PERSPECTIVES

From The Co-Founders

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Tips, Tactics & Strategic Insights and Commentary
from The ROI Co-Founders, Pat Johnson and Dick Outcalt
Outcalt & Johnson: Retail Strategists LLC; Retail Turnaround Experts

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The New Dynamics of Merchandise Mix

The Retail Owners Institute® has developed a retail strategy for "Inventory Management Going Forward." 

As we often do, it was recapped as an unassuming chart (see above) identifying the Five Stages of Merchandise Mix Management, from "Before COVID-19" to the "New Normal?"

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Post COVID-19: Five Stages of Inventory Management

Customers have become very tentative and “prone to thrift”, as the economists say. As the economy reopens, the lowered sales demand drastically reduced inventory levels. 
  • However, as the inventory quantity is reduced, the new imperative is the mix of merchandise. 
  • Discretionary spending will lag; retailers must expand and feature the basics, the “never-outs,” like never before. ​
Here are our BIG PICTURE thoughts on the stages that might unfold.
  • Total inventory levels must be reduced, especially at first, and then grow over time as sales levels return.
  • Importantly, the MIX of merchandise must change. Significantly!
     

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