Last Minute Markdowns

by Steve Pruitt

Q: Christmas is a little over a week away and my business is doing just okay. Should I start taking deeper markdowns?

A: It depends on how you’re trending. If you’re still doing as well as last week and don’t feel that you are really missing any trends, then stay put. However, if you are starting to see sales slow, you may want to consider taking another 10% to 15% off, but try to keep your total markdowns in the 30% to 40% range.

If you do decide to move to a steeper markdown, do it now. You won’t have any way to advertise the cuts if you wait until the weekend or next week.

Date answered: 12/16/2009
Question raised by: Mark