Make Informed Decisions and Plan Future Growth with Blacks Analytics
If you are like most retailers, you’ve probably invested in an expensive inventory system that crunches your data and spits out a series of reports. These systems can be crucial for measuring past performance but they rarely give you the kind of information that drives business planning. Also, your inventory system probably doesn’t give you [...]
Fall Buying Guide
Soon menswear retailers will be going to market to do their buying and planning for fall. If you are one of these retailers or buyers, keep in mind that the environment has changed significantly over the past 12 months. To help you navigate this new climate, here are a few rules of the road: Do [...]
Using Your Data To Guide Future Performance
By Steve Pruitt, Senior Consultant, Blacks Consulting
Most retailers now know how important it is to have access to rich and accurate data, enabling them to track their business. We use this data to create sales plans, merchandising plans, and financial plans. But how often do we use this data to actually shape our performance? The answer is not often. This is because many of us don’t know how to use this information to make substantial changes to our business.
At Blacks, we’ve developed a simple formula to help retailers guide and shape their businesses into the future. We call it Acid Analysis. With Acid Analysis, you can examine past sales and gross profitability, as well as performance into the future.
About Blacks Planning Services
Merchandise Planning is putting your store in the best position to succeed:
- -Uncover the trends within your business
- -Determine growth areas
- -Discover how to flow merchandise and maximize cash flow
- -Know your open to buy, by class, by store
- -Ensure a disciplined and regular analysis of your business, allowing you to shape future performance
