Tariffs
Beginning around now, a 10% tariff is going to be charged on some of your new purchases. Merchandise won’t have the same costs as was expected when the items were priced out earlier this year.
Beginning around now, a 10% tariff is going to be charged on some of your new purchases. Merchandise won’t have the same costs as was expected when the items were priced out earlier this year.
We’ve all gotten our share of small paper cuts, which might sting a bit, but are quickly forgotten. However, if you were to receive 1,000 small paper cuts all over your body at the same time, you would certainly notice them!
We were attending a trade show a few weeks ago when one of our clients walked up to me and said, “I’ve never been so bored at a trade show”.
I mentioned to him offhandedly...that we work with jewelers who have very impressive top line sales...with very low net profit as well as challenging cash flow, to which he simply said: “Vanity, Sanity & Reality”.
When you think about the budgeting process (work with me here) you have to look back at your history, sales and margin trends and changes in expenses, inventory levels and profit. Zzzzzzzzzz… So, don’t look back, look forward.
Cars take up space. Inventory takes up dollars. A well oiled merchandise highway allows plenty of space (dollars) for new product to enter from the right, and move from lane to lane without obstruction. As these products accelerate, other merchandise gets out of the way to allow their passage. They beep and wave as they go by, and exit off to the left at often blazing speeds.