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. I don’t have all the data I know I should have, is that OK?

Retailing Pricing 212

Retailing Pricing Markdowns Accounting Outdoor 212

Retalon

NOVEMBER 20, 2020

Price optimization and price management are terms that often are used interchangeably, but they are not the same thing. When used properly, both price management and price optimization can substantially affect a retailer’s profitability. You cannot optimize prices without managing them, however.

Management 41

Management Markdowns Accounting Retailing Pricing 41

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 57

Markdowns Fashion Accounting Planning 57

Retail TouchPoints

SEPTEMBER 29, 2022

This year saw the proposal of the Fashion Sustainability and Social Accountability Act. Here, we look at some of the initiatives — transparent sourcing, greater demand forecasting, recommerce and sustainable packaging — retailers are using to be more sustainable. A Starting Point. Transparent sourcing. Furthermore, in the U.S.,

Fast Fashion 322

Fast Fashion Fashion Markdowns Consumer 322

Retalon

FEBRUARY 10, 2022

Managing inventory becomes exponentially more complicated as a retailer grows; and often becomes an overwhelming challenge. So, a retailer who wants to gain the competitive edge while avoiding undue losses, needs to be able to spot the indicators of bad inventory and know how to fix them at the root. Drastic Markdowns.

Inventory Turnover 41

Inventory Turnover Management Inventory Management Dead-Stock 41

Retail TouchPoints

OCTOBER 15, 2021

Products that are sized 18 and above and available in the UK only account for 14% of the total market. According to Edited, the total number of consumers deemed “plus-sized” is set to grow at twice the rate of the rest of the market. There is no standardization across the industry and inconsistent sizing leads to markdowns and returns.

Consumer 288

Consumer Merchant Services Markdowns Fulfillment 288

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

365 Retail

FEBRUARY 17, 2022

With 330 bricks-and-mortar stores globally, its digital fashion offering, available in both the UK and US, has experienced fast-growth, and now accounts for 40% of its sales. “Pacsun wanted to proactively manage the costs created by the increase in our online sales,” said Mike Relich, Co-CEO of Pacsun. “By

Markdowns 52

Markdowns Fulfillment Shipping Fashion 52

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. Account for more variables in your seasonal merchandise planning. Calculate the seasonality for every SKU, at every store.

Markdowns 41

Markdowns Promotions Accounting Planning 41

Retalon

FEBRUARY 24, 2022

Other benefits of OTB management include: More flexible inventory. 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 started is simple: it is the planned inventory at the beginning of the sales period.

Markdowns 41

Markdowns Inventory Turnover Accounting Planning 41

Retalon

OCTOBER 24, 2023

This overstock issue is not new, and retailers have tried to manage their unsold goods through donations and resellers, but there is simply too much inventory. 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. Billion in overstocks. Incentives A current U.S.

Markdowns 41

Markdowns Fast Fashion Consumer Accessories 41

Retalon

FEBRUARY 15, 2022

Demand forecasting at store/SKU levels leads to better allocation of inventory across the entire business from the start. Price elasticity of demand, meaning the effect that a set price will have on demand, is an important consideration when setting prices, running promotions, or markdowns. Let’s take a look at what those are.

Markdowns 41

Markdowns Inventory Turnover Fulfillment Accounting 41

Retalon

JUNE 29, 2013

Every retailer wishes to have the right product at the right place at the right time. In order to achieve this there is a lot of thought put into inventory management, allocation, and replenishment processes. Once inventory begins to run low at a specific store, it is replenished from the DC.

Inventory Management 32

Inventory Management Management Markdowns Fulfillment 32

Retalon

OCTOBER 8, 2020

But getting the biggest return on that investment, especially in today’s tough retail environment, requires a more nuanced, data-driven approach to inventory management than most retailers are used to. But first, let’s take a look at what reducing inventory really means, and why it matters. Why reducing inventory costs matters.

Markdowns 41

Markdowns Inventory Management Promotions Planning 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

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

Retalon

FEBRUARY 25, 2022

Whether losing sales to out-of-stocks, or facing overstocking costs and markdowns, inefficient stock replenishment has a huge impact on a retailer’s GMROI. Replenishing stock is a key facet of inventory management which helps to balance inventory levels during a selling period. What is replenishment? What is replenishment stock?

Inventory Management 47

Inventory Management Fulfillment Markdowns Location 47

Retalon

FEBRUARY 14, 2022

This overstock issue is not new, and retailers have tried to manage their unsold goods through donations and resellers, but there is simply too much inventory. 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. Billion in overstocks. Brand Image. Incentives.

Markdowns 41

Markdowns Fast Fashion Consumer Accessories 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. not all IT investments bring equal ROI.

Fulfillment 41

Fulfillment Markdowns Promotions Shipping 41

Retalon

APRIL 14, 2021

What is a retail markdown strategy? A retail markdown strategy is a plan that describes when and how certain products should go on markdown. Having a markdown strategy is important because, all too often, markdowns are a kneejerk reaction to end-of-life inventories. ” What are markdowns in retail?

Markdowns 41

Markdowns Dead-Stock Promotions Bundled Pricing 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

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. However, traditional spreadsheet analytics cannot account for store-by-store variations in the promotion’s effectiveness or secondary effects such as demand cannibalization.

Fulfillment 41

Fulfillment Markdowns Promotions Returns 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.

Fulfillment 41

Fulfillment Drop-Shipping Shipping Returns 41

Retalon

FEBRUARY 13, 2018

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.

Markdowns 32

Markdowns Inventory Management Promotions Accounting 32

Retalon

FEBRUARY 13, 2018

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.

Markdowns 32

Markdowns Inventory Management Promotions Accounting 32

Retalon

FEBRUARY 13, 2018

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.

Markdowns 32

Markdowns Inventory Management Promotions Accounting 32

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. Other applications can help with purchasing , replenishment , and other inventory management processes.

Location 41

Location Inventory Management Markdowns Fulfillment 41

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.

Markdowns 41

Markdowns Planning Location Accounting 41

Retalon

NOVEMBER 19, 2018

Are the right products in stock at the right locations/channels to support the shift in demand? Are the current pricing and markdown strategies still the optimal ones based on the new forecast? Predictive Analytics looks at data from across your business and can both answer questions and proactively offer solutions.

Markdowns 32

Markdowns Fashion Inventory Management Accounting 32

Retalon

NOVEMBER 19, 2018

Are the right products in stock at the right locations/channels to support the shift in demand? Are the current pricing and markdown strategies still the optimal ones based on the new forecast? Predictive Analytics looks at data from across your business and can both answer questions and proactively offer solutions.

Markdowns 32

Markdowns Fashion Inventory Management Accounting 32

Retalon

SEPTEMBER 1, 2020

The traditional approaches to estimating demand only hint at how a particular product will perform. Fixing the problem through stock rebalancing or price markdowns will be expensive. Retailers need to also account for new products impacting the sales of other SKUs through product demand cannibalization.

Promotions 41

Promotions Markdowns Inventory Management Accounting 41

Retalon

AUGUST 2, 2019

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. At best, they give you a dashboard of conditions right now.

Merchant Services 39

Merchant Services Fulfillment Accounting Markdowns 39

Retalon

JANUARY 20, 2014

The positioning is based on an evaluation of Retalon’s offerings that put its customers’ data to work using predictive analysis which enables users at all levels of organizations to work effectively. From inception, Retalon’s analytics have been built on a common analytic platform that takes into account the entire retail business process.

Markdowns 32

Markdowns Inventory Management Accounting Promotions 32

Retalon

SEPTEMBER 13, 2015

For example, one retailer might want to manage their inventory better, so they would use KPIs like inventory to sales ratios or inventory integrity. This dramatically increases revenue from transfers, lowers inventory costs and increases sales while helping you avoid unnecessary markdowns and subsequent allocations. In-Stock Percent.

Markdowns 32

Markdowns Promotions Customer Experience Fulfillment 32

Retalon

SEPTEMBER 23, 2020

Yet, despite these challenges, some traditional retailers are managing to grow year-over-year, shredding previous sales records time and time again. To explain what makes advanced analytics so special, we need to start at the beginning. for any human to account for all of them manually. What is Retail Data Analytics?

Accounting 47

Accounting Markdowns Management Inventory Management 47

Retalon

MARCH 4, 2019

Inventory Management. Traditional inventory management is fragmented silo work that doesn’t take other processes into account. Things are done retroactively or not at all, and any changes made tend to be at a category level, not a SKU level, leading to lost sales and unnecessary markdowns.

Inventory Management 32

Inventory Management Markdowns Planning Fulfillment 32