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 246

Retailing Pricing Markdowns Accounting Outdoor 246

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

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

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

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 Accounting Planning 41

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

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

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 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

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

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 Fashion Consumer 41

Retalon

FEBRUARY 10, 2022

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. Identifying bad inventory can mean the difference between bringing in profits or losses at the end of the year. Drastic Markdowns.

Inventory Turnover 41

Inventory Turnover Management Inventory Management Dead-Stock 41

Retalon

APRIL 27, 2021

Although e-commerce gets all of the attention, the past two decades of technological change have transformed every aspect of the retail business — from planning, inventory, pricing, and promotions — all the way down to customer service and the in-store experience. Online sales now account for more than 20% of total retail sales.

Fulfillment 41

Fulfillment Markdowns Promotions 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

An inaccurate forecast, unpredictable changes to consumer preferences, shifts in the competitive landscape, or major economic events can all completely throw your planning and purchasing off-track, leaving you with major inventory distortions despite your best plans. Scale is another area where these forecasting systems struggle.

Location 41

Location Inventory Management Markdowns Fulfillment 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. Meeting sales demand has always been challenging, effective replenishment should mitigate issues that arise from poor planning and allocation. What is replenishment time?

Inventory Management 47

Inventory Management Fulfillment Markdowns Location 47

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?

Fulfillment 41

Fulfillment Drop-Shipping Shipping Returns 41

Retalon

SEPTEMBER 11, 2020

In order to understand how to take full advantage of this new technology, we will first explain what demand forecasting actually is, the most common methods of demand forecasting in retail, key constraints that need to be accounted for, and modern examples of accurate demand forecasting. Demand Forecast vs. Demand Plan.

Payment Services 41

Payment Services Promotions Accounting Fulfillment 41

Retalon

JUNE 29, 2013

Every retailer wishes to have the right product at the right place at the right time. Most retailers begin by creating a plan based on the big picture of their business process, and then they purchase the inventory, and allocate it to stores from the DC. Originally Published on PA Times.

Inventory Management 32

Inventory Management Management Markdowns Fulfillment 32

Retalon

MARCH 4, 2019

Modern retailers take advantage of advanced retail predictive analytics planning solutions. With multiple plans, and several levels of planners, plans may go through lots of re-consolidations, merging, and adding up to the “master plan”. This means that changes to plans are very cumbersome. Inventory Management.

Inventory Management 32

Inventory Management Markdowns Planning Fulfillment 32

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