Customer special orders are those products that your customers wish to purchase, but you don’t have in stock and need to order in for them. Special ordering was once considered normal retailing behaviour. However in the race to streamline and simplify operations many retailers don’t bother. Or if they allow it they don’t actively promote [...]
If you don’t have a discount policy, or you aren’t tracking how much discount you give away, your store’s over-generosity might be the reason your retail shop is not as profitable as it deserves to be. In this short guide we look at the problem with ad-hoc or discretionary discounting, and how to get control [...]
A quick question: hands up how many of you wait until stocktake is complete, or the accountant asks for end-of-year reports, until you realise there is a problem with your inventory? That’s not good enough and you should know better! If your retail shop is like most others, inventory accounts for 95-100% of your [...]
