Karen Alberg Grossman: Rather than by category or brand, try merchandising by “big idea.” The trick: finding the big idea.
By Danny Paul We all know of great stores in the industry, but what makes a store that way? It’s never one big thing—it’s generally hundreds of little things that make stores special and exciting. On the other hand, failure isn’t ever attributable to one big thing either (although when stores fail they always attribute […]
By Danny Paul In the fourth installment of Danny Paul’s series on specialty store strategy, he looks at the evolution of maintained markup in the new economy. Until the middle of 2008, beautiful merchandise drove sales and price didn’t seem to matter. But the world of luxury menswear has changed in a very big way […]
Optimal inventory turnover rates have been affected by the greater prevalence of in-stock programs. By Danny Paul In Danny Paul’s first column, in MR’s April 2011 issue, he outlined a comprehensive business plan for a men’s specialty store. This month, Paul discusses one of the most important issues for specialty retailers: proper turnover. Most menswear […]
How to make money in the new economy In the first of a monthly series, consultant Danny Paul goes back to basics with a business plan for independent specialty stores. Retailers have spent the last 30 months cutting and trimming; now it’s finally time to stage your business for growth! But to assume business will […]