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Too Many or Too Few Brands?

July 11, 2012

For the average salon the belief that the more brands you have the greater your potential for retail sales is simply false. Large inventory levels, product cannibalization, ordering and stocking time for multiple small vendors etc. can all deplete your profit potential. In addition, there can be numerous benefits from having fewer vendors such as lower inventory, more dedicated service, higher reward levels and access to exclusive perks. The most critical factor in determining the appropriate number of brands to carry is to ascertain where your retail sales are coming from – service clientele, walk-ins and/or retail only customers. Of course the only way to do this well is to track your retail sales, and the type of retail clientele you have, using salon/spa software. Knowing this information is essential if you are to maximize your retail opportunities.

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