Tuesday, March 1, 2011

March Marketing Madness Starts NOW...

Today is March 1. It's the start to March Marketing Madness. Every day this month, you'll get tips on all things retail that can help your business grow. Some quick lessons (as in less than 140 characters worth on Twitter) or some longer posts on topics that need more attention for your business.

Make sure to join the CBCG Fan Page or follow us on Twitter as that's where the tips will come. We'll also be offering long tips and articles on our CBCG Retail Report blog so check back often. Let's have fun with the tips and most of all, we hope you learn some tips and tactics that you can use for your retail business.

And don't forget to let us know how we're doing- and what you want to see. We'll add as much content as we can to help you and your business.

So here we go.. The Tuesday Retail Tip of the day is:

Review store selling every week. Determine best sellers to re-order and slow movers that must be liquidated on a regular basis so that your inventory is fresh at all time. As inventory is the biggest expense many retailers have, you must take the time to review what is working and what isn't on a weekly basis so you can make adjustments going forward. Slow moving inventory is one of the largest challenges small businesses have. It hurts cash flow as you've already paid for the merchandise, yet it is sitting on the shelves unsold. By creating a strategy to liquidate these slow sellers, you can free up cash to bring in more of what you have identified as a best seller and to try some new items that your customers might like better. Run a selling report today and see what it says! You might be surprised.


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