Tips to manage markdowns

1. Cut quick and cut deep. Excise the demon dogs whilst in season.

2. Buying mistakes, broken colours, sizes or assortments = markdowns.

3. Move permanent markdowns to a clearance area/ clearance table.

4. Don’t scatter the stock, scatter the signage to point to the clearance stock.

5.  Put your markdowns in less productive areas – don’t let the markdown cancer eat your high margin display space. Let the price do the work.

6. Train your sales staff to up-sell and cross-sell or simply move as much as possible.

7. Go  “ON SALE” twice a year at most. Constant discounting is a race to the bottom.

8. Donate old stock.