Ways to Save Money
The following is a brief email that we received from one of our eNewsletter readers, in response to an article we wrote about saving money in your company…
Curt:
Just received your electronic May newsletter and wanted to send you some ways we are saving money.
- Cut utility usage
- Drop non productive associates
- Reduce fulfillment goals from 92% to 85%
- Keep 15% of your OTB in your back pocket
- Only mail your best customers ( we are thinking of prospecting again this summer )
- Drop marginal books
- Flow inventory, more smaller orders, more frequently.
- Keep margins high, but salt the assortment with redlines for the illusion of markdown.
- Offer free personalization instead of a mark down.
We are actually making money on a reduced sales plan.
Hank
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