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***UPDATED***I want to begin buying into phased collections. How would you advise me to stagger my seasonal buying budget between the four main delivery phases?
I agree with Frances. Freshness sales.
Retail success is about bringing fresh goods in the shop ( there are other things of course ). So do take advantage of the various delivery groups the brands offer you.
"How much to buy and when to bring it in" is the expertise we bring to retailers and for you to do it, look into:
breaking down your stock into different product types ( dress, skirts, suits, access ...) and analyse your stock by product and then by brand. You must take measurements on what has sold per month in each class and if you are able toforecast well, you will be able to answer the question of how much and when to bring the stock in.
Buying the right amount will minimise discouts and bringing the goods at the right time will increase sales. Cash flow will be better as you will be selling closer to the season
Note that forecasting at over 90% accuracy over the next 12 months is possible.
15 July 2009
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