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This was our second sale for this owner. The starting inventory was over $116,000. The opening day of our Pre-Showing sales exceeded $27,000. Our customer incentive program had 333 customer participants helping us hold media advertising expenses to 2.42% of sales. Reported sales ran $131,000 for a 117% return on inventory cost plus, we sold the fixtures and equipment for over $5,500.
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!