HOW TO CONSISTENTLY MAKE MONEY IN RETAILING
When times get tough, why do some large retailers drop like flies? Then again, why do others, in the same merchandise categories, come out of it and live to fight again?
The answer is the best retailers, over time, do not depend on luck or merchandising savants to run their business. They use a rigorous and automated business process. They know how to use their own data to help merchants predict what the customer wants, in what quantities and at what price. They can scale because they can hire ordinary people to produce extra-ordinary results and duplicate this success across thousands of SKU's in thousands of stores in every region of the country. Yet even as they scale, they increase comp store sales, increase inventory turns, reduce markdowns and increase operating margins.
The principals of SKUniverse have spent their careers managing and/or turning around what became superior performing retailers including Target, H.E. Butt, Revco, (now CVS) and Office Depot. They have done this by developing and implementing this business process and the technology that enables it. We have created a way to package this technology so it can be brought to other retailers at a reasonable price and be installed in less than a year. Without this kind of a technology driven process, no retailer can produce consistent earnings growth and in time will run the risk of losing their core customer. This will result in poor comp store sales, reduced operating income and poor working capital metrics .
Click here to learn more about the inventory management system every retailer needs for significant improvements.
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