There are many strategies and tools that retailers use to boost their operations, whether its point of sale software, loyalty initiatives or marketing efforts, among other factors. Another method that significantly helps merchants is Open to Buy planning, as this gives businesses more insight into their inventory and its related aspects for a clearer view of current processes and performance.

Retailers that want to know more about Open to Buy and how it can benefit their companies can sign up and tune in next Thursday, June 13, for the Retail Pro webinar on the strategy. Registration information can be found at https://www2.gotomeeting.com/register/380156530.

Independent Retailer writes that Open to Buy is vital for any merchant that wants to succeed. Without having a clear picture of inventory and how stock levels support sales, businesses could experience setbacks, such as a failure to accurately forecast future inventory needs and know when markdowns should occur. Perhaps the most detrimental factor that comes from lacking an Open to Buy planning process is lost sales, as customers will go elsewhere to find the products they want.

Companies can avoid these problems by developing an Open to Buy plan, and interested retail industry professionals can learn all about the strategy at next week's webinar.

During the economic recession, many retailers throughout the United States took a big hit in terms of customer retention and sales. Now, conditions are picking back up, and so too are the positive outlooks of businesses for the coming year.

DC Velocity reports that at the recent Retail Chain Supply Conference hosted by the Retail Industry Leaders Association, many industry professionals said they are optimistic about 2013 and they believe the steady economic recovery will result in more growth for their companies. A survey was conducted at the event, and 52 percent of attendees said they have a positive outlook for 2013, while 28 percent stated they are still uncertain about the nation's economy and their own operations. The remaining 20 percent are slightly pessimistic, the poll found.

This boost in optimism among retailers matches the growing confidence of American consumers. The latest Consumer Confidence Index from The Conference Board rose to 69.6 for the month of February, a sharp jump from January's figure of 58.4. While impacts from the fiscal cliff deal seem to have affected last month's index, individuals are learning to cope with the change and are becoming increasingly confident in their financial conditions.