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KPIs Are Critical to Successful Merchandising and Inventory Management

Every business needs to monitor key metrics or Key Performance Indicators (KPIs) that can easily be measured yet can quickly provide the overall direction of where the company is going, or if a part of the business may be going astray. KPIs are merely a way to separate the “winners” from the “try agains;” and Read More KPIs Are Critical to Successful Merchandising and Inventory Management

A Simple Secret to be a Successful Merchant

What makes a successful merchant? Creativity? Brand awareness? Strong analytics skills? Or perhaps simply luck? While I am sure luck plays into any situation, it is the combination of the other factors that determines a merchant’s success. Although I am not a merchant in the creative sense of the word (I joke that I find Read More A Simple Secret to be a Successful Merchant

Name Your Price, How to Set Correct Pricing Strategies

Again this year, as I reviewed the catalogs arriving in my mailbox and shopped on my favorite websites, I was completely baffled by product prices that seemed completely irrational. They reminded me of a client where I observed similarly abstract prices. When I asked about the prices, she informed me that she simply doubled whatever Read More Name Your Price, How to Set Correct Pricing Strategies

Be Careful with In Home Dates around World Events

Over 25 years ago, I was having dinner with a wise COO of The Sharper Image when he remarked that we were in for a bad year of sales. When I asked why, he responded, “it’s an election AND an Olympic year”? He had tracked the performance of all the various catalog companies he had Read More Be Careful with In Home Dates around World Events