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3 Quick Tips on Sponsoring Events as a Marketing Strategy

All these instances equal lost sales opportunities. An open-to-buy (OTB) plan will guarantee that a retailer stocks the right kind and volume of goods. OTB can be calculated either in units or cash value. It is basically the difference between how much inventory is needed and how much is available for sale (including inventory on hand, in transit, and outstanding orders). As the business grows, a retailer will pretty much have an idea of what specific merchandise are highly saleable and how much of them are actually sold out. During the next sale period (month), the retailer will know what and how much to order from suppliers.


  • Streamline your patron’s visit
  • This can be achieved by arranging your merchandise in a manner that allows your shoppers enough time to browse through the new and related merchandise. Establish a layout that makes it easy for your customers to easily navigate through shelves and displays. You can also go for bundling complementary products together to offer solutions to different consumer needs.

  • Help your shoppers find what they want fast
  • Utilise comprehensible signage, an easy-to-manoeuvre floor plan, and even goods themselves to make your entire store’s selection available. Use some labels or colour codes to categorise products or areas.

  • Organise your products efficiently
  • This entails arranging items based on the criteria that consumers usually use to make their buying-decision. For example, if clients determine which shirt to buy base on the style first, then colour and size next, catalogue the clothing according to those factors.

  • Keep it fresh and trendy
  • Do more than just replace flip-flop displays with high cut boots as the year rolls by. To keep the consumers interested, you also need to continually alter some fixtures, store layout, and other features.

  • Always maintain cleanliness
  • Minimise clutter, which means that you should group similar items and dispose the outdated and discontinued ones. Also, stick to using a few large adverts instead of bundles of them to avoid confusing and distracting your customers.

    If you keep in mind all of these points, you should encounter no problem in bringing in shoppers to your retail establishment.