Retail Focus

JUNE 3, 2021

As other sectors, including travel and hospitality, experienced online commerce surges, the retail market shifted at a more leisurely pace. A recent global shopper survey revealed that while 78% of shoppers often or always shopped in-store prior to COVID, by spring 2021 that had dropped by half to 39%. 41% to an in-store flyer today.

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Retail TouchPoints

MARCH 8, 2023

We did a good job in 2021,” said Kingsbury. The retailer is aiming to eliminate slow-selling items evenly throughout the year rather than making a large push at the end of each season. The decline was primarily driven by clearance markdowns of approximately 750 basis points, according to CFO Jill Timm. 28, 2023. “We in Q4 2022.

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Markdowns Planning Promotions ATS 206

Retalon

JANUARY 7, 2021

With seasonal product life-cycles becoming ever shorter, retailers need more strategic and granular ways to plan their seasonal assortments so they can maximize revenue while minimizing markdowns. Calculate the seasonality for every SKU, at every store. Account for more variables in your seasonal merchandise planning.

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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. Mejuri uses the real-time tracking to swiftly, and fluidly, pivot strategies. “A

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Retail TouchPoints

MARCH 3, 2023

at its flagship banner and up 5.8% at Family Dollar stores, but even discounters are facing cautious consumer spending and employee pay raises that aren’t expected to pay off for some time. at its flagship banner and up 5.8% Beauty sales were a bright point at both businesses. during Q4, but they were up 0.6%

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Markdowns Operating Expenses Department Stores Planning 275

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.

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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.

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Markdowns Inventory Management Accounting Management 41

365 Retail

SEPTEMBER 16, 2021

Retailers famously live and die by the holiday season each year, but as the 2021 season fast approaches, the stakes are higher than ever. Cross-Item Effects at Your Fingertips. Retailers Face Extra $223B in Costs of Goods This Holiday Shopping Season, Caila Schwartz, the Salesforce 360 blog, 20 July 2021.

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Inside Retail

JUNE 30, 2023

The pressure shows up most in terms of profit which, at net income level, fell by 28 per cent this quarter. The not-so-good news is that inventories are running around 23 per cent above the more normalised levels of 2021. This has coincided with the usual cocktail of higher costs that is impacting all retailers.

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Retail TouchPoints

NOVEMBER 8, 2022

In 2021, returns cost retailers a whopping $761 billion , or almost 17% of total U.S. Returns are increasing labor costs due to inspection and restocking time and often cause markdowns, out-of-stock and logistics expenses to increase. retail sales. Returns can be an excellent opportunity to sell something new to a known customer.

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Retalon

SEPTEMBER 8, 2021

TORONTO , March 17, 2021 /PRNewswire/ – Retalon, an award-winning AI & Predictive Analytics software provider announced a new approach to the training of Neural Nets, named Progressive Learning. At the end of the day, all systems (whether human or artificial Neural Net) are based on the same principles. CEO at Retalon Inc.

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Markdowns Promotions Planning ATS 41

Retalon

SEPTEMBER 8, 2021

TORONTO , March 17, 2021 /PRNewswire/ – Retalon, an award-winning AI & Predictive Analytics software provider announced a new approach to the training of Neural Nets, named Progressive Learning. At the end of the day, all systems (whether human or artificial Neural Net) are based on the same principles. CEO at Retalon Inc.

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Markdowns Promotions Planning ATS 41

Inside Retail

AUGUST 17, 2021

Coles’ Smarter Selling strategy is paying off for the Australian supermarket giant, with approximately $300 million in extra savings in the bank at the end of FY21. At its full year results announcement on Wednesday morning, Coles revealed that net profit broke the one-billion-dollar mark, rising 2.8 per cent to $1.005 billion.

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Retalon

APRIL 14, 2021

Developing a solid product assortment strategy at the beginning optimizes revenue and profit while minimizing the risk. Other opportunities by which store clusters can be created may include looking at store behaviour in terms of sales, trends, climate, seasonality, or culture-specific demographics.

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Markdowns Planning Location Accounting 41

Retalon

APRIL 21, 2021

At its most basic, order fulfillment is the combination of steps required to get products into the hands of customers. In other words, it means getting products to your customers at the right time in the most cost-effective way possible. Will you deny returns at a store level? Emphasizing BOPIS. How does it work?

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Fulfillment Drop-Shipping Shipping Returns 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. But at best, this only happens once a quarter (and often at longer intervals). Everything you need to know about product clustering / grouping.

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Markdowns Promotions Inventory Management Accounting 41

Retail Adventures

DECEMBER 1, 2020

Begin at the front door You want your sales floor to scream Christmas when shoppers enter and the perfect place to set the tone is on your Speed Bumps; the displays that stop shoppers and give them a taste of what they can expect to find merchandise-wise as they shop your store. Markdowns allow you to maximize your invested dollars.

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Retalon

MARCH 2, 2021

What sizes should you offer for each product at each location? If you run out of stock on winter jackets at your busy locations, you will not have an accurate gauge as to what your true demand was last year and you will repeat the same mistake in your forecast for next year. . How seasonal is your business? Do you run promotions?

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Fashion Markdowns Promotions Accounting 41

Retalon

JANUARY 6, 2021

The purpose of replenishment is to ensure that a retailer has the right quantity of product, at the right location, at the right time to maximize sales and minimize costs. For one, retailers often make the mistake of replenishing too much end-of-season inventory — creating unnecessary markdowns in the future.

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Retail TouchPoints

NOVEMBER 3, 2020

By creating narrower product assortments and limiting inventory levels — especially for product shipments headed to brick-and-mortar stores —merchants would gain the ability to react more quickly to changing consumer trends, and even potentially reduce their need for markdowns. What can retailers do to eliminate or at least minimize these?

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Drop-Shipping Merchant Services Fulfillment Shipping 183

Retalon

FEBRUARY 12, 2021

If your predictions are inaccurate (or your assortment plan fails to reflect consumer demand) — you’ll be facing out-of-stocks, markdowns, and unhappy customers all year. At its simplest, assortment planning is the process retailers use to decide which products and variations to carry and sell in an upcoming season. Read More.

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Retail Focus

FEBRUARY 8, 2022

Research in 2021 from Pricer revealed that 57% want digital engagement in the aisle to improve CX and inform purchasing decisions. A further 57% also said they would like to see sourcing and ingredients information more readily available at the shelf-edge digitally.

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Mass Relators

FEBRUARY 28, 2023

At the same time, we’re planning our business cautiously in the near term to ensure we remain agile and responsive to the current operating environment. billion in 2021. percent compared with 2021, reflecting sales growth of 2.8 percent in 2021. Operating income was $1.2 billion in fourth quarter 2022, down 44.7

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Markdowns Promotions Planning Consumer 40

Retail Adventures

JULY 13, 2021

Plan Events & Promotions: You have competition coming at you from all sides, all vying for the customers’ attention. Think about the upcoming holidays and plan for Halloween, Thanksgiving, Black Friday and Holiday 2021. Keep going and add events for each month of 2021. Be Prepared for Markdowns. Start here: 1.

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Markdowns Returns Planning Promotions 98

Retalon

APRIL 27, 2021

It can analyze billions of data points and predict demand at a level of granularity that’s simply impossible to reach using Excel. In effect, this means a reduction of total inventories, maximized sales, and reduced markdowns. to optimize inventory for gross margins. Order fulfillment automation.

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Fulfillment Markdowns Promotions Returns 41

Retalon

JANUARY 5, 2021

So it’s no surprise that retailers are beginning to take a serious look at their mid-season inventory balancing practices. Most of today’s inventory management issues start at the level of forecasting. The post How to Effectively Balance Inventory Across All Locations (2021) appeared first on Retalon.

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Retalon

MARCH 9, 2021

At the same time, defining your new product pricing strategy is exciting for a very different reason. Low prices leave little room for promotions or end-of-lifecycle markdowns. Without the right tools, looking at your historical sales may not give you any insight into the optimal new product pricing strategies. Bundle pricing.

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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.

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Inventory Management Management Markdowns Planning 40

Retail Adventures

JULY 1, 2020

Continue to Plan Events & Promotions: You have competition coming at you from all sides, all vying for the customers’ attention. Keep going and add events for each month of 2021. Be Prepared for Markdowns. A markdown plan for every piece of merchandise that you purchase is a smart idea. Start here: 1. Or strategy.

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Retalon

SEPTEMBER 22, 2021

BOPIS is the most common acronym you’ll see, but you may come across these other variations: BOPAC (Buy Online Pickup At Curb): Focuses on the outside handoff. Customers stay in their vehicles at designated parking spots, and employees bring their purchases out to the car. BOPIS lets customers shop on their own schedule.

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Retail Minded

AUGUST 27, 2022

distraction, scrambled for everything from at-home fitness equipment and games consoles to. Stockouts were disastrous for retailers during the pandemic – up by 250% (Adobe, 2021) – and with 37% of consumers saying they’d simply shop elsewhere if they couldn’t find what. in 2021 from 10.6% factors at play.

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Merchant Services Drop-Shipping Markdowns Planning 98

Retail Minded

FEBRUARY 24, 2022

2021 was unlike any other year in commerce history, pushing digitalization full speed ahead thanks to the pandemic forcing retailers to adapt to changes in consumption, channel shifts, supply chain, customer expectations and more. . At a time when there is a significant shift towards environmentally conscious brands, this is not something?that?should

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M19 Retail

MARCH 22, 2021

MIAMI, FLORIDA, March 22, 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 retail planning is pleased to announce a strategic partnership with Planalytics, the leading provider of weather-informed demand analytics and insights.

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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. Mi9 Retail and ThryveAI Showcase Grocery Innovations at Google Cloud’s Partner Pavilion During NRF 2021.

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Independent Retailer

SEPTEMBER 5, 2022

Locked down consumers, desperate for a distraction, scrambled for everything from at-home fitness equipment and gaming consoles to gazebos and scatter cushions — and warehouses were cleared of stock as supply chains buckled under the extraordinary pressure. Even returns are up, reaching 17 percent in 2021 from 11 percent in 2020.

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Drop-Shipping Markdowns Planning Returns 89

Indigo 9 Digital

SEPTEMBER 7, 2022

The prevailing wisdom at the time which hasn’t gone completely away is that you can’t translate a high touch experience, one often involving thousands of dollars, online. With a head start compared to many luxury brands Farfetch was ready when the pandemic hit, with revenues up 35% in 2021 reaching $2.3 But it’s true.

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Inside Retail

JANUARY 26, 2022

LN: A chance chat with a handsome Aussie (who would become my husband) at a little sushi restaurant on 49th Street in Manhattan brought me initially from NYC to Sydney 11 years ago and then to Singapore, and then to Melbourne. We’re also not a brand that takes markdowns on stock after six weeks. What brought you to Melbourne?

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Fashion Drop-Shipping Boutique Markdowns 130