How do I determine and weed out my slow selling lines?
Profit margins are the first numbers to look at to determine and weed out slow selling lines. Although determining a profit margin can be a useful tool to determine your business’ success, there isn’t a one-size-fits-all profit margin retailers should hope to achieve. Rather than determining your margin based upon somewhat arbitrary industry averages, you’re best suited to projecting reasonable profit goals, and attempting to set your profit margin to meet those goals. After you determine a profit goal, work backward to determine the margin you need to achieve to reach that goal.