You’ve been thinking about it. You know it’s time. You know your business needs it. You know you need to take a minute to assess your overstock inventory. Holding on to surplus inventory for too long can hurt retailers, but you’re not stuck with stagnant shelves. With the right data and a few tricks, you…
ABOUT THE AUTHOR Andrea McHugh Andrea McHugh is a New England-based food, wine and spirits, and travel writer. Her byline can be found in US News, Insider, Parade Magazine, the Boston Globe, Yankee Magazine, Classic Boat, Travel Awaits, TripSavvy, the Hartford Courant and numerous national and international publications. She’s traveled to destinations far and wide,…
If you want to sell exclusive merchandise without the massive overhead of running a factory, private labeling is often the smartest route. Private labeling is a business model where a third-party manufacturer produces goods that are sold exclusively under your own brand name and logo. While it might seem complicated at first, taking control of…
Product cannibalization occurs when a new release reduces the sales volume or revenue of your existing merchandise rather than capturing new market share. You might think you are expanding your reach, but you are actually just shifting your current customers from one item to another. We’ll look at exactly why this happens, how to calculate…
Downtown Houston’s cocktail bar Angel Share has always had an intriguing premise. Here, you can drink for a cause. Every beer, glass of wine, cocktail, and dish ordered comes with a ticket that patrons can use to vote for one of four featured local charities. In the end, the tickets are weighed, giving each deserving…
