Retailers Forum Nov. 2021 EMAG

OFFICER’S COMPENSATION
As the store owner and operator, the visionary
behind this specialty store, selecting the right
inventory mix is one of the most critical decisions
you will make. A store is what it sells, and
selection is what sets the specialty store apart
from its competitors. Your decision to open the
shop is based on the opportunities you see in
the market, opportunities to give consumers a
selection of merchandise, backed by service,
not available anywhere else. The research that
went into your decision to open this particular
type of shop equips you alone with the insight
to make the right decisions on selecting merchandise.
Everything else about the business
depends on what you decide will fill your
store’s shelves. Retailing giants employ buyers
forumworkshop
FORUM WORKSHOP
and product managers who take care of the selection
and purchasing of products. As the
owner operator of the specialty store, it’s your
call, from start to finish.
Selecting inventory is easy; selecting the right
inventory poses much more of a challenge. You
must know the products, and what your competitors
are doing, and devise an appropriate
response. Product selection is all about positioning.
It’s one thing to stock every item in a
category; it’s quite another to selectively choose
those products that enhance your reputation.
➧❦
That’s something you won’t accomplish
by mixing & matching from
among the brochures and catalogs
salespeople drop by your office.
continued...
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NOVEMBER 2021 | RETAILERS FORUM MAGAZINE