jeweler’s inventory is a little like cholesterol. When jewelry ages and underperforms in your store, it causes a buildup that cripples your cash flow and keeps you from buying product you need at price points that are missing in your merchandise mix. Without a systematic method of purging jewelry items, this excess inventory can have a devastating impact on your business.
Most of us know that there is good cholesterol (HDL) and bad cholesterol (LDL). And we all know that if we have high blood cholesterol, we have a greater chance of getting coronary heart disease. To be healthy, we want to lower our bad cholesterol and increase our good cholesterol.
I’m no medical doctor, but I am a pretty good “doctor” of what ails your jewelry business. I know how good inventory contributes to great business and also how bad, dead, and aged inventory holds a business back, often to the point of constricting or even blocking profitability.
A high level of cholesterol usually has no immediate signs or symptoms that might alarm us. It’s there, but we really don’t feel it unless it manifests itself in some form of heart disease, often when it’s too late for us to do anything about it. And so it is with excess inventory until it becomes so high that it cripples our business and causes serious financial repercussions.
One tried and true method of coping with excess inventory is to run a sale event with professionals who know how to reduce aged inventory, maximize recovery value, and dramatically increase sales. And all this is done while building a customer base of 20-50% and protecting a store’s image, bringing peace of mind to owners and managers.
If this sounds too good to be true, it isn’t. Don’t wait to get a check-up. Just like with bad cholesterol, the build-up in bad inventory can cause significant problems to your business. Contact us. We have the solution.