Slashing inventory? not so fast

Over the weekend, the Washington Post ran an article about how some of the nation's biggest retailers—-Macy's, Walmart and J.C. Penney-- have slashed inventory and cut back on staff as consumers continue their frugal ways.
After last year's holiday season, retailers of all sizes were left with inventory they had to clearance out after the holidays. This year, retailers big and small, are making do with less and carrying less backstock.
On Nov. 7, The Gourmet Gallery's owners Cindy Utecht and Janet McDonald hosted their annual holiday open house at their two Oklahoma City area stores. For the holidays, they lease a 3,000 square foot space to house their wildly successful custom gift basket business and to store excess inventory. After 8 years in business, Utecht and McDonald thought they were adequately stocked for Q4. They were wrong. At the open house, they sold out of at least 5 items -- and had to reorder them last week. You can read more about The Gourmet Gallery here.
Here's to a prosperous holiday season.

Anna Wolfe
editor of Gourmet News
520.777.1402