Retalon

FEBRUARY 15, 2022

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. When Inventory is proactively allocated among locations to meet demand, customers are not repeatedly met with empty shelves pushing them to other retailers.

Markdowns 41

Markdowns Inventory Turnover Fulfillment Accounting 41

Retalon

MARCH 2, 2021

Destination resorts that run gift shops must account for occupation rates in their hotels as well as weather. . What channels do you promote through? What sizes should you offer for each product at each location? Do you run promotions? Run a promotion last year that you don’t plan for this year? For instance, .

Fashion 41

Fashion Markdowns Promotions Accounting 41

Retalon

NOVEMBER 20, 2020

Before we go any further it is important to make a clear distinction between price management and price optimization : Price optimization is the process of identifying the optimal price point for any given product at any given location that will yield the highest profit. You cannot optimize prices without managing them, however.

Management 41

Management Markdowns Accounting Retailing Pricing 41

Retalon

NOVEMBER 11, 2021

In turn, consumers now expect these same options to be available across all retail locations (both online and in-store). Advanced analytics tools can pinpoint demand for a specific SKU at a specific location or channel. Why invest in pricing and promotions?

Fulfillment 41

Fulfillment Markdowns Promotions Shipping 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. The purpose of replenishment is to ensure that a retailer has the right quantity of product, at the right location, at the right time to maximize sales and minimize costs.

Planning 41

Planning Markdowns Accounting Shipping 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

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. They quickly learn to time their purchases for the inevitable markdowns rather than buying products during the main lifecycle.

Markdowns 41

Markdowns Inventory Management Promotions Planning 41

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

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. There are multiple factors and variables to account for and stay ahead of. Of course, this is easier said than done. So, how are retailers managing stock replenishment today?

Inventory Management 47

Inventory Management Fulfillment Markdowns Location 47

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. Promotional uplift. Avoided overstocks and minimized markdowns. More predictable promotions and seasonal events. Seasonality.

Markdowns 41

Markdowns Promotions Consumer Fashion 41

Retalon

FEBRUARY 13, 2018

Business Intelligence (BI) and traditional forecasting methodology can provide visibility into a retailer’s past sales, promotions, stock levels, and more. 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

Business Intelligence (BI) and traditional forecasting methodology can provide visibility into a retailer’s past sales, promotions, stock levels, and more. 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

Business Intelligence (BI) and traditional forecasting methodology can provide visibility into a retailer’s past sales, promotions, stock levels, and more. 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

JUNE 22, 2020

The Cons of using a Sales-based forecast: The problem with this approach is that if you’re a modern retailer that sells through multiple channels, with multiple locations and DCs, a sales-based forecasting will result in far too many exceptions. Demand Forecast Definition.

Merchant Services 41

Merchant Services Markdowns Promotions Location 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

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

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

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

direct-to-consumer e-commerce orders), retailers now have to worry about fulfilling orders across multiple complex channels and B&M locations. Instead of turning every B&M store into a fulfillment node, some retailers have realized massive cost savings by centralizing fulfillment to a select few locations.

Fulfillment 41

Fulfillment Drop-Shipping Shipping Returns 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? And how can retailers determine and account for the shifts in demand that follow? What products might also see an uplift?

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? And how can retailers determine and account for the shifts in demand that follow? What products might also see an uplift?

Markdowns 32

Markdowns Fashion Inventory Management Accounting 32

Retalon

JULY 4, 2018

These tools are not able to account for new products, categories, and markets, or used & exchanged items, let alone suggest accurate and tangible actions going forward. Usually by purchasing more inventory they already have in other locations, or marking down inventory that is selling too slow.

Promotions 32

Promotions Fulfillment Shipping Markdowns 32

Retalon

DECEMBER 8, 2021

As mentioned earlier, in its simplest form, order fulfillment is the physical process of getting a purchased product from a storage location to the customer. Some factors affecting this decision include the proximity of the storage location to the customer, inventory availability, and the labour involved. What is order fulfillment?

Merchant Services 41

Merchant Services Fulfillment Drop-Shipping Shipping 41

Retalon

SEPTEMBER 22, 2021

Instead of only shipping to customers’ homes, retailers let online customers shop from their local and online store’s inventory and pick up their orders from their closest brick-and-mortar location the same day. Store-specific information about curbside or in-store pickup locations. Payment, return, and exchange policies.

Fulfillment 41

Fulfillment Payment Services Inventory Management Shipping 41

Retalon

AUGUST 16, 2019

Delivering an experience that feels personalized to shoppers, while also… Creating a consistent experience across retail locations and channels so that customer can enjoy the comfortable familiarity of your brand. Any business that caters to a consumer marketplace deals with 2 common challenges.

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

Retalon

SEPTEMBER 23, 2020

for any human to account for all of them manually. Thus, in order to accurately forecast the future and account for the most important correlations, retail predictive analytics must use a combination of AI, advanced mathematics, and intelligent automation. Promotions and inventory management).

Accounting 47

Accounting Markdowns Management Inventory Management 47

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

Retalon

JUNE 10, 2020

may cover generic approaches to managing and optimizing price for any given product, but they don’t account for the most critical variables that determine your pricing success. Retailers who don’t account for these considerations often struggle with profitability. ultimately determine how profitable your business is.

Planning 41

Planning Markdowns Promotions Accounting 41

Retalon

NOVEMBER 2, 2021

Simply put, they have the things you want, when you want them, close enough to your location to guarantee you’ll get them tomorrow. The big-picture reality is that inefficient supply chains are actually costing retailers billions today , and perhaps trillions in the future : Markdowns on excess inventory cost US retailers $300 billion.

Supply Chain Management 41

Supply Chain Management Dead-Stock Markdowns Shipping 41

M19 Retail

MARCH 17, 2021

It helps boost staff productivity by providing real-time inventory access to store managers and store associates, while establishing a single version of the truth for inventory, pricing, and location data.

Inventory Management 40

Inventory Management Management Markdowns Planning 40

Retalon

OCTOBER 18, 2013

Another thing that retailers are trying to do today is to monitor inventory in different locations. The reality today is they can do much more by balancing inventory between locations by satisfying online requests of customers directly from different locations and that basically allows them to use inventory much more efficient.

Markdowns 32

Markdowns Promotions Planning Accounting 32

Retalon

SEPTEMBER 3, 2020

There are several different approaches that companies take to measuring GMROI, each based on the nuances of their unique internal accounting systems. While the formula for GMROI will be similar in most situations, the costs taken into account will be very different depending on your goal. its purpose should still be the same.

Returns 41

Returns Accounting Fulfillment Markdowns 41