When spring markdowns aren’t moving
Q: I’ve started my spring markdowns (20-30% off), but they really aren’t moving much inventory. I’m hesitant to mark down further at this point. Is there another strategy I can take?
A: That’s a good question. Here are a couple of ideas that may help: First, reset your floor to make your markdowns look fresh. Then, communicate your original marketing message in a new way. Basically, you’re offering the same markdown but with a different story. After that, get ready to move to the next level of markdowns. Remember that markdowns only have a couple of weeks of life in them.
But, in the meantime, you can pick out the 20 highest priced items that are marked down and assign each item to a seller. Identify a customer for each item and then go after the customer. You may need to offer an additional percent off the already marked down price. Good Luck.
