4 May

7 Tips to Create the Right Product Assortment for Retail

7 Tips to Create the Right Product Assortment for Retail - WFS
There is a lot to consider when it comes to product assortment for your boutique. To help, here's a guide of tips. The product assortment is sometimes called merchandise mix. It refers to the variety of products you sell in your shop that gives your customers options and promotes the overall theme of your brand. When customers decide what they want to shop for, a store will pop into their minds. For example, if they are looking for quality makeup options, they may think of Sephora or Ulta. If they are looking for fancy underwear, they may think of Victoria's Secret. Your brand must find a way to pop into your customer's minds whenever they need a particular type of clothing and...
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25 Feb

How To Create a Successful Boutique Business Plan

How To Create a Successful Boutique Business Plan - WFS
It can be overwhelming to think about a boutique business plan. Luckily, here is a helpful guide to get started. If your goal is to open a fashion boutique, then you need a plan that could win an Olympic gold medal if there were such a category. The plan must turn your small space into a unique, trendy hot spot. Plus, it must show the various ways your profits will grow. You need to create a successful boutique business plan. This may sound complicated. We get it. That’s why we put together a list of tips to help you in the process. What’s Your Boutique Type? Choosing your type of boutique is deciding how you will make money. Consignment boutiques make money by selling...
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18 Jan

The Importance of Demand Planning in Retail

The Importance of Demand Planning in Retail - Wholesale Fashion Square
What is demand planning and how does it benefit your retail business? Here is everything you need to know. If your customers want a product, but you don’t have it, they will buy it somewhere else, and you lose money. If you have an ample supply of a product that nobody wants to purchase, you get stuck with the products, and you lose money. Here are the statistics to back up the importance of demand planning in retail: 65% of retailers consistently run out of stock of in-demand, fast-moving products. Also, 63% overstock and end up with too much inventory of slow-moving products. It gets worse. According to reports, out-of-stock retail items account for $634 billion in lost sales every year. Overstocks...
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5 Nov

9 Retail Pricing Strategies to Help Boost Sales

Retail Pricing Strategies - Wholesale Fashion Square
As a retailer, it's crucial to stay competitive. Retail pricing strategies will help give your boutique the competitive edge it needs to stay ahead of your competitors. Why is pricing a product so hard? It shouldn't involve emotions, so why do we have feelings about it? The reason is that pricing is one of the most challenging parts of owning a business. You want to be fair to your customers, to yourself, and of course, you want to make money. You worry that if you price it too high, no one will buy it. Or, if you price it too low, it will sell out quickly, and you could have made more money by pricing it higher. You are not the only one...
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