Retalon

NOVEMBER 11, 2021

The pressure for transformation is coming from all sides, as consumers expect a more streamlined shopping experience, workers expect flexibility and modernity, and competitors like Amazon win more market share using cutting edge tech as their advantage. Digital transformation has changed the way consumers shop and how retailers operate.

Fulfillment 41

Fulfillment Markdowns Promotions Shipping 41

Retalon

NOVEMBER 20, 2020

You can manage prices without optimizing them, but you run the risk of poor margins, higher costs, and down-stream inventory challenges (markdowns, out-of-stocks, etc.). . Each product will have several attributes and factors that need to be accounted for when setting prices that are specific to that product.

Management 41

Management Markdowns Accounting Retailing Pricing 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

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. Chances are that consumers will choose the cheaper product over a more expensive brand. Promotional uplift. Price elasticity of demand.

Markdowns 41

Markdowns Promotions Fashion Consumer 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

OCTOBER 8, 2020

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. As unsold boxes pile up, they consume shelf space that could be holding better-selling products. Last-minute rush orders may “save” the promotion.

Markdowns 41

Markdowns Inventory Management Promotions Planning 41

Retalon

JANUARY 6, 2021

In reality, replenishment planning is a fairly complicated process that has to account for many variables, including logistics routes, timelines, availability, and cost. For one, retailers often make the mistake of replenishing too much end-of-season inventory — creating unnecessary markdowns in the future.

Planning 41

Planning Markdowns Accounting Shipping 41

Indigo 9 Digital

FEBRUARY 28, 2023

It was easy for Forever 21 to capture the hearts and minds of young consumers looking for trendy apparel. While many argue Forever 21’s demise is due to a more socially conscious consumer fast fashion retailers are as popular as ever. If you can’t move all of the inventory then markdowns are required which eats into sales per sq.

Fast Fashion 98

Fast Fashion Fashion Apparel Department Stores 98

RETAIL MANAGEMENT SOFTWARE

MARCH 11, 2022

It is beneficial to exhaust your resources first, so you don’t end up with the excess products in one store that you eventually have to markdown. Account for items you can’t sell – If you cannot sell an item due to damage, make sure it is classified as non-sellable.

Inventory Management 92

Inventory Management Management Inventory Turnover Drop-Shipping 92

Wiser

SEPTEMBER 22, 2020

The particular formula you will follow is: (Price or Average of Prices) x (1 + your markup or markdown rate). If you sell in different countries or regions, there are many factors you have to take into account when selecting pricing for each geography. Geographic Pricing. High-Low Pricing. Limit Pricing. Liquidation Strategy.

Advertising 148

Advertising Markdowns Marketing Promotions 148

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

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. Replenishment seeks to ensure that the right product is on the shelves at the right time for the consumers to maximize sales & minimize costs. What is replenishment time?

Inventory Management 47

Inventory Management Fulfillment Markdowns Location 47

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

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. Optimizing your inventory balancing process is key to increasing ROI.

Location 41

Location Inventory Management Markdowns Fulfillment 41

Retalon

SEPTEMBER 13, 2015

In today’s omnichannel retail world, the best way to improve KPIs and meet yearly objectives is by adopting a predictive analytics solution that can forecast true demand, accurately allocate inventory, optimize promotions, and balance inventory and assortment between stores while being in tune with individual business goals. Promotion Lift.

Markdowns 32

Markdowns Promotions Customer Experience Fulfillment 32

Wiser

OCTOBER 3, 2017

Using the collected data, you’re able to compare prices and see when your competitors ran promotions and sales. Taking it a step further, automate repricing by using algorithms and taking into account the conditions of the market. Whether in-store or online, Wiser has you covered from pricing to assortment to promotions.

Markdowns 47

Markdowns Promotions Marketing Accounting 47

Retalon

SEPTEMBER 13, 2015

In today’s omnichannel retail world, the best way to improve KPIs and meet yearly objectives is by adopting a predictive analytics solution that can forecast true demand, accurately allocate inventory, optimize promotions, and balance inventory and assortment between stores while being in tune with individual business goals. Promotion Lift.

Markdowns 32

Markdowns Promotions Customer Experience Fulfillment 32

Retalon

SEPTEMBER 13, 2015

In today’s omnichannel retail world, the best way to improve KPIs and meet yearly objectives is by adopting a predictive analytics solution that can forecast true demand, accurately allocate inventory, optimize promotions, and balance inventory and assortment between stores while being in tune with individual business goals. Promotion Lift.

Markdowns 32

Markdowns Promotions Customer Experience Fulfillment 32

Retalon

MARCH 9, 2021

Low prices leave little room for promotions or end-of-lifecycle markdowns. These Advanced Analytics tools can account for all of your business constraints, analyze how pricing affects sales performance in your stores, and evaluate many different strategy combinations. Promotional pricing. Bundle pricing.

Bundled Pricing 41

Bundled Pricing Promotions Markdowns Advertising 41

Retalon

APRIL 21, 2021

Consumer expectations have evolved in the digital age, and retailers are now offering a multitude of flexible order delivery methods such as “Buy online, pick up in-store”, “curbside pickup”, “order in store, deliver home” and more. So how can retailers offer these options to consumers while lowering their costs?

Fulfillment 41

Fulfillment Drop-Shipping Shipping Returns 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. How will a promotion during a seasonal peak affect the uplift in demand?

Merchant Services 39

Merchant Services Fulfillment Accounting Markdowns 39

Retalon

AUGUST 2, 2019

Prices (markdowns, promotions, competitor prices, etc.). Consumer behavior (average ticket price, product preferences, time, weather, etc.). Your assortment is different, consumer behaviour is different, your store count is different, your competitive environment is different. POS data (sales, returns, etc.). The result?

Merchant Services 32

Merchant Services Fulfillment Accounting Markdowns 32

Retalon

NOVEMBER 19, 2018

Are the current pricing and markdown strategies still the optimal ones based on the new forecast? And how can retailers determine and account for the shifts in demand that follow? Retalon’s solutions are built one unified platform to account for all factors influencing your business. What products might also see an uplift?

Markdowns 32

Markdowns Fashion Inventory Management Accounting 32

Retalon

NOVEMBER 19, 2018

Are the current pricing and markdown strategies still the optimal ones based on the new forecast? And how can retailers determine and account for the shifts in demand that follow? Retalon’s solutions are built one unified platform to account for all factors influencing your business. What products might also see an uplift?

Markdowns 32

Markdowns Fashion Inventory Management Accounting 32

Retalon

DECEMBER 22, 2014

The marketing and loyalty department provide consumer/promotion data, the POS system provides sales/returns data. How to you distribute/allocate inventory to stores while considering dozens of factors such as geo-demographic diversity, store capacity, consumer demand, local promotions, and special/rare events (eg.

Dead-Stock 32

Dead-Stock Promotions Fulfillment Markdowns 32

Retalon

DECEMBER 22, 2014

The marketing and loyalty department provide consumer/promotion data, the POS system provides sales/returns data. How to you distribute/allocate inventory to stores while considering dozens of factors such as geo-demographic diversity, store capacity, consumer demand, local promotions, and special/rare events (eg.

Dead-Stock 32

Dead-Stock Promotions Fulfillment Markdowns 32

Retalon

AUGUST 16, 2019

Any business that caters to a consumer marketplace deals with 2 common challenges. It’s a balancing act that grows more challenging as the retail industry continues to evolve, increasing consumers options and placing pressure on retailers to accommodate them. This balance act can prove to be very tricky.

Fulfillment 32

Fulfillment Customer Experience Markdowns Consumer 32

Retalon

AUGUST 16, 2019

In any business undertaking that caters to a consumer marketplace, there are two major challenges – delivering an experience that feels personalized to shoppers, while simultaneously creating a consistent experience across retail locations and channels so that customer can enjoy the comfortable familiarity of your brand.

Customer Experience 32

Customer Experience Fulfillment Markdowns Consumer 32

365 Retail

DECEMBER 3, 2021

DemandTec , a pioneer in retail price and promotion optimization technology, today launched Unify by DemandTec, the industry’s first autonomous unified merchandising platform for retailers. Unified merchandising as a strategic advantage. It’s a critical time for retailers, all around the world,” said Todd P. Merchandising today is tough.

Markdowns 52

Markdowns Promotions Retailing Pricing Accounting 52

Retalon

JULY 4, 2018

Consumer behavior & expectations have changed. Unfortunately this is still a major disconnect between consumers and retailers as the Annual Supply Chain Benchmark Survey pointed out, 62% of retailers said inventory visibility was very important, but only 39% said the process was complete or even in progress.

Promotions 32

Promotions Fulfillment Shipping Markdowns 32

Retalon

SEPTEMBER 23, 2020

Today’s retailers are facing a bevy of new challenges, including declining sales, fierce competition from online-only stores, and changing consumer preferences. for any human to account for all of them manually. While valuable, all of the examples above require a lot of human input, and are quite time consuming to manage.

Accounting 47

Accounting Markdowns Management Inventory Management 47

365 Retail

SEPTEMBER 16, 2021

And of course rising inflation doesn’t just impact the end consumers. The ability of AI science to take into account cross-item effects, such as halo and cannibalization, gives merchants and pricing professionals a holistic view of how a single price change or promotional offer will affect a category overall.

Markdowns 98

Markdowns Promotions Accounting Planning 98

Retalon

JUNE 18, 2019

Promotion planning is a constant balancing act. You have many types of promotions to choose from, each with its own effects on consumer behaviour and the resulting outcome. These promotions must also fit within your overall promotional strategy which supports your company’s business goals.

Promotions 32

Promotions Markdowns Payment Services Inventory Management 32

Retalon

SEPTEMBER 22, 2021

With increasing popularity among consumers, BOPIS ‘success last year just accelerated what was already happening. BOPIS allows consumers to collect more information so they can make better decisions. The pandemic forced all consumers to face safety and accessibility concerns when in-store shopping. Lower shipping costs.

Fulfillment 41

Fulfillment Payment Services Inventory Management Shipping 41

Retalon

DECEMBER 8, 2021

In fact, recent McKinsey industry research found that when delivery (fulfillment) times are too long, almost half of consumers will shop elsewhere. It used to be that consumers mostly shopped at stores geographically close to them. An accurate forecast must account for how relevant factors will affect each SKU at the store level.

Merchant Services 41

Merchant Services Fulfillment Drop-Shipping Shipping 41

Retalon

JUNE 18, 2019

Retail Sales Promotion Goals, Examples, and How AI is Optimizing Them. Promotion planning is a constant balancing act. You have many types of promotions to choose from, each with its own effects on consumer behaviour and the resulting outcome. The math needed to account for these effects is hard enough.

Promotions 32

Promotions Markdowns Inventory Management Payment Services 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. On top of having visibility across the business, retailers also need to account for all internal and external factors that affect pricing and demand.

Retailing Pricing 41

Retailing Pricing Markdowns Promotions Accounting 41