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

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. They must approach inventory management, merchandise accuracy and return policies strategically.

Returns 285

Returns Markdowns Inventory Management Customer Experience 285

Retalon

JULY 28, 2021

That’s why it’s important for all retailers to understand what seasonal demand forecasting is, why it’s so challenging and how retailers in 2021 are overcoming these challenges to increase their bottom line. Retailers either lose sales and customer satisfaction due to inventory shortages or face drastic and expensive markdowns.

Markdowns 41

Markdowns Inventory Management Accounting Management 41

Retalon

JULY 28, 2021

That’s why it’s important for all retailers to understand what seasonal demand forecasting is, why it’s so challenging and how retailers in 2021 are overcoming these challenges to increase their bottom line. Retailers either lose sales and customer satisfaction due to inventory shortages or face drastic and expensive markdowns.

Markdowns 41

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. The result can be costly post-season markdown events that leave retailers stuck with short-life seasonal items that necessitate steep marks or even complete write-offs.

Markdowns 98

Markdowns Promotions Accounting Planning 98

Retalon

APRIL 21, 2021

At its most basic, it only requires integrating live inventory counts from your ERP / inventory management software with your e-commerce platform, ensuring customers can get accurate information about which store has the items they’re looking for (or give them the option to ship to store). Minimize and optimize omnichannel returns.

Fulfillment 41

Fulfillment Drop-Shipping Shipping Returns 41

Retail TouchPoints

AUGUST 19, 2021

Ecommerce has been growing 10% to 15% every year and that was exacerbated during COVID-19,” said Natalie Kotlyar, National Managing Partner; Industry Groups, Retail & Consumer Products Industry National Leader, at BDO in an interview with Retail TouchPoints. That means communication with the consumer, not markdowns.

ATS 299

ATS Markdowns Consumer Social Commerce 299

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. Retailers may cluster these substitute products together to manage inventory more efficiently. Everything you need to know about product clustering / grouping.

Markdowns 41

Markdowns Promotions Inventory Management Accounting 41

Retalon

APRIL 14, 2021

By grouping products into families of similar attributes, you’ll have a much more agile method to manage and track their assortment, which can help avoid product cannibalization and gaps in the assortment which form in-season. How to Effectively Use Product Clustering in Retail (2021). April 26, 2021. April 21, 2021.

Markdowns 41

Markdowns Planning Location Accounting 41

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. It wanted to be able to synchronise in-store prices with online activity, allowing it to quickly react and actively manage pricing strategies, while reducing pricing errors or inconsistencies.

Markdowns 147

Markdowns Sporting Goods Management Shopping 147

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. But if you manage to predict consumer demand accurately and plan your assortment accordingly — you’ll rake in the profits. January 7, 2021.

Planning 41

Planning Accounting Store Layout Markdowns 41

Retail TouchPoints

NOVEMBER 3, 2020

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).

Drop-Shipping 183

Drop-Shipping Merchant Services Fulfillment Shipping 183

Retalon

APRIL 27, 2021

In effect, this means a reduction of total inventories, maximized sales, and reduced markdowns. Often, returning products to the store that fulfilled the original purchase will create inventory excesses and lead to markdowns. The post 5 Major Retail Digital Transformations to Watch For in 2021 appeared first on Retalon.

Fulfillment 41

Fulfillment Markdowns Promotions Returns 41

Retalon

JANUARY 5, 2021

Most of today’s inventory management issues start at the level of forecasting. Other applications can help with purchasing , replenishment , and other inventory management processes. The post How to Effectively Balance Inventory Across All Locations (2021) appeared first on Retalon. Why isn’t the current method working?

Location 41

Location Inventory Management Markdowns Fulfillment 41

Mass Relators

JUNE 21, 2021

got off to a fast start in fiscal 2021, as top- and bottom-line results for the first quarter exceeded the expectations of both management and Wall Street. As Vasos remarked, based on the first quarter performance, Dollar General is raising its guidance for fiscal 2021. GOODLETTSVILLE, Tenn. Dollar General Corp.

Payment Services 52

Payment Services Markdowns Apparel Accounting 52

Retalon

MARCH 9, 2021

Low prices leave little room for promotions or end-of-lifecycle markdowns. Balancing the tradeoffs and identifying the best pricing strategy or combination of pricing strategies has always required deep retail management expertise. The post 10 Leading Strategies for Pricing New Products (2021) appeared first on Retalon.

Bundled Pricing 41

Bundled Pricing Promotions Markdowns Advertising 41

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.

Markdowns 40

Markdowns Inventory Management Planning Management 40

Independent Retailer

SEPTEMBER 5, 2022

The lucky ones managed to balance stock levels reactively, replenishing a steady stream of their best-selling products as the orders came in; even successfully growing their business. Even returns are up, reaching 17 percent in 2021 from 11 percent in 2020. The result?

Drop-Shipping 89

Drop-Shipping Markdowns Planning Returns 89

Retail Minded

AUGUST 27, 2022

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. The lucky ones managed to balance stock levels reactively, replenishing a steady. in 2021 from 10.6% in 2020 (National Retail Federation).

Merchant Services 98

Merchant Services Drop-Shipping Markdowns Planning 98

Retalon

SEPTEMBER 22, 2021

Better inventory management and visibility. Retailers need better inventory management practices to conduct BOPIS operations but at the same time, BOPIS makes your inventory management better. Tighter inventory management gives you better visibility into key inventory performance metrics. Secure order pickup.

Fulfillment 41

Fulfillment Payment Services Inventory Management Shipping 41

Retalon

NOVEMBER 11, 2021

POS / customer engagement software Ecommerce platforms Data analytics and business intelligence software Order management software. Retail IT services: Tech support Field support Device management Software management Disaster recovery Software integration Custom development. Billion in 2021 according to Gartner.

Fulfillment 41

Fulfillment Markdowns Promotions Shipping 41

Indigo 9 Digital

SEPTEMBER 7, 2022

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 Commissions typically range from 25%-33% depending on whether in addition to providing eCommerce functionality Farfetch manages shipping, returns or other services.

Boutique 98

Boutique Fashion Customer Experience Markdowns 98

Indigo 9 Digital

FEBRUARY 28, 2023

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. An inability to leverage social media effectively. Large stores are inherently risky.

Fast Fashion 98

Fast Fashion Fashion Apparel Department Stores 98

Indigo 9 Digital

SEPTEMBER 1, 2022

That means if there is slow moving merchandise the retailer doesn’t have to worry about taking markdowns to sell the inventory. Marks & Spencer was also the fastest growing food retailer in Britain in the three months up to December 4th, 2021. 57% of Amazon’s unit sales in come from third party sellers on its platform.

Drop-Shipping 95

Drop-Shipping Markdowns Planning Grocer 95

Independent Retailer

AUGUST 19, 2022

Here are several key predictions based on previous years’ trends: Halloween 2022 will be huge, both in pent-up consumer demand and peak popularity: Search volume for “Halloween” has gained traction earlier and earlier, with searches beginning to increase starting in July of 2021, and peaking at 123K daily searches in October.

Shipping 85

Shipping Merchant Services Consumer Returns 85

Retail Adventures

AUGUST 25, 2021

Manage your customer response times. Don’t wait too long to take a markdown. Until the pandemic is under control you will need to manage your in-store events according to your state COVID-19 mandates. Create a marketing and promotions calendar for each month of 2021. This is __, how may I help you today?”

Returns 83

Returns Cross Merchandising Promotions Marketing 83