10 months ago

1 year ago

Our next networking meeting is Tuesday 10th August 7.45am-8.45am via Zoom. A great chance for local businesses to connect. To attend please just drop me a message.

1 year ago

Our next local networking meeting takes place on the 13th July 7.45-8.45am. A great informal way for local businesses to connect. The speaker slot this month is 10 steps to success on Linkedin. ... See more

1 year ago

Our next networking meeting is Tueday 8th June 7.45-8.45am. If you would like to come please follow the link or message me. All ... See more

1 year ago

Our next local networking event takes place Tuesday 13th April. We would love to see you there please sign up using the link below or drop me a ... See more

1 year ago

First radio interview I'm on at 21.26 if you fancy a listen talking all about Min2Max!!

1 year ago

We have our next meeting on the 9th March 7.45am-8.45am. A chance for local businesses to connect. All welcome

1 year ago

Breul create amazing unisex bags. They are looking to gain consumer insights to help influence future ranges. If you use a bag and have a couple of minutes could you please fill out the ... See more

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Please click to sign up for my free sales and stock planning e-mails focussing on coming out of lockdown.This weeks focuses on stock hibernation. Great feedback so far so don't delay.https://min2max.co.uk/sign-up-for-our-free-newsletter

Gepostet von Min 2 Max Merchandising Consultancy am Donnerstag, 25. Juni 2020

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Please sign up for my free weekly e-mail offering stock support tips and techniques to get your business in great shape as we come out of lockdown.

Hibernating Stock

Hibernation is a word I’ve not heard for some time, probably since Primary school.  It conjures up images of hedgehogs and squirrels hunkering down for the Winter, bellies full and ready for a long cosy sleep ready to awaken in the Spring to a new start.  It always sounded very appealing!  Hibernation in the last few weeks has come to mean something entirely different when M&S declared they were going to put lots of their SS20 stock into “hibernation”.  Mainly basics that wouldn’t date locked away securely and safely, ready to be brought back out in SS21.  Next followed suit and it is estimated that 15% of their SS21 buy will be made up of SS20 product.    

Is it the right thing to do?  Absolutely! If you do not need to liquidate the stock into cash and can keep the stock in saleable condition, keep it and plan it in as part of an upcoming range. And that it the key phrase in all of this “Plan it In”.  I am a firm believer that all lines of product should be profiled as to the role they play within your business.  What do I mean by that…  I think there are two very simple ways every Retailer should profile their stock.  You can add more finesse but as a minimum this will do it.

Is your line a core line – is it very predictable in terms of it’s forecast.  Is it likely to roll on for Seasons with little need to change it. (as in the M&S example of keeping basics in hibernation ready for next year).

Is it Heat? Is it there to service a trend or a moment in time.  Think the bright acids around at the moment.  How long will they be around? These are the lines that unfortunately are likely to need to be discounted to clear before the end of the Season.

So back to the point on planning it in.  Your planning tools should include the hibernated stock (on Buygrids, line plans etc)  These lines are just as important as anything you are buying in as new and you need to ensure you don’t buy into anything that could potentially cannibalise sales.    You should also ensure your open to buy includes this stock so you do not overbuy for the upcoming season.  

Covid-19 is forcing the conversation on excess stock and planning. A conversation some might say it well overdue. Watch out for more blog posts coming soon.