This article is reprinted with permission from Linda Carter with The Retail Management Advisors, and a long time friend and consultant to Smyth Retail and many of our clients. This is a great explanation of the difference between markdowns and discounts. Generally, customers choose to shop a particular store based on the store’s reputation (brand), […]
Why the Retail Inventory Method Isn’t Obsolete
There have been several posts claiming that modern technology has made the Retail Inventory Method (Retail Method) obsolete for valuing inventory. While all these articles have valid claims regarding the retail method’s limitations, it doesn’t mean the valuation method is obsolete. The difference is to know when the Retail Method should be used, and when […]
Stepping into 2015!
We wish all of our clients a wonderful and prosperous New Year. We are excited about our development schedule for the coming year. This year we are directing our attention to providing you with better tools for customer management. Scheduled for release this year: Loyalty Program – A new Loyalty module will be […]
Case Study – Fillings: Planning pays off.
I’m honored that Jay Filling has asked to guest post on our blog so he can share with fellow retailers the key to his remarkable performance improvements within a few short years. Thank you Jay for being so open with your story. ~ Tim Smyth. I recently thanked Tim Smyth and his team for hosting […]
Progressive Price Changes
Progressive price changes are an effective tool for assuring a complete sell through at the end of each season for any line or category of merchandise. Margins can be maximized by gradually marking down product in progressive steps that assures a complete sell through at the best prices possible. They can be critical in maintaining […]
