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

Cisco Retail

MAY 20, 2022

Let’s take a look at what we’re going to build: Building on top of our existing Bot, we’re going to create two new services: MessageIngestion , and Kubernetes. In this section, we’ll set up a simple Deployment in Kubernetes, as well as a Service Account that we can leverage to communicate with the Kubernetes API using the NodeJS SDK.

Management 145

Management Returns Accounting Markdowns 145

Cisco Retail

DECEMBER 22, 2021

It notifies the sender that you are away and may not respond until you return. Your out-of-office message usually provides important information such as: Return date. 1] Support message markdown format and attachments. I’m out of the office and will be back at (Date of Return). Emergency Contact. stretch-goal.1]

Markdowns 134

Markdowns Returns Accounting ATS 134

Wiser

JANUARY 12, 2021

In this short guide, we’ll look at what keystone pricing is, when and how you should use it, and how it compares to similar pricing strategies. Doubling the wholesale cost allowed retailers to take into account fixed and variable costs, such as coupons, theft, returns, and other common margin-eaters while still turning a profit.

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Wholesale Shrinkage Markdowns Returns 78

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. Instead of simply repeating the same quantities, look at which products were the best and worst sellers and order accordingly.

Inventory Management 92

Inventory Management Management Inventory Turnover Drop-Shipping 92

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. There’s more to it.

Markdowns 41

Markdowns Inventory Management Promotions Planning 41

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

Retail Adventures

AUGUST 8, 2023

Shopping your competition is an exercise that needs to happen at least once a quarter. If you are not mentioned first, or worse, not at all, you have some work to do to build local word of mouth. When the associates return, have them to document their visits, breaking down everything they experienced in each area of the store.

Shopping 52

Shopping Merchant Services Visual Merchandising Markdowns 52

Retalon

MARCH 2, 2021

Destination resorts that run gift shops must account for occupation rates in their hotels as well as weather. . How do you handle returns? What sizes should you offer for each product at each location? What unique features, processes, or variables you’d like to include as a business rule or want to be accounted for.

Fashion 41

Fashion Markdowns Promotions Accounting 41

Retalon

APRIL 21, 2021

Maintaining margins within business constraints while efficiently providing order fulfillment to customers is a tall order, especially considering each customer purchase requires a real-time fulfillment decision within a shifting context of inventory, demand, returns, delivery times, and shipping costs. That’s the billion dollar question.

Fulfillment 41

Fulfillment Drop-Shipping Shipping Returns 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

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 tools can pinpoint demand for a specific SKU at a specific location or channel.

Fulfillment 41

Fulfillment Markdowns Promotions Shipping 41

Retail Adventures

SEPTEMBER 4, 2022

Shopping your competition is an exercise that needs to happen at least once a quarter. If you are not mentioned first, or worse, not at all, you have some work to do to build local word of mouth. When the associates return, ask them to document their visits, breaking down everything they experienced in each area of the store.

Shopping 52

Shopping Merchant Services Visual Merchandising Markdowns 52

Retalon

APRIL 14, 2021

Deep assortments can appeal to a smaller, more passionate customer base that spends more and returns regularly. Developing a solid product assortment strategy at the beginning optimizes revenue and profit while minimizing the risk. Account for changing consumer behaviour and preferences. Change is the only constant in retail.

Markdowns 41

Markdowns Planning Location Accounting 41

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

DECEMBER 8, 2021

This article will answer those questions while also looking at the best practices being used today, and how to pick the right order fulfillment model. It used to be that consumers mostly shopped at stores geographically close to them. How complicated is the returns process? What is order fulfillment? Why is this happening?

Merchant Services 41

Merchant Services Fulfillment Drop-Shipping Shipping 41

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. Payment, return, and exchange policies.

Fulfillment 41

Fulfillment Payment Services Inventory Management Shipping 41

Retalon

AUGUST 2, 2019

POS data (sales, returns, etc.). Prices (markdowns, promotions, competitor prices, etc.). At best, they give you a dashboard of conditions right now. Each functional team looked at data differently, had different priorities, and had different decision-making lead times. Traffic cameras (foot / vehicle traffic).

Merchant Services 32

Merchant Services Fulfillment Accounting Markdowns 32

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. What is Demand Forecasting?

Payment Services 41

Payment Services Promotions Accounting Fulfillment 41

Retalon

JULY 4, 2018

Based on the amount of retailers that have been forced to shut their doors in the last three years, there is a major shift that is moving through the retail industry at full force. So what’s the real challenge at hand? Buy in-store, return to another store (46%). Here’s the list of stores closing this year.).

Promotions 32

Promotions Fulfillment Shipping Markdowns 32

Retalon

DECEMBER 22, 2014

There are several important trends at play: 1. The marketing and loyalty department provide consumer/promotion data, the POS system provides sales/returns data. The right product, at the right place, at the right time for the right price. This leads to the retailer selling the usual amount of inventory at a reduced price.

Dead-Stock 32

Dead-Stock Promotions Fulfillment Markdowns 32

Retalon

DECEMBER 22, 2014

There are several important trends at play: 1. The marketing and loyalty department provide consumer/promotion data, the POS system provides sales/returns data. The right product, at the right place, at the right time for the right price. This leads to the retailer selling the usual amount of inventory at a reduced price.

Dead-Stock 32

Dead-Stock Promotions Fulfillment Markdowns 32

Retalon

JANUARY 17, 2022

Granted, many retailers have developed pricing strategies that account for multiple factors affecting product price, such as; Production and distribution costs Competitor pricing Revenue goals. Pricing is the number one most impactful lever a retailer has to affect GMROI (gross margin return on investment). Let’s find out.

Retailing Pricing 41

Retailing Pricing Markdowns Promotions Accounting 41

Retalon

SEPTEMBER 11, 2020

Often resulting in inventory distortion that lead to lost sales and costly markdowns. The variations in fit and color between brands and styles causes an increase in product returns. The cost of returns alone can make a retailer question the profitability of online stores. Often minimizing markdowns in the process.

Fashion 41

Fashion Markdowns Promotions Accounting 41

Retalon

NOVEMBER 2, 2021

To better understand why sustainable supply chains are so important, let’s take a quick look at how the retail and CPG industries have shifted in the past 2 decades. If they overstocked every SKU at every distribution center, they would simply go out of business. What is supply chain sustainability? More on that later.

Supply Chain Management 41

Supply Chain Management Dead-Stock Markdowns Shipping 41

Retalon

SEPTEMBER 3, 2020

Afterall, retailers invest in merchandise hoping to sell it at a profit. As such, the GMROI formula is used to evaluate how successful retailers are in getting a return on their inventory. You may already be familiar with the term Return on Investment or ROI. As a retailer, inventory is one of your biggest investments.

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Returns Accounting Fulfillment Markdowns 41