Remove Apparel Remove Customer Retention Remove Inventory Management
article thumbnail

Blockchain for Supply Chain Transparency: Improving Trust in Retail

Retail Focus

For retailers, smart contracts can streamline procurement, inventory management, and even customer refunds. This is particularly relevant in industries like apparel, where supply chains often span multiple continents and include varying labour laws.

article thumbnail

How to Run a Thriving Pet Store: 10 Expert Retail Tips

RETAIL MANAGEMENT SOFTWARE

Must-haves: Premium pet food & treats Health and grooming supplies Toys and enrichment items Aquariums, terrariums, and cages Pet apparel and accessories Pro Tip: Use sales data and customer feedback to rotate low-performing items and introduce new SKUs regularly.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Mastering How to Start a Subscription Business: Your Guide to Success

Small Biz Trends

Curation Model : This approach involves offering curated products based on customer preferences. For example, subscription boxes may feature trendy apparel or gourmet snacks, fostering a personalized shopping experience. Access Model : Customers pay for access rather than ownership. How can I provide excellent customer service?

article thumbnail

How Puma is Using AI-Powered Styling to ‘Brainstorm’ with its Customers — and Increase AOV

Retail TouchPoints

The result is a carousel of styled looks at the bottom of every PDP that shows the featured product along with complementary apparel and accessories. Puma has deployed the solution across product detail pages (PDPs) both on its website and its newly launched app in the U.S. and Canada.

article thumbnail

Retail Consumer Behavior Patterns and Shifting Dynamics: The Future of Retail & Retail Trends

RETAIL MANAGEMENT SOFTWARE

AI-driven apps for visual recognition are being used by followers to scan images and social media posts to dissect and identify each apparel worn by their favorite entertainer, sports athlete, etc. Inventory management and customized customer information will also benefit from these data-driven solutions.

article thumbnail

10 Most Important Ecommerce KPIs to Measure in 2023

Retalon

How to Calculate GMROI = (Annual Gross Margin ÷ Average Inventory) x 100 To break this down: Gross Margin = Total Revenue – Cost of Goods Sold Average Inventory = (Beginning Inventory + Ending Inventory) / 2 Benchmarks GMROI can vary widely depending on the retail sector: Overall, a GMROI of 2.0+ Anything under 1.0