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How Smaller Assortments, Lower Inventory Levels Can Maximize Post-COVID Success

Retail TouchPoints

Retailers, particularly those in the apparel, footwear and soft goods verticals, have an opportunity to turn the lemons from COVID-19 into lemonade, according to Keith Jelinek and Richard Maicki, Managing Directors in the Performance Improvement Practice of Berkeley Research Group (BRG). Richard Maicki.

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Forever 21: 4 Reasons it Failed & Filed for Bankruptcy

Indigo 9 Digital

Source: Bloomberg "[Forever 21] has lost much of the excitement and oomph which is critical to driving footfall and sales and is now something of an also-ran which is too easily overlooked," said Neil Saunders, the managing director of GlobalData Retail. By 2019 Forever 21’s sales declined from a peak of $4.4 billion in 2019.

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How to Get Results from your Big Data with Retail AI

Retalon

Businesses collect more data than ever before and from every aspect of the supply and demand chain—logistics; vendor compliancy/lead times; POS data; inventory levels; traffic cameras; prices; markdowns; consumer behavior; demand forecasts; and more. Merchants and inventory managers attended more co-planning meetings.

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5 Vital Considerations for Big Data Analytics in Retail

Retalon

Retail businesses collect more data than ever before, and from every aspect of the supply chain, including: Logistics data (vendor compliance, lead times, etc.). Prices (markdowns, promotions, competitor prices, etc.). Predictive analytics systems go beyond traditional forecasting by letting you unify processes within your business.

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The Future of Retail in the New Era of Risk

Retail Prophet

Soon, merchants everywhere began to experience what many thought could only happen in third-world economies and banana republics – panic buying, empty shelves and bottomless backlogs to fill them. McClean had managed to reduce the cost of loading and unloading cargo from $5.83 It proved a short journey with long lasting consequences.

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The Big Difference Between a Sales Forecast vs. a Demand Forecast Explained

Retalon

Demand forecasting is the process of removing the effect of factors that influence sales data to uncover true past demand for your products at all locations and channels. According to a 2019 McKinsey report , retailers that use advanced analytics are outperforming their competition by over 68% — with the number growing exponentially.