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 the brands you stock; 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! As you
write your order, ask your representative to total it up as you go, be honest
and upfront with them tell them in advance how much you have to spend and the
reasons why. If you decide at the show, for whatever reason to over spend,
fine… but think where will you cut back?
