The Inventory Talk
June 19th, 2008 by Ann Vertel
Imagine that you finally have a day all to yourself, some money to spend just on you, and a spring in your step as you walk through the mall, intent on reaching your very favorite clothing store. You come upon it and notice there is nothing in the window. How odd. You step inside and find…nothing.
No clothes hanging on the racks.
No mannequins.
No shoes.
Just a big, empty store.
You can almost hear an echo as you call out, “hello?”
Over by the check out counter you see one saleswoman - nervous, shy, and almost hoping you won’t come over. She has a few samples that you can try on - a sweater (not in your size), a skirt (not your color) and a pair of shoes (wrong size, wrong color, AND wrong height!).
She also has a catalog of all the things the store would carry if it could “afford” to have inventory. You can order things from the catalog but then you’ll have to wait to get them. You may just decide to walk out and never return again.
How do you feel, as the customer, at this moment?
I would feel extremely dissapointed and even a little angry. Part of the fun of shopping, of pampering myself, is to walk out of the store with my purchases in hand. I want to wear them today, not in two weeks. We as women are very tactile. Watch women shop and you will notice that, in general, we will walk through any store feeling the fabric, running our fingers over the shoes, trying on the jewelry. We like to look at, feel, smell, try on, and “own” a product before we purchase it.
Growing research indicates that while over 50% of the people who purchase online are women, many of them buy online only AFTER they have actually seen a product “live and in person.”
Paint this “empty store” picture for your new consultant. Ask her how she would feel standing in the middle of that vast, open space surrounded by a few token items. Then paint her a new picture - one of a store teaming with shoppers, standing three deep at the check out, arms loaded with purchases, adding “upsell” items while they wait.
This is the picture she must hold with her when you discuss the importance of inventory. No consultant serious about her business, who wants to succeed and succeed fast, who wants to earn back their investment in just a few months, would come in with inventory under $2000.
Which store does she want? The one with tons of merchandise and exponential profit that offsprings stores to mall after mall?
Or the one that goes bankrupt in two months?
She says she can’t afford to have inventory? She can’t afford not to!
Now go have a POWERFUL day!
- Ann Vertel, UnitCoach
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