When brands need to reshape their portfolio and close stores, they face the challenge of improving Like-4-Like performance at the remaining points of sale. The two product strategies introduced here help improve the top and bottom line of your P&L.
Improving like-4-like performance often focuses on mechanics and triggers that can be influenced by sales staff and a retail organisation. Surprisingly, it often excludes an honest evaluation of the assortment’s performance. This article shows how improving hit rate and using best seller potential can push sell-through, create incremental sales potential, reduce mark-downs and improve the gross margin. (more…)