Evaluate your Inventory!

EVALUATE YOUR INVENTORY

My apologies for writing this Part 3 a little late. With different states opening up and demand going up, step by step, I have been a little caught up organising the business.

Part 3, talks about inventory. We all know that in the retail business, businesses who can handle their inventory very well are the ones making good money. In these COVID times, inventory evaluation and management is even more important.

Yes, your stores have been closed for 2-3 months depending on which state you are in, and hence the already bought inventory is in your back room. The fashion business encounters seasons, and fashion changes, as season changes. So most of the inventory you will have is Spring/Summer and also some may be from the past Fall season. But since you have had a full selling Fall/Winter season, hopefully your fall inventory is less. 

It is important to trim the fat. Try and offer a mix of Fall and Spring to your customers. Note, a lot of them are working from home and those are the ones who could do with light weight sweaters from Spring may be, or some knit tanks or woven loose blouses which they can still continue wearing at home.

Keep smiling and offer emotional support to your customers when they walk in! 

Always remember, helping you grow your business is always on my mind!

Love

Addy