Gift shops are a bit like ducks – elegant and calm on the surface and paddling furiously underneath. Certainly that it how it is with managing stock in gift shops.
We are spending considerable time with gift shop owners on strategies for better stock management. It’s not as straightforward as it seems since what sells today will not necessarily be replaced with the same item. Our work is in tracking categories, ‘captions’ and price ranges. This helps with buying one-off items to fit the range which has sold.
The work we are doing with gift shops has relevance for newsagents and jewellers and will result in enhanced reporting and management tools for these markets.