Do you have a brick-and-mortar store? Let's talk about one topic that is unavoidable when it comes to sales, markdowns. Markdowns are necessary for retail so we can turn products fast and make room for new merchandise. So what's the best way to do this? Personally in my boutique, we have a rack called "The Last Chance Rack". This rack is designed for items that only have one size left, or for items that I need off my sales floor. Every item on this rack is 10% off. The fact these items are typically the last of their kind makes it hard to visually display with any other merchandise. I have found that for every 6 "Last Chance" items I can pull from my sales floor I can put an entirely new product out with a full-size run.
"The Last Chance Rack" is also one of the most popular places customers like to shop from because we explain to our customers that this rack is full of items that AREN'T on sale. These items were so popular they flew off the racks and there is only ONE left! This has worked so well for my store for the last 10 years, you should try it in your store too!