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AI in Action: How Retailers are Transforming Demand Forecasting with New Tech

Retail TouchPoints

And for larger-scale retailers, that need for an accurate forecast gets complicated, and re-complicated, by the need to correctly place and price inventory in multiple locations in order to achieve maximum sell-through with minimum discounting.

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The Retail Landscape Continues to Evolve — Data Departments Need to Keep Pace

Retail TouchPoints

In the late 2010s, the obsession with amassing consumer data peaked when retailers were collecting an average of 23 behavioral advertising cookies on their homepages. Its advanced algorithm can now operate on simple, publicly available data and still generate the insights needed to sell advertisements effectively. Almost never.

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Off-Price Quarterly Results Showcase Benefits Of ‘Essential Retailer’ Status

Retail TouchPoints

While the retailer incurred additional expenses from associate bonuses and other COVID-19-related expenditures, Dollar General was able to reduce markdowns, on top of benefiting from increased purchase volume. Unlike some other retailers , Dollar General’s selling, general and administrative (SG&A) expenses actually dropped, to 20.5%

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15 Tips to Succeed as Brick-and-Mortar Retail Reopens

Wiser

Log on to social media, buy advertisements, post notes on your door, and spread the word that you’re coming back. You want your merchandisers on board with your strategy and ready to enter your locations to set up any displays as shoppers come back. 4: Use Promotions and Markdowns to Move Seasonal Inventory.

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15 Things to Do RIGHT NOW to Get Your Store Ready for Holiday 2020

Retail Adventures

Place carts and baskets in key locations throughout the sales floor, not just near the door. Spinner racks located near the cash wrap work, too. These signs make it easy for shoppers to locate what they came in to buy. Increase your advertising and marketing efforts. People tend to stop shopping once their hands are full.

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11 Things to Do RIGHT NOW to get Your Store ready for Holiday 2022

Retail Adventures

Place carts and baskets in key locations throughout the sales floor, not just near the door. Spinner racks located near the cash wrap work, too. These signs make it easy for shoppers to locate what they came in to buy. Increase your advertising and marketing efforts. People tend to stop shopping once their hands are full.

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Mi9 Retail and Planalytics Partner to Improve Demand Forecasting Accuracy and Increase Profitability for Retailers by Incorporating Weather Analytics

M19 Retail

By incorporating weather information into their forecasts, retailers can realize annual forecast accuracy improvements of up to 30 percent for specific products, time periods, and locations. carrying costs, markdowns, shrink, etc.). Up to 70 basis points of additional profit due to increased sales and reduced inventory costs (e.g.