The Holiday Season is over, and hopefully you had a banner month in December and a good 2016. Now it’s time to do it all over again! Every year brings new challenges and opportunities, so it’s time to take stock of how you did last year and to consider what went right and what went wrong.
You probably have lower levels of fast-selling merchandise, but are still over-inventoried on product that just didn’t sell last year, or in previous years. It may well be time to consider selling off aged and underperforming inventory to get a smart head start on 2017. Review your aging report in your point of sale system and try to get a clear picture of what needs to be done.
Next, consider how you did in marketing and branding your store last year. Did you take a strategic look at the business and position it for the future? If not, is that something you should prioritize as you begin the new year? The business isn’t getting any easier, but the opportunity to grab market share is always there, especially when some of your competitors are calling it quits and closing their doors.
Despite the apparent growth of online shopping, most savvy consumers still want to buy jewelry from a knowledgeable professional they can meet in person, talk to in confidence, and rely on to be there for them long into the future. I’m tired of hearing about the demise of the independent jeweler. Most of my clients have powerful businesses that they continuously restore, refine, and reinvent to stay relevant in today’s modern age.
The most important thing you can do in this new year is to formulate a game plan to grow your business and your profitability. Our goal in the strategic sale event business is to keep you in business and to help pave a new road to the future that is lined with profit. When we say we’re the retail jeweler’s strategic partner, we mean it. It would be our honor and pleasure to help you make the resolutions necessary to plan your future in the new calendar year. Please give us a call.