Although the idea of optimisation is usually associated with the design and planning phase of a retail store, it can also apply to marketing and sales. This is because the products we choose to stock will ultimately drive the decisions and choices we have on how to manage our inventory.
The retail industry is so vast that a single shopping center can actually have two or even three distinct retail brands. I know this because I was once in a store where three different brands were on display (two of which I had never seen before, one of which I was wearing).
I have a friend who runs a retail shop. They have three different brands of shoes (one of which is a $20 pair). The shoes are called “A,” “B,” and “C” and in the store’s inventory each brand is listed under the brand name and serial number. One day, I took a break from my usual running to the sales floor to visit the store.
In this case it’s a retail store I go to. The brands are on display for a short time, and then they’re gone. I can’t say I mind this – these are brands that I would have to buy a pair of shoes for, and I’m a sucker for a bargain shoe. The sales floor is in the basement of the building, so it’s a bit of a walk to it.
You have already seen this technique in action in the movie _The Matrix_, and it can be used to optimise items in many different ways. It is used to solve a problem where a particular brand of an item is out of stock in a particular store. It’s essentially a “buy once, resell everywhere” strategy. I have used the technique myself to optimise my old clothing for my own wardrobe.
I’ve also seen the technique used to look for a specific brand in a particular store and get in touch with the store’s owner to get the goods in stock. You can of course take the technique and apply it to a wider array of retail situations, but its certainly a nice technique to have on hand when you’re running a store and a particular brand of product is out of stock.
This strategy is one of the more popular ways to use the buy once, resell everywhere (or B.R.E.A.R.) model. I usually suggest this strategy to people when theyre getting rid of old clothes. If you have a large inventory of items that you would like to sell, then you can set up a B.R.E.A.R. account (free) and sell the items from there. B.R.E.A.
This is the same idea as a buy once, resell anywhere model: If you have a product that is in high demand, then you can sell it on the cheap and re-sell it at a profit. But, like with other strategies, it is important to find the right time to sell. When you go to a store or buy a product, you are most likely in the right place to sell.
The reason why it’s important to find the right time to sell is because it’s the best time. It’s the best time to find the right price, so if you’re selling at $60 on a Saturday and the price is only $30, the price should be lower than it is today.
This is why I think selection and assortment are two of retail’s biggest selling features. It is not that you can just go out and buy every product, but that you can just go out and buy a good selection. In the case of the supermarket, you can go into the produce section and buy a lot of different things at the price of just one item.