Recently we had a 50 percent off sale on our back-issue comics. It was fun, and it was very profitable. Of course, there are those few customers who want a deal better than the half off price. I don’t generally mind being asked about whether a better deal can be had, but when things are marked 50 percent off already - I don’t consider that a sign that more haggling will be appreciated.
When people hear of a deep discount sale, they often assume you are going out of business, or struggling. While I have space to accommodate about 60,000 back issue comics, my concern is that I need to turn my entire store’s value (cost of goods) at least four times a year to be viable, and more like six times a year to be healthy and profitable. With $40,000 tied up in back issues (and doing about $500 a week in sales of back issues) I am currently not turning the inventory value even once a year.
Which means I either have to make that section sell much faster, reduce the overall cost of goods in that section (and correspondingly reduce the footprint for that line of goods), or eliminate back issues from what the store offers. So, we had the big 50 percent off sale. We moved thousands of books, and made thousands of dollars. And the crew rejoiced!
In the midst of that sale, of course, we got people who wanted 50 percent off on items we had no intention of liquidating - like Magic boxes, Yu-Gi-Oh! boxes and others. Basically, on sections of our inventory that have turn rates in the 20-times a year range. For example: Pokemon merchandise has $2,500 cost of goods in my store, and we turn that about 11-times a year. No need or reason to liquidate or price slash that product line.
Overall, that doesn’t really bother me. But, one customer in particular said something that caught me off balance. Upon explaining that we would not be price-cutting our line of Five Nights at Freddy’s merchandise, the woman said “Well, when you go out of business, I will pick it up for pennies,” as she went stomping out.
My thoughts was: Really? You are literally rooting for my business to fail so you can save a few dollars on a t-shirt or plush? Nice.
Forget that my family of six relies on this business for our livelihood. Disregard that I employ six people, two of whom are heads of households with kids. I guess it doesn’t matter that we support local schools, churches, scouting groups, youth sports, and other charities with donations, promotions, fund raisers and event hosting.
What is important is that we fail so you can save money on a t-shirt or stuffed animal.
I do enjoy what I do here. I consider myself fortunate that I work in a business I own. I enjoy my job, and most of the people I come in contact with. I never dread going to work. Not once in 26 years now (that’s from when I got out of the Army in 1990). But, occasionally, I come in contact with a human being that just makes me think that they should hire an attorney and file a lawsuit against their parents for malpractice.
- DC Rebirth was a great read, and we sold out in one day.
- Afterlife with Archie was less than awesome. Because issue #9 finally made it in - even though it was a year since the last issue for that series, and nobody wanted it. (No, seriously - nobody.)
- Our new blank cover rack has spawned many sales for us since we got it in.
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The opinions expressed in this column are solely those of the writer, and do not necessarily reflect the views of the editorial staff of ICv2.com.
