Have a budget. All inventory buying should be based on your budget. The budget should have a provision for unexpected opportunistic purchases.
Live within your budget.
Do not run customer accounts unless absolutely necessary. Introduce a financial penalty (administration fee) for people who do not pay on time.
Offer pre-paid preorders. For example, calendars of specific dog breeds or personalised Christmas ornaments. You get the cash weeks before you have to pay for the goods.
Implement an inventory buying approval process. This deliberately slows inventory purchase decisions. That slowing could see you have second thoughts about a purchase. The buying approval process could be having someone else who has to agree on purchases. It could also be you holding off approval for 24 hours.
Buy to attract shoppers not to fill the shop with what you like.
Beware reps who want an order on the spot.
Be frugal with labour costs.
Dead stock you have paid for is worth something. Dead stock has no value if you don't sell it. Even getting cents in the dollar could be better than getting nothing.
Maximise traffic hot spots. Traffic hot spots in your business are ideal for driving impulse purchase decisions. The counter, near the front door, lottery counter, your absolute top selling products. Leverage these spaces with impulse purchase products people can add to their basket.
Use discount vouchers. These drive people to either purchase today or come back before the voucher expires. They make customers more valuable to you.
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