Set up an "Extreme Value" showcase...

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YOUR TIP FOR DECEMBER 29, 2009
SET UP an "Extreme Value!" or "Say Good-bye to Our Friends" showcase.
WHY?
Business is likely to be patchy in 2010, so you don’t want to be caught with a lot of debt and a pile of old inventory at the start of the New Year.
HOW?
If a customer comes looking for a post-Christmas discount, escort them to your Extreme Value Case. Offer up to 70 percent off to get rid of any pieces more than 15-18 months old. If a customer wants a discount on a new item, agree to trim the price on the condition she pick up a bundled collection of gifts (Maybe something for your niece?) from the markdown case.
SOURCE: David Geller

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