COMMENTARY by ALI VELSHI
Whether you run a jewelry store or gift boutique, a housewares shop or a bakery, in retail often times it's 20 percent of your products that bring in 80 percent of your revenues. But before you just start tossing that slower selling inventory, realize it's the right mix of products that brings your customers in and keeps them buying. Think about your store's identity. A creative merchandizing mix is a critical piece of most any business strategy. Each product should contribute its part to the larger goals of capturing the customers you seek and creating the image you want. A distinct, consistent and compelling store look and feel is what can set you apart. That being said, don't be afraid of holding periodic sales. The cash flow they create is helpful and it enables you to lighten the clutter in the back room. Remember the object is to always keep product moving and the register ringing.