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Replenishment is defined as filling-in merchandise or product to their optimal levels. You also must consider other factors like product seasonality, category, and inventory performance data when replenishing your inventory. When looking at your inventory levels, it is important to walk the line between low stock and overbuying. The goal should be to sell items at full-price while achieving the highest turn.

It is not your job as retailer to motivate your crew, it is your job to come up with an excellent place to work where they are constantly learning and using their information. it is so slow” because they think people will just come in and ask for a 9D in a cool new shoe. I have found many running stores tell themselves how great they are and their employees because they know so much about the product. Unless running stores get up to speed and quit being such snobs about who their customers are and how they sell, I think they’ll continue to struggle.

If you’re a retail buyer heading to FN Platform next week in Las Vegas, you’ll have the chance to meet with footwear brand representatives from all over the world to learn about their products and determine if they’re right for your store. Like many RICS employees, VP of Retail Performance, Amber Vanes, has a background in the retail industry. As a buyer at Finish Line, she attended the show for years, learning about new product, meeting with brand representatives, and buying footwear for upcoming seasons.

Markdowns are permanent price reductions while discounts are just temporary. Sometimes retailers hang onto products longer than they should in hopes they will sell at full price. The truth: the product you’re trying to sell has already been paid for and your money is sitting on the shelf not turning a profit. By holding onto it for an extended period with the hopes it will sell at full price, you are stealing space on your shelves from new products that could sell more quickly for their full value.