Basics of Markdown Pricing
Maintaining a good level of inventory has been a significant struggle for retailers. If the supply is lower than the demand, it might lead to loss in sales. But when the stock levels are high compared to the demand, it reduces shelf space and decreases the cash flow. This situation presents an opportunity for markdown pricing!
Markdown pricing is a pricing strategy used by retailers to reduce the price of a product to increase sales and clear out inventory. It is especially important in keeping seasonal products profitable and avoiding unnecessary waste and loss.
This Ebook is designed to provide you with a basic, yet comprehensive understanding of the mechanics of markdown pricing and how it can benefit your business.
You will learn about the basics of markdown pricing, including creating a strategy, setting KPI’s, and how to implement them effectively. We will also discuss ways for determining markdown prices, as well as ways to measure the success of your markdown pricing efforts.
Whether you’re a small business owner or a seasoned retail professional, this Ebook will give you the tools and the knowledge you need to make informed decisions about markdown pricing and boost your bottom line.