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This retailer was an absentee owner and he consulted with our Sale Consultant by phone almost every evening throughout the sale.This was a $190,000 cost inventory including 400 pair of out dated athletic shoes found in the basement. They transferred in another $5,000 in unwanted merchandise from another store including over a $1,000 in dated athletic shoes. They also pulled out $2,000 in good merchandise and sent it to another store. This made the cost of merchandise to be sold $193,000. The opening day of our Pre-Showing sales fell just short of $22,000. Reported sales exceeded $206,000. Our Fun Game had 415 customers participating which helped our Sale Consultant hold media advertising expenses to 3.8%. At the bottom of the Final Report the owner wrote “Good experience—good sale!”
We are facing highly unusual times. Stores in many states, cities and counties have been forced to close, and the consumer has been encouraged to stay at home and only shop for necessary items. It now appears that things are beginning to break open, the consumer is starting to get out and retailers are going to have to aggressively go after every dollar they can get to cover lost sales.
The retail industry has lost their good spring selling season. Retailers are stuck with two seasons of merchandise. Now they must reopen with a strong sale and heavy advertising to generate customer traffic and raise a huge amount of cash. Out of season and over stocks need to be converted to cash while in season merchandise needs to be sold to make as much profit as possible. AND IT NEEDS TO BE DONE AS SOON AS POSSIBLE!