To prepare for the big fall selling season, you’ve been working to get everything in stock that dancers need to build their back-to-school wardrobes—plus a few delicious surprises to tempt them into buying even more. This issue has plenty of fresh classwear looks, from classic cut leotards to tap shoes for hoofers of all levels. Plus leggings that make a definite style statement.
But every successful retailer also has an eye on the bottom line at all times. The inventory of a small store is often its biggest asset, and purchasing inventory is probably a storeowner’s most difficult and critical job. What will sell, and at what margin, you ask yourself. Three experienced storeowners share their tips for how they stay organized and on budget with their year-round buying.
New Fall Colors
Merchandising expert Leslie Groves has a three-step strategy for wooing customers to buy on-trend colors (page 22) and avoid costly up-front buying mistakes.
Dance Dads Rock—and Buy
It’s the month when we celebrate fathers, and it turns out that retailers have an extra reason to do so. Dads are taking on more of the shopping responsibilities, and a marketing study recently found that they can get enormous emotional satisfaction from spontaneous purchases for their kids. So how can storeowners help? Group items together: Dads prize convenience over price. Help them imagine their kids’ reaction by suggesting small gifts they can enjoy together. Dads in the iModerate study reported that when they bought their child a small spontaneous gift, especially one that would create a shared memory, their kids made them feel “amazing.” They felt appreciated—a cool dad—for being able to provide for their family.
Speaking of Cool Dance Dads
Talk to Us!
Did you buy your dance store from another owner? We’d love to hear how you and the seller decided on a fair price. What was factored into the deal? Inventory? Goodwill? Taking over a lease? E-mail us at DRNeditor@gmail.com.
Courtesy of Mary Ann’s Dance and More