Retail Smart Guys

FEBRUARY 14, 2023

Going over your inventory, finances, open-to-buy planning, etc., Well, this can be true if you are not using the right approach in handling multi-store accounts. So, with a by-store location plan, retail owners can comprehensively view each store based on their sales trends, turns, differing customer bases, and more.

Planning 40

Planning Markdowns Finance Location 40

Retail TouchPoints

OCTOBER 15, 2021

More and more, that means rethinking product development and expanding their sizing and assortment planning to represent a wider range of sizes and body shapes. But it’s still true that only a small fraction of the fashion retail market has put tactical plans into place to support this significant consumer base. billion in the U.S.

Consumer 290

Consumer Merchant Services Markdowns Fulfillment 290

Retail TouchPoints

FEBRUARY 2, 2022

Many retailers are worried that they don’t have all the data at their fingertips, like product data, customer data, transactional data, when items sold, on what device and more. Everyone starts somewhere, and it’s OK wherever you are at in your data journey. Begin with what you have and build a plan to fill in the gaps.

Retailing Pricing 238

Retailing Pricing Markdowns Accounting Outdoor 238

Retail Gazette

MARCH 11, 2024

The retailer was acquired by a group of investors at the end of January 2023 after a fierce battle with founder John Hargreaves. Matalan revealed last October its EBITDA came in at £47.9m to £1.15bn due to price increases, however EBITDA plunged 37.2% to £124.1m and operating profit before exceptionals spiralled almost 80% to £18.7m.

Markdowns 59

Markdowns Fashion Accounting Planning 59

Retail TouchPoints

NOVEMBER 25, 2020

At Mejuri, we view data as a strategic asset, especially when it helps us create more compelling customer experiences,” said Majed Masad, COO at Mejuri in an interview with Retail TouchPoints. Retailer Plans to Use Solution Across Multiple Channels.

Markdowns 197

Markdowns Fulfillment Shipping Marketing Spend 197

Inside Retail

JANUARY 30, 2024

Retailers worldwide may be facing challenging times right now, but the evolution of technology – including the deployment of AI – is opening the way to dramatic improvements in productivity at all stages of the retail business model. You are optimising the value of that product by discounting at the right time, rather than too early.”

Loss Prevention 147

Loss Prevention Shrinkage Inventory Management Markdowns 147

Retail Gazette

MARCH 11, 2024

Matalan’s pandemic cost-cutting efforts returned the business to stable ground ahead of its sale last year, helping to provide a launchpad as it steps up its transformation plans under CEO Jo Whitfield. in its second quarter, with sales up 0.8% in its second quarter, with sales up 0.8%

Markdowns 52

Markdowns Fashion Accounting Returns 52

Retalon

JUNE 10, 2020

Price planning is one of the most difficult (and often misunderstood) elements of retailing strategies. But emulating successful retailers in price planning isn’t enough. Standard price planning strategies (competition pricing, cost-plus, high-low, EDLP, etc.) What does this mean for price planning?

Planning 41

Planning Markdowns Promotions Accounting 41

Retalon

JANUARY 6, 2021

An effective replenishment plan will drive profit. There is an age old saying, and it goes like this: “you don’t plan to fail, you fail to plan.” ” And what can be easier than planning replenishment? All you need to do is plan to replenish the products that you sell out of.

Planning 41

Planning Markdowns Accounting Shipping 41

365 Retail

SEPTEMBER 16, 2021

Cross-Item Effects at Your Fingertips. The ability of AI science to take into account cross-item effects, such as halo and cannibalization, gives merchants and pricing professionals a holistic view of how a single price change or promotional offer will affect a category overall.

Markdowns 98

Markdowns Promotions Accounting Planning 98

Retalon

FEBRUARY 12, 2021

Critical Considerations for Retail Assortment Plans. A retailer’s assortment planning process can make or break their selling season (or even their entire fiscal year). But if you manage to predict consumer demand accurately and plan your assortment accordingly — you’ll rake in the profits. What is assortment planning?

Planning 41

Planning Accounting Store Layout Markdowns 41

Retalon

JANUARY 7, 2021

Seasonal merchandise planning carries a unique challenge for retailers, as product life cycles are measured in weeks or even days. . This is a problem because retailers plan their inventory months in advance — having almost no window to react to out-of-stocks or an unexpected up-lift in demand. But this is easier said than done.

Markdowns 41

Markdowns Promotions Planning Accounting 41

365 Retail

JUNE 5, 2024

It even accounts for seasonal trends, promotions, and supplier lead times. To get started, hiring Kenyatta Computer Services or others should be at the top of your to-do list. These systems calculate the fastest routes while accounting for traffic patterns, driver schedules, and service time windows.

Payment Services 52

Payment Services Inventory Management Checkout Inventory Turnover 52

Inside Retail

AUGUST 25, 2022

Experience: We all experienced the GFC – I was CEO of The Good Guys at the time – and the principles of dealing with a downturn are pretty much the same, except in the current situation, we have the added benefit of a more dynamic channel in e-commerce. You look at all of those controllables very closely. Michael Ford. Launa Inman.

Drop-Shipping 130

Drop-Shipping Markdowns Management Shipping 130

Retalon

FEBRUARY 24, 2022

Open to buy (OTB) planning lets you control inventory and stay cash flow positive. Fewer markdowns. Essentially, OTB is a purchasing plan which takes into account current inventory levels and projected sales for a set time period. Where you expect to finish is your closing inventory plus your planned sales and markdowns.

Markdowns 41

Markdowns Inventory Turnover Accounting Planning 41

Retalon

FEBRUARY 15, 2022

The forecast of future sales demand informs almost all of the decisions a retailer makes throughout the product journey: Planning. Demand forecasting at store/SKU levels leads to better allocation of inventory across the entire business from the start. Let’s take a look at what those are. Inventory/supply chain.

Markdowns 41

Markdowns Inventory Turnover Fulfillment Accounting 41

Mass Relators

JANUARY 16, 2023

billion last year, largely due to a reduction in revenue from COVID vaccines and testing, store closures and a planned loss of covered lives at Elixir. Our third quarter beat consensus on top and bottom line, and we’re pleased with our results at Elixir and our accelerated sales growth at retail. Revenue was down from $6.23

Markdowns 52

Markdowns Accounting Planning Marketing 52

Mass Relators

DECEMBER 21, 2022

billion last year, largely due to a reduction in revenue from COVID vaccines and testing, store closures and a planned loss of covered lives at Elixir. Our third quarter beat consensus on top and bottom line, and we’re pleased with our results at Elixir and our accelerated sales growth at retail. Revenue was down from $6.23

Markdowns 52

Markdowns Accounting Planning Consumer 52

Retalon

OCTOBER 24, 2023

Whether it’s fast fashion or high-end brands, at the end of the day, the goal of a business is to maximize shareholder value. The direct and indirect damages of lost sales are so great that retailers prefer to markdown unsold inventory, or even get rid of it at cost. How do retailers get into this mess? Incentives A current U.S.

Markdowns 41

Markdowns Fast Fashion Consumer Accessories 41

Retalon

SEPTEMBER 11, 2020

Often resulting in inventory distortion that lead to lost sales and costly markdowns. Traditional analytics relies too much on past sales to plan and manage inventory. These retailers are therefore unable to account the demand uplift resulting from the promotion. Let’s take a look at each of these in a little bit more detail.

Fashion 41

Fashion Markdowns Promotions Accounting 41

M19 Retail

APRIL 14, 2021

The multiplication of choices induced by this model translates into a drop in productivity of the physical store space and an increase in markdowns at the end of the season to sell unsold products. This complexity requires more planning effort than only large data analysis and algorithms using artificial intelligence can help manage.

Point of Sale 52

Point of Sale Management Markdowns Accounting 52

M19 Retail

MARCH 17, 2021

MIAMI, FLORIDA March 17, 2021 – Mi9 Retail, the number one vendor for tier one retailers (RIS 2021 Software Leaderboard) that enables them to automate and optimize merchandise management and demand planning, is pleased to announce the release of its new merchandise management mobile application (MMA). About Mi9 Retail. Recent Posts.

Inventory Management 40

Inventory Management Management Markdowns Planning 40

Retalon

OCTOBER 8, 2020

But first, let’s take a look at what reducing inventory really means, and why it matters. And at the end of the sales season (or at the end of a product’s lifecycle), markdowns you set to clear out excess inventory can easily wipe out the product’s lifecycle profitability. Looking at past performance only gets you so far.

Markdowns 41

Markdowns Inventory Management Promotions Planning 41

Retalon

MARCH 2, 2021

Destination resorts that run gift shops must account for occupation rates in their hotels as well as weather. . That’s why fashion retail planning and analytics software needs to be unique and specific to fashion, with the ability to break down business considerations even further than that. For instance, . Do you run promotions?

Fashion 41

Fashion Markdowns Promotions Accounting 41

Mass Relators

DECEMBER 21, 2021

billion, and the company announced a store closure plan starting with 63 outlets. Prescription sales from continuing operations accounted for 71.1 The total store count at the end of the quarter was 2,488. Adjusted EBITDA rose 12.7 percent from the year-ago quarter to $154.8 million, or 2.5 percent of revenues. million, or 2.8

Markdowns 52

Markdowns Planning Accounting Marketing 52

Retalon

FEBRUARY 14, 2022

Whether it’s fast fashion or high-end brands, at the end of the day, the goal of a business is to maximize shareholder value. The direct and indirect damages of lost sales are so great that retailers prefer to markdown unsold inventory, or even get rid of it at cost. How do retailers get into this mess? Poor Demand Forecasting.

Markdowns 41

Markdowns Fast Fashion Consumer Accessories 41

Retalon

APRIL 14, 2021

Creating a product assortment strategy is necessary for retailers to have a holistic, long-view plan of their business. And it needs to fit into your retail planning process to ensure you’re still hitting your financial and inventory targets. Everything you need to know about product assortment strategy.

Markdowns 41

Markdowns Planning Location Accounting 41

Retalon

APRIL 26, 2021

Product clustering (or grouping) is an increasingly common technique that leading retailers use to manage their planning, inventory, pricing, promotions, and markdowns. Most commonly, retailers use geographical clusters to better account for demographics, distribution cost, climate, and other relevant factors to their business.

Markdowns 41

Markdowns Promotions Inventory Management Accounting 41

Mass Relators

APRIL 14, 2022

The gain was driven by retail segment growth, partially offset by a decline at the Pharmacy Services Segment. We exceeded our 2022 plan amid continuing challenges of the COVID-19 pandemic. Prescription sales from continuing operations accounted for 70.1 Total store count at the end of the fourth quarter was 2,450.

Accounting 52

Accounting Markdowns Planning Marketing 52

Retalon

JULY 28, 2021

Without an effective method to predict seasonal demand retailers will always run out of stock and lose sales or be forced to mark down products at the end of the season. Let’s take a look at 3 examples of seasonal products in the image below: Seasonality can depend on product type, on whether it is event-driven or weather-driven.

Markdowns 41

Markdowns Inventory Management Accounting Management 41

Retalon

JULY 28, 2021

Without an effective method to predict seasonal demand retailers will always run out of stock and lose sales or be forced to mark down products at the end of the season. Let’s take a look at 3 examples of seasonal products in the image below: Seasonality can depend on product type, on whether it is event-driven or weather-driven.

Markdowns 41

Markdowns Inventory Management Accounting Management 41

Indigo 9 Digital

FEBRUARY 28, 2023

Retail is littered with stories like this one, about companies that were once at the top but are no longer relevant. Each step is highly digitized and integrated with another, which allows the company to churn out hundreds of new products tailored to different regions and user tastes at a daily rate. Think Sears.

Fast Fashion 98

Fast Fashion Fashion Apparel Department Stores 98

Retalon

JUNE 18, 2019

Promotion planning is a constant balancing act. The math needed to account for these effects is hard enough. Multiply that effort by the hundreds, or thousands, of promotions you run every year and the workload quickly balloons beyond the capacity of any planning team. Sometimes, that will mean a focus on increasing sales.

Promotions 32

Promotions Markdowns Inventory Management Payment Services 32

Retalon

JUNE 18, 2019

Promotion planning is a constant balancing act. The math needed to account for these effects is hard enough. Multiply that effort by the hundreds, or thousands, of promotions you run every year and the workload quickly balloons beyond the capacity of any planning team. Sometimes, that will mean a focus on increasing sales.

Promotions 32

Promotions Markdowns Payment Services Inventory Management 32

RETAIL MANAGEMENT SOFTWARE

MARCH 11, 2022

Use and analyze the past seasonal orders to determine how to price products- By using the data, look at previous seasons to guide your pricing decisions. Plan before buying your inventory- Use your data to determine what you should order. The pace at which merchandise is sold within a given time frame is known as inventory turn rate.

Inventory Management 92

Inventory Management Management Inventory Turnover Drop-Shipping 92

Retalon

NOVEMBER 11, 2021

While most retailers are investing at least some portion of their budgets into IT out of sheer necessity (updating old infrastructure, outsourcing tech support to deal with influx of employee tickets, etc.), Advanced analytics technology can create accurate demand forecasts that lead to better retail planning.

Fulfillment 41

Fulfillment Markdowns Promotions Shipping 41

Retalon

DECEMBER 17, 2021

Typically unexpected, this situation can be extremely detrimental for retailers and also has the potential to create additional issues such as: Inventory Imbalances Overstocks Markdowns. Carefully planned, this effect can maximize sales and profits by redirecting demand. Planning for cannibalization is easier said than done.

Markdowns 41

Markdowns Promotions Consumer Fashion 41