How To Buy Products That Make More Money

You found the perfect product. You know your customers will love it. So you buy it. But what if that isn't enough to make it a good buying decision? In this episode, Salena challenges the way retailers think about inventory and explains why buying isn't just about finding products that fit your brand or that you believe will sell. Every dollar you put into stock is a dollar that can't be used somewhere else in your business, which means every product needs to earn its place. Salena walks through how to think about inventory as an investment, why your revenue and profit goals should influence your buying decisions, and why the speed at which a product turns back into cash matters just as much as whether it eventually sells. You'll also hear how one retailer discovered that the brand they thought was performing well wasn't the whole story. Once they looked more closely at the individual products, they found that bright prints were selling much faster than the plains and neutrals. That kind of insight can completely change what you choose to buy next. If you're heading into a major buying season and want to make decisions based on more than instinct, this episode will help you look at your inventory through a much more commercial lens. Register for the free Q3 Masterclass Series here.