Is cutting products the key to profitability?
The answer may surprise you. Everyone knows that having the right product at the right time is critical to ultimate customer service and profitability. And that honing your merchandising analytics is key to ensure correct product selection, consistency to brand and profitability. But when you look at your product sales data, what are the numbers telling you?
Learn which merchandising analytics matter
In this Pub session, George Mollo will discuss the importance of looking at category/item and department relationships, and how simple metrics can improve your product selection, item productivity, space productivity, and drive increased margin by identifying the target price points within your categories.
A case study in profitable pruning
Using data from a catalog project that produced remarkable results, George shows you step-by-step how he determined which areas were profitable and which needed help. Using simple tools and providing good “rule of thumb” advice, George explains how to analyze your product data to do your own pruning for profitability. In the end, dropping pages and products was the key to getting the catalog back in the black.
George will show you how several key profit measures can easily be kept “top of mind” when product is selected to help drive future strategic product and management decisions.
