From The Co-Founders


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

Time to Go "Turkey" Hunting

Thanksgiving time in the U.S. is not a good time to be a turkey. 

And, the week after Thanksgiving is obviously not a good time to try to be selling turkeys, or turkey dinners. Especially at full price.

The same thing applies to your inventory! Especially with all the challenges and distractions surrounding supply chain issues, there could be lots of "turkeys" languishing in the inventory in your stores. You know; non-selling, distressed, old, unappealing leftovers among your merchandise.

Be smart; be decisivethose "turkeys" need to be gone by the end of the Thanksgiving weekend. No matter how low the price needs to be, there are 3 vital days (unless you start earlier) to get slow movers (and non-movers!) out of your inventory.

Markdown ALL of the "turkeys" that might be lurking in your inventory. And be ready to take another markdown if the first one doesn't work.

How to identify those turkeys?
Start by making one last sweep through your stores. Of course, check your POS reports for slow movers. 

But be sure to ask your staff! They know where the turkeys are!

  • Which merchandise has been ignored by customers?
  • Mark it down, remerchandise it, and let the shoppers have at it. 

The customers are primed and ready to pursue great bargains on Black Friday and throughout the weekend, whether in-store or online.

Give them what they want...and what you don't want going forward. With the "turkeys" gone, your Holiday merchandise will look much better.

Be bold! This week, get those turkeys out of your inventory. And get that cash in hand. 

Gobble, gobble!

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