Ready? NOW Is the Time to Edit That Seasonal Merchandise. 4 Keys to Being Artful

As of today, there are only 9 really good selling days left before Christmas. So now, right now, is the time for merchants to edit.  And that, of course, means being smart about markdowns.

Take a dispassionate look at your inventory, especially the seasonal goods. The goal: NO seasonal merchandise left over at the end of the season! 

Whether you call it "editing", or "thinning the herd", the point is the same. Do whatever it takes to move out that seasonal merchandise! 

But of course, you also want the most margin from those goods (some of which sell only at this time of year.) So, that's where the fun begins: you must be the Artful Merchant. Just don't wait!

4 Keys to Artful Seasonal Markdowns

1. As you know, in markdowns, timing IS everything.
   You must act now, when you have the most customer traffic in your stores. And, these shoppers are still focused on buying gifts! (The folks who come in after Christmas - the price-hounds, bottom-fishers, cherry-pickers - are a different group altogether.)


2. Use a scalpel, not a machete.
   Be a merchant! Those  "entire store on sale" tactics
 shriek desperation.


3. Make your markdowns matter.
   Be at least 1/3 to 1/2 off. Even "below cost" if needs be. (The pros know the original cost is irrelevant.) Get whatever cash you can for the merchandise. Otherwise, 3 weeks from now, well after Christmas, those markdowns will cost you 60%, 70% or 80% off. 


4. Start now, and stay on it.
   Every day, find more slow-selling (or non-selling) seasonal goods, and mark them down.

Remember the goal: NO seasonal goods left after the season is over! Let's go! Take markdowns now. And have fun!

Want More Tips for Smart Markdown Management?
Sit back and watch this lively webinar - Markdowns: Timing Is Everything! - from our Recorded Live at TOPICAL TUESDAYS archive. 
(Unlimited free access, online anytime, for ROI Members. Or, get 3-Day Online Access for just $9.95.)

Retailers...Don't Be MYTH-LED!

As Retail Strategists, we follow retailing trends and their impacts on 55 retail segments. In so doing, we've identified that some of the accepted "truisms" in retailing actually are myths. We are exposing them as myths, to prevent retailers from being myth-led.

Here are three examples:
Amazon will eventually run all retailers out of business.

Don't Be Myth-Led! The customer has the final say. 

Until Amazon solves the fact that 90% of customers want to touch, feel, test, try on or taste before buying, their growth from retailing will be limited.

Because of the soft and disappointing Back-to-School sales, 2013 Holiday sales are commonly predicted to be lackluster.

Don't Be Myth-Led! What matters is how consumers are spending.

BTS results were affected by the uptick in sales of homes and cars. In November and December, houses and cars will not suck disposable dollars away from Holiday spending.

Struggling malls can be turned around as the economy improves.

Don't Be Myth-Led!  Probably 15-20% of them have no future as malls.

How to get the highest and best use from that real estate? Retrofit them into retirement homes!