2 of 3 - How to plan seasonal purchasing budgets and stick to them
In order to plan your budget spend effectively, there are
several questions you should be asking yourself; has your business increased as
planned, and if not, why not? If it hasn’t, identify the area of your business
or range that has let you down. Consider your brands. Are they still
performing? Don’t exempt your best performing brand from scrutiny. How much did
you spend last year in each area and should you invest more than next season?
Once you have these answers you can look at the OTB (Open to Buy) for next season
and set a spend limit per brand or per product group. Keep to it!
