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As the Holidays Approach, it’s Time to Rethink Retail Pricing Methodology…and AI Can Help

Retail TouchPoints

In addition to this timing variation, over 60% of shoppers plan to do their browsing online, yet 85% expect to buy at least one product in a store. Add it all up and it’s clear that the timing duration, and location of holiday shopping is not like the old days. And don’t forget the shopper looking for that end-of-season deal.

Markdowns 251
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Avoid Inventory Imbalances by Leveraging Retail Predictive Analytics

Retalon

The result of unreliable projections are inventory imbalances: mistakes in planning, purchasing, and inventory management, resulting in inventory levels that don’t match actual demand. Retailers carry tens or hundreds of thousands of SKUs, far too many for buyers to accurately forecast every product at each channel/location.

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Avoid Inventory Imbalances by Leveraging Retail Predictive Analytics

Retalon

The result of unreliable projections are inventory imbalances: mistakes in planning, purchasing, and inventory management, resulting in inventory levels that don’t match actual demand. Retailers carry tens or hundreds of thousands of SKUs, far too many for buyers to accurately forecast every product at each channel/location.

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4 Critical Steps for Optimizing Omnichannel Order Fulfillment in 2021

Retalon

direct-to-consumer e-commerce orders), retailers now have to worry about fulfilling orders across multiple complex channels and B&M locations. Instead of turning every B&M store into a fulfillment node, some retailers have realized massive cost savings by centralizing fulfillment to a select few locations.

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Improve Key KPIs & Meet Yearly Goals with Predictive Analytics

Retalon

All costs associated with the transfer — from logistics and store capacity to demographic diversity and the sizes and colors most likely to sell at the specific location — are incorporated automatically. In-Stock Percent. But for most retailers, the restocking process doesn’t begin until inventory starts to run low at a specific store.

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Improve Key KPIs & Meet Yearly Goals with Predictive Analytics

Retalon

All costs associated with the transfer — from logistics and store capacity to demographic diversity and the sizes and colors most likely to sell at the specific location — are incorporated automatically. In-Stock Percent. But for most retailers, the restocking process doesn’t begin until inventory starts to run low at a specific store.

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The Future of Retail in the New Era of Risk

Retail Prophet

In 1956, after almost two decades of planning, McClean’s musings became reality got when he loaded 58 metal containers in Port Newark onto the S.S. The result is slow turns, deep markdowns, write-offs, and heaps of dead stock in warehouses, much of which eventually becomes landfill. A huge saving of time and labor, he thought.