Retalon

NOVEMBER 20, 2020

Price optimization and price management are terms that often are used interchangeably, but they are not the same thing. When used properly, both price management and price optimization can substantially affect a retailer’s profitability. You cannot optimize prices without managing them, however.

Management 41

Management Markdowns Accounting Retailing Pricing 41

Retail TouchPoints

FEBRUARY 2, 2022

Many of your retail peers found themselves with the dilemma of missing data — from the lack of customer data, transaction history for certain items or timeframes or sales broken out by sales type (regular/base, promotion and markdown). This is your starting point and your job is to build up and improve it.

Retailing Pricing 245

Retailing Pricing Markdowns Accounting Outdoor 245

Retail Gazette

MARCH 11, 2024

to £288.6m, which it attributed to the improved profitability to its sales performance, tight control of markdown, effective cost management, and positive movements in input prices. to £1.15bn due to price increases, however EBITDA plunged 37.2% to £124.1m and operating profit before exceptionals spiralled almost 80% to £18.7m.

Markdowns 59

Markdowns Fashion Accounting Planning 59

Retalon

FEBRUARY 10, 2022

Managing inventory becomes exponentially more complicated as a retailer grows; and often becomes an overwhelming challenge. Indicators you’re managing bad inventory. Drastic Markdowns. Last minute markdowns that offload stock at a loss. A high cost of overstock management. Siloed inventory management.

Inventory Turnover 41

Inventory Turnover Management Inventory Management Dead-Stock 41

Retail TouchPoints

SEPTEMBER 29, 2022

This year saw the proposal of the Fashion Sustainability and Social Accountability Act. Take for example Ingka Group , a strategic partner in the IKEA franchisee system, which acquired approximately 60,000 acres of forestland in Oklahoma and Texas to boost its responsible forest management. A Starting Point.

Fast Fashion 360

Fast Fashion Fashion Markdowns Consumer 360

Retail TouchPoints

OCTOBER 15, 2021

Products that are sized 18 and above and available in the UK only account for 14% of the total market. There is no standardization across the industry and inconsistent sizing leads to markdowns and returns. Furthermore, products sized 0-10 make up the same share as products sized 12-18, despite the plus-sized market growing steadily.

Consumer 290

Consumer Merchant Services Markdowns Fulfillment 290

Inside Retail

AUGUST 25, 2022

Suppliers were going broke left, right and centre, so it was all about the efficient management of inventory. But the biggest risk is buying and the efficient management of our working capital. Of course, you also have to manage costs, but that’s always important. We also had a forensic focus on our inventory stock turn.

Drop-Shipping 130

Drop-Shipping Markdowns Management Shipping 130

365 Retail

FEBRUARY 17, 2022

With 330 bricks-and-mortar stores globally, its digital fashion offering, available in both the UK and US, has experienced fast-growth, and now accounts for 40% of its sales. “Pacsun wanted to proactively manage the costs created by the increase in our online sales,” said Mike Relich, Co-CEO of Pacsun. “By

Markdowns 52

Markdowns Fulfillment Shipping Fashion 52

Retalon

JANUARY 7, 2021

With seasonal product life-cycles becoming ever shorter, retailers need more strategic and granular ways to plan their seasonal assortments so they can maximize revenue while minimizing markdowns. Account for more variables in your seasonal merchandise planning. This is most obvious when a promotion doesn’t take inventory into account.

Markdowns 41

Markdowns Promotions Accounting Planning 41

Retalon

FEBRUARY 24, 2022

Other benefits of OTB management include: More flexible inventory. 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. OTB management.

Markdowns 41

Markdowns Inventory Turnover Accounting Planning 41

Retalon

MARCH 7, 2022

Retalon, a Toronto-based retail AI company, has been recognized for advancing retail technology in supply chain and merchandising in 2022. Retail Today considered nearly 7,000 nominees for these awards. “Retail CIO Radar 2022 helps CIOs and Retail business leaders to stay on top of the latest innovations.

Markdowns 41

Markdowns Inventory Management Accounting Promotions 41

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. Unfortunately, approximations often lead to lost sales, drastic markdowns, and unfulfilled potential. Identifying and accounting for relevant factors.

Markdowns 41

Markdowns Inventory Turnover Fulfillment Accounting 41

Retalon

OCTOBER 24, 2023

This overstock issue is not new, and retailers have tried to manage their unsold goods through donations and resellers, but there is simply too much inventory. 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. Billion in overstocks.

Markdowns 41

Markdowns Fast Fashion Consumer Accessories 41

Retalon

JUNE 29, 2013

In order to achieve this there is a lot of thought put into inventory management, allocation, and replenishment processes. For Example: When products don’t sell well at specific stores, retailers are forced to markdown inventory in order to clear the inventory. Originally Published on PA Times. However, not all solutions are equal.

Inventory Management 32

Inventory Management Management Markdowns Fulfillment 32

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

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. The way you manage the inventory investments for your stores, warehouses, and distribution centers determines your success as a retailer.

Markdowns 41

Markdowns Inventory Management Promotions Planning 41

Mass Relators

JUNE 21, 2021

got off to a fast start in fiscal 2021, as top- and bottom-line results for the first quarter exceeded the expectations of both management and Wall Street. GOODLETTSVILLE, Tenn. Dollar General Corp. Net income for the quarter ended April 30 increased 4.2% million, or $2.82 per diluted share, well ahead of the consensus estimate of $2.19

Payment Services 52

Payment Services Markdowns Apparel Accounting 52

Retalon

JULY 28, 2021

Simply put, seasonal demand forecasting is a type of advanced demand forecasting that takes into account the many complex variables of predicting the performance of seasonal products (non-evergreen products). Retailers either lose sales and customer satisfaction due to inventory shortages or face drastic and expensive markdowns.

Markdowns 41

Markdowns Inventory Management Accounting Management 41

Retalon

JULY 28, 2021

Simply put, seasonal demand forecasting is a type of advanced demand forecasting that takes into account the many complex variables of predicting the performance of seasonal products (non-evergreen products). Retailers either lose sales and customer satisfaction due to inventory shortages or face drastic and expensive markdowns.

Markdowns 41

Markdowns Inventory Management Accounting Management 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. Replenishing stock is a key facet of inventory management which helps to balance inventory levels during a selling period. What is replenishment? What is replenishment stock?

Inventory Management 47

Inventory Management Fulfillment Markdowns Location 47

Retalon

FEBRUARY 14, 2022

This overstock issue is not new, and retailers have tried to manage their unsold goods through donations and resellers, but there is simply too much inventory. 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. Billion in overstocks. Brand Image.

Markdowns 41

Markdowns Fast Fashion Consumer Accessories 41

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

NOVEMBER 11, 2021

POS / customer engagement software Ecommerce platforms Data analytics and business intelligence software Order management software. Retail IT services: Tech support Field support Device management Software management Disaster recovery Software integration Custom development. Why invest in pricing and promotions?

Fulfillment 41

Fulfillment Markdowns Promotions Shipping 41

Retalon

APRIL 27, 2021

However, traditional spreadsheet analytics cannot account for store-by-store variations in the promotion’s effectiveness or secondary effects such as demand cannibalization. In effect, this means a reduction of total inventories, maximized sales, and reduced markdowns. 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. The problem stems from business intelligence, buyer intuition, or company targets lacking the ability to account for all factors that affect demand.

Markdowns 32

Markdowns Inventory Management Promotions Accounting 32

Retalon

APRIL 21, 2021

This means that optimizing your fulfillment across all channels requires building a holistic process that takes your specific company policies and labour considerations into account, while still finding the cheapest and fastest method for fulfilling omnichannel orders (while keeping your customers happy) — for every order.

Fulfillment 41

Fulfillment Drop-Shipping Shipping 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. The problem stems from business intelligence, buyer intuition, or company targets lacking the ability to account for all factors that affect demand.

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. The problem stems from business intelligence, buyer intuition, or company targets lacking the ability to account for all factors that affect demand.

Markdowns 32

Markdowns Inventory Management Promotions Accounting 32

Retalon

JANUARY 5, 2021

Most of today’s inventory management issues start at the level of forecasting. For example, legacy forecasting methods fail to account for the fact that new products in an assortment will inevitably impact sales of older products.

Location 41

Location Inventory Management Markdowns Fulfillment 41

Indigo 9 Digital

FEBRUARY 28, 2023

Source: Bloomberg "[Forever 21] has lost much of the excitement and oomph which is critical to driving footfall and sales and is now something of an also-ran which is too easily overlooked," said Neil Saunders, the managing director of GlobalData Retail. An inability to leverage social media effectively. Large stores are inherently risky.

Fast Fashion 98

Fast Fashion Fashion Apparel Department Stores 98

Retalon

APRIL 14, 2021

By grouping products into families of similar attributes, you’ll have a much more agile method to manage and track their assortment, which can help avoid product cannibalization and gaps in the assortment which form in-season. Account for changing consumer behaviour and preferences. Change is the only constant in retail.

Markdowns 41

Markdowns Planning Location Accounting 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. Merchants and inventory managers attended more co-planning meetings.

Merchant Services 39

Merchant Services Fulfillment Accounting Markdowns 39

Retalon

JANUARY 20, 2014

Retalon has helped businesses plan their operations, optimize prices and markdowns, and ensure efficiency in supply chain and inventory management processes. From inception, Retalon’s analytics have been built on a common analytic platform that takes into account the entire retail business process. FREMONT, Calif.–Nov

Markdowns 32

Markdowns Inventory Management Accounting Promotions 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

SEPTEMBER 1, 2020

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. Without a solid demand forecast, you risk misallocating inventory and missing your revenue targets while watching turns collapse.

Promotions 41

Promotions Markdowns Inventory Management Accounting 41

Retalon

SEPTEMBER 13, 2015

For example, one retailer might want to manage their inventory better, so they would use KPIs like inventory to sales ratios or inventory integrity. This dramatically increases revenue from transfers, lowers inventory costs and increases sales while helping you avoid unnecessary markdowns and subsequent allocations. In-Stock Percent.

Markdowns 32

Markdowns Promotions Customer Experience Fulfillment 32