Offering your consumers the ability to return products because they’ve changed their minds is a great policy. Knowing what to do with products that have been returned and can no longer be sold as new is something all retailers need to tackle.

This Nanocast™ 32 looks at 3 things that can be done with returned products that can’t be put back onto the shelf to resell as brand new.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Description

More isn’t always best and when it comes to trying to decide which option to choose as a consumer, too many options leads to deferring the purchasing decision.

This Nanocast™ talks about how offering 3 choices is the best.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Weeks on hand and weeks of supply. It’s the same but different.

This Nanocast™ will inform you on what the difference is.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Merchandise planning is not as well known a function as buying and it is a function that is often misunderstood.

This Nanocast™ looks at the blurb on the back of a book written for those who want to know more about merchandise planning.

Buy the book

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Knowing you could have sold something if you had it is not a nice feeling, particularly if it is something you usually had available to sell.

This Nanocast™ gives a brief explanation of what lost sales is, how it can happen, 2 ways to measure lost sales and the effect lost sales has on a retail business.

That is a lot of information packed into less than two and a half minutes.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Choice is always a good thing and that is why we have options.

This Nanocast™ gives a brief explanation through the use of an example of what an option is.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Like it or loathe it, tax, specifically goods and services tax, is something that should be understood as a NMR - Nano and Micro Retailer.

Understanding goods and services tax allows you to price your products in a way that allows you to charge the customer the tax and you as a business owner can also benefit by claiming back the tax portion of purchases you make.

This Nanocast™ gives general information about tax. To get more information, speak to your accountant who is better positioned to give information specific to your situation.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

What margin do you make?

All retailers should know what margins - both margin rate and margin value - they make from the products they sell.

Do you know what your margin is?

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

The title of this Nanocast™ either fills you with glee or trepidation.

People have a love hate relationship with inventory. Inventory is loved when it flies out the door, however when it sticks around and doesn’t move, it’s disliked.

This Nanocast™ defines what inventory is and shares a few things about inventory.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.

Having cash to spend when you need it is what all retailers strive for. Yet sometimes, the more that is sold, the less cash is available.

Why is that?

No matter the reason, having cash available when needed keeps a retail business going.

This Nanocast™ for nano and micro retailers (NMRs) gives ways in which cash can be freed up.

Terminology

NMR = Nano and Micro Retailer - listen to this podcast to find out more about NMRs.

Merchandise Planner - Listen here to find out what merchandise planning is.