You survived the holiday rush. PHEW. But if you’re in retail, your work is just beginning. Before you settle in for your long winter’s nap, you still have to count the things. All the things.Here are our six favorite year-end inventory tips to help you get through the process without a breaking into the New Year’s Eve champagne early. We’ll drink to that.
1. Dedicate time to the task. Take the day off or use a series of slow afternoons to dedicate solely to inventory. Focus and keep distractions at bay.
2. Enlist help. Two sets of eyeballs are better than one even with a small shop. Depending on the size of your business, this might involve simply asking a trusted pal to come in for an afternoon. For larger businesses, split your staff into small teams to count (and recount) together.
3. Reward yourself and your staff. Motivation can come in many forms. Order lunch for everybody or bring in a masseuse to give your crew back rubs during their breaks. Give yourself something when you’re done too—you know what you like best.
4. Keep notes upon notes upon notes. After you’ve combed through your products, you might’ve discovered you need a better way to organize them. Or you might’ve uncovered a huge box of plastic dinosaurs that didn’t sell very well this year but will be perfect for your legendary window displays. Make sure you’re not just counting, but making detailed notes that’ll help you be more successful in the coming year.
5. Clean house. Do you have products that have been collecting dust for years, decades even? Even a clearance sticker can’t work miracles. Don’t feel guilty about getting rid of outdated or ridiculously unpopular merchandise. All it’s doing is weighing you down and taking up important space.
6. Use technology to save time and money. Yes, we’re slightly biased. Truly though, the right tools and software can help make taking inventory much less of a drag. A system like Shopventory keeps track of your inventory and sales automatically throughout the year, so it makes those year-end reports and accuracy checks that much easier come tax time. Even if you’re not using a program this year, it’s a perfect time to start since you’ll have all the right information and spreadsheets on hand to upload. You’ll thank yourself next year.