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Retail Assortment Strategies: What Are They & How Do They Work?

Wiser

Too wide and you’ll end up with leftover dead stock. Successful retail assortment strategies will take many different factors into account, such as customer base, location, store capacity, etc. This way you can rely on regular purchases with little worry of retaining dead stock.

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5 Online Hacks to Boost Local Footfall to Your Store

Retail Next

3 – Create promotional offers. Promotional offers are commonplace for e-commerce businesses, but not enough brick-and-mortar stores focus on this strategy. You can create incentives for your customers to head to your premises by: Posting exclusive in store promotions. Stocking exclusively in-store products.

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How Predictive Analytics Are Transforming Omni-Channel Retail

Retalon

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.

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How Predictive Analytics Are Transforming Omni-Channel Retail

Retalon

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.

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4 Critical Steps for Optimizing Omnichannel Order Fulfillment in 2021

Retalon

This includes everything from storing inventory, processing orders, picking stock, shipping packages, and delivering orders to the end consumer. Firstly, a BOPIS model simply pushes the optimization burden to the individual stores — as consumers tend to check individual store stock before ordering.

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How charity shops became cool

Retail Gazette

The concept is the brainchild of Wayne Hemingway MBE, founder of British fashion brand Red or Dead and Maria Chenoweth, CEO of TRAID, and is a destination where people can shop the best of charity retail all in one place. M&S sends unsold stock to charity partners Oxfam, Newlife or SmartWorks. Wackett applauds such initiatives.

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5 Highly Effective Retail Markdown Strategies that Work in 2021

Retalon

And since most markdowns are not planned for in advance (or at least accounted for in the pre-season planning stages), they frequently drain profits considerably more than they have to. Markdowns are used to temporarily increase demand for low-demand products, ideally long enough to sell through all stock.