50 Cents NOW Or $1 In July…Maybe

Which is better?
50 Cents NOW or $1 in July…maybe 1.
Tough question.

After my post a couple of weeks ago about moving out the last of your sale merchandise at steep discounts, I got pushback and many questions about it.

(These are actual emails and FB posts.)

From Lynn:
Freaking out a bit, but also sick of starring at this winter crap! I am also worried that if we do this we are going to be left with nothing! And I worry about my profit! I don’t want this to catch up with me and hurt me later. How many times can you safely take a bath on old goods? At this point we usually pack up what’s left for July sidewalk sales because we start then at 50% off and we usually are not left with much. Thoughts???

From Lara:
Ack! I can’t decide what to do for a Super Bowl sale this Sunday, and I have to write the email tonight (like NOW). Is anyone doing any kind of sale on Sunday? In the past, we did pre-game day on Saturday, $1 off a yard of fabric, then Sunday, game day, $2 off a yard. Cathy suggested using 50 in the promotion, because it is the 50th Super Bowl and doing 50% off clearance. I don’t know if I am brave enough to do that – it would put the fabric below cost. But it’s old inventory that could be turned into cash. but only a little bit of cash. Any golden advice from the smarties?

My response to both was:
LISTEN TO ME: I would rather that you have 50 cents in your pocket NOW then wait until July and MAYBE get $1.

We did this quick video for you.

So that is the secret! Don’t be afraid to take it way down and get the 50 cents!!

Of course this is ONLY after following the Killer Clearance Sale Formula which gives you much opportunity to sell at intermediate markdowns. Any questions – just ask on FB.


Lynn posted: We did over 1800 yesterday and 1600 today! You know how much stuff we had to sell at such discounts to get to that? We moved a Ton of stuff! We have hardly anything left! Our pinkies didn’t let us down! Can I get a woot woot?!

Lara said: Final count was 111 empty bolts. I had several people say “thank you for doing this” when they checked out. Lots was bought by women who sew charity/donation projects, so that was a good thing and it was nice they were thankful about it. But, I have to tell you, I am not sure how I feel about this sale. We got rid of a lot of old product, we put money in the bank, but most of the days sales were below what I paid for them. I think I need some enlightenment on how to view this.

Cathy here – I so appreciate her honesty. She was still struggling – and this is what her fellow Profit Club smarties said:

Maeve: But if you had not sold it what would you have done? 75% of last 3 days was well below cost but I have money and empty shelves. Win win not to mention lots of happy fingers and a few thumbs.

Michelle: AND we can use that money to buy new merchandise that will turn quickly and give us more profit! I’ve been doing this for two years now and my maintained markup is rising despite the SACS and huge markdowns. Keep your chin up, Laura, we all dread that part. I had customers telling me they felt like they were stealing from me. They felt guilty. I told them I had it too long and needed it to go so I can get in something new and thanked them for helping me.

Amber: While it seems counterintuitive, the two years I have been doing this has also improved all my numbers. I have developed several super pinkies who we call and they are there 5 minutes later. And my thumbs love the opportunity to get something they had been looking at for a little less.

Dot: It really does work, Lara! Just like Amber said, my MMU is going up every year despite these whacky sales way below cost at the end. You are going to take that money and make it work now! It’s hard to see it sometimes, but those items collecting dust and making your shop look stale will cost you way more than the money you lost on those few days of bottom barrel blowout. Plus, your customers had a blast and that will make them come back! You most definitely created a Win Win for yourself…

Lara: Thanks for the responses. You know I follow the advice my Maven gives, I needed a new way to view this sale.

Any questions just ask.
I am here to help you!

This blog post is re-blogged with permissions from Retail Mavens. Original blog post can be found here.

DEMDACO City Wrap® How-To

We’ve all been there. How should I wear this scarf? Does this wrap look okay like this? DEMDACO has answered our questions. They have pieced together a how-to series for their City Wrap®. The series consists of 7 short videos, about 30-50 seconds, that gives you the how-to you have been looking for!

Studio M & Mary Engelbriet Launch New Fairy Garden Collection

You may have seen a new face floating around the Studio M showroom locations in Americas Mart last week! That’s because Studio M has debuted a NEW fairy garden line with Mary Engelbreit at the 2016 gift and home markets!

Studio M, creators of the popular Gypsy Garden line, continues to be a leader in the miniature garden category. The company launched Gypsy Garden in 2013, and it has since become one of their best-selling collections. “After three years of growth in our Gypsy Garden line, it’s clear the mini garden category is still on the rise. We’re very excited to partner with Mary Engelbreit to bring the Merriment collection to life,” said Curt Todd, CEO of Studio M.

Merriment stars five unique fairies that were inspired by Engelbreit’s illustrations. Unlike more traditional woodland or pixie fairies, Merriment’s fairies are relatable, contemporary characters that each have their own story and personality. The line also features a wide variety of animals and accessories.

“When we decided to expand our mini garden offering we wanted to bring something completely unique to the category, and Mary Engelbreit was the perfect artist to collaborate with on this project,” said Anne Brown, Studio M’s Director of Product Development.

Mary Engelbreit has been one of the best-selling art and lifestyle licenses in the industry for over 30 years. Her new line with Studio M was created exclusively for independent retailers. “Merriment has so much personality – we put so much character into each fairy. It’s the kind of line my fans just love, and I think even people who aren’t familiar with my drawings will connect with the fairies we’ve created.”

This blog post was adapted from a press release written by Studio M.


Vendor Spotlight | C.R. Gibson

Article was written by Vicki Shead; OneCoast Territory Manager/C.R. Gibson Line Leader

BDC.R. Gibson is thrilled to say our NEW BABY DUMPLING line has been a PHENOMINAL Hit!!! Customers are LOVING our new addition and can’t get enough!!
The Baby Dumpling line is wrapped in love and backed by CRG’s 145 year history of making quality baby products for specialty retailers.

Did you know?
Baby Dumpling apparel is made of the finest quality 100% combed cotton, for its thick feel, superior fit, easy care and incredibly soft touch on baby’s skin.

• Select garments feature French terry fabric, with smooth fabric on outside, and tiny loops of yarn on the inside which wick moisture away from the baby.

• This boutique baby brand with attention to detail are packaged either on a white satin hanger or our unique, beautiful boxed packaging.

• Designed with the retailer and consumer in mind, the packages have an open front, allowing customers to feel the “ahhhhh” so soft fabric. Our easy slide, tray boxes open to the side so customers can see what’s inside without having to pull items out of the packaging.

Baby Dumpling was designed to mix beautifully with selections of our memory book collections, gift bags, keepsakes and other gifts.

• We offer easy 4 foot and 8 foot plan-o-grams for your slat wall.

• Choose a variety of collections such as Heaven Sent, Hush Little Baby, Little Fair and the oh so chic and trendy Dear One.

• Why not plan an event? How about a Sip, Shop & Save!! Invite customers to come shop for that perfect gift, have some refreshments and save a little cash!

Want to have some C.R. Gibson fun? Contact your territory manager today!