SolveYourProblem
eBusiness Series:
How To Start
Your Own Retail Business
From Preparation To Profitability
( 15 Pages )
Merchandising
and Inventory
Since the sole
purpose of opening a retail business is to sell merchandise
to the public, you should be certain to know exactly what
types of merchandise you plan to sell, and also to know which
merchandise to include in your store. You don’t want to try
and offer clothing and dog food in the same establishment
if you are not planning on opening a department store.
This may sound
silly, but many stores that fail offer merchandise that doesn’t
seem to make sense when mixed together. You would be surprised
at how many retailers make this mistake.
When thinking
about your merchandise you should also consider the correct
positioning of it. This can often be the difference between
selling your goods and not selling them. For example, you
should place your sales items in an obvious and easy to spot
place if you want that promotion to be seen. As a courtesy
to your customers, you should consider placing private items
in a less conspicuous area of your store. It just shows that
you care about your customer’s feelings.
When stocking
your inventory, you should place like items together. If
you were to open a car dealership, you would want to place
your convertibles together and your vans together because
it is a bit more slightly, but also because any consumer
that is looking to buy a convertible would not want to have
to travel all over the place just to find the one they like
the best.
You will also
want to place accessory items together and in a nearby position
because they will be more likely to be purchased if they
are near the item that it best fits with an din plain view.
 
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