tops, denim, accessories, etc.) A well-defined classification structure is the key to gaining the insight needed to take full advantage of your store’s sales potential.
Inventory Classifications:You need a solid classification structure: In fact, we base our merchandise planning on those specific classifications as each one represents a mini “business” within the confines of your store. Managing each of those “businesses” or classifications separately will lead to the proper flow of merchandise in your store. As we know, every season the fashions change, and vendors offer some great and some not-so-great merchandise; classifications allow you to look beyond these highly variable factors (such as fashion trends) and gain long term understanding across the marketplace to recognize what is actually in demand at your store.
Why work with us?
Retail is our passion. We understand retail, open to buy planning, and the need to achieve financial security. Our objective is to bring a solid plan, experience and optimism.
Retail Orbit® enables us to give you a custom plan that guides you through the inventory maze that will give you peace of mind knowing you have an inventory management plan that is working for you. The plan is working to provide you with the security and profits you have always dreamed of.
Not all plans are created equal. You want a plan that is accurate and proven. The Wealthy Retailer™ and Retail Orbit® put 25+ years of retail experience and 30+ years of trending and demand forecasting behind your business.
No two Retailers are the exact same and no two retail coaching plans are identical. We have created each of our packages to be tailored to suit today's evolving Retailer: