What is inventory freshness for retailers? We teamed up with industry expert Dan Jablons of Retail Smart Guys to provide retailers with educational content to help your business thrive. Check out the third part of our series to learn how inventory freshness can boost your independent retail business. Watch and learn.
“If your customer comes in this month and sees what they saw last month, they’re not coming next month.”
There’s an old adage in the retail business, “If your customer comes in this month and sees what they saw last month, they’re not coming next month.” So, you’ve got to constantly flow in something new, fresh, and exciting—every month.
Bring in new goods every month
That means you have to plan your purchases and plan your sales in such a way that you are able to bring in new goods every month. By bringing in new goods every month, what you create inside your store is an element of surprise, of newness, of “Oh, I got to get in there, because they’ve got stuff I haven’t seen before!”
Make sure there is always something new
The reality is that you spend more money on inventory than anything else in your store. As such, the curating of that assortment, and making sure there’s always something new and fresh and exciting for your customers to look at, is critical to the success of your retail business.
Promote new inventory on social media
Freshness is also helpful for you when you’re trying to think of things you can do on social media. What are you going to talk about on social media? The best thing to talk about is what just came in the door.
How fresh is your inventory?
You want to measure carefully is how fresh is your retail inventory and what can you do to ensure that you’ve got the most fresh inventory on the floor at any time!
