With That Inventory...What Could/Should/Would Your Sales Be?

The Retail Owners Institute® has just added another online "gadget" that is kind of fun. Quick and easy to use, of course.

1. You enter your inventory on hand (@ cost);
2. You choose which retail segment you are in;
3. It immediately shows you the annual sales of the "median-performing retailer" in your segment

Here's an example for an owner of a women's boutique.

"Your Mileage May Vary"

Of course, this only means something when you compare the sales volume in your segment to your own sales results. Are your sales usually better than that? Or not?

And, if your sales from that level of inventory are significantly lower, does that mean that you should make changes?

Remember, there is no one "right answer". If there are differences, you get to decide what, if anything, you want to do about it. 

• If you want to concentrate on growing sales, you have a target for the increase.
• Or, if you elect to raise turns to reduce inventory on hand, you have perspective on what is reasonable for your retail segment.
• And, of course, you have 12 month's time to realize the effects of any changes.

Every retailer will have different answers, depending on their particular stores and situation. 

That is the whole point! 

This is another free, time-saving tool from The ROI to enable you to compare your choices, and apply your best judgment.

So have fun with it! Go here to check it out for yourself.