Retail TouchPoints

MARCH 3, 2023

at its flagship banner and up 5.8% at Family Dollar stores, but even discounters are facing cautious consumer spending and employee pay raises that aren’t expected to pay off for some time. at its flagship banner and up 5.8% Beauty sales were a bright point at both businesses. during Q4, but they were up 0.6%

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Markdowns Operating Expenses Department Stores Planning 291

Inside Retail

JANUARY 30, 2024

Retailers worldwide may be facing challenging times right now, but the evolution of technology – including the deployment of AI – is opening the way to dramatic improvements in productivity at all stages of the retail business model. And that’s where your Workforce Management systems come into play,” says Bretherton.

Loss Prevention 147

Loss Prevention Shrinkage Inventory Management Markdowns 147

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

Retalon

FEBRUARY 10, 2022

Managing inventory becomes exponentially more complicated as a retailer grows; and often becomes an overwhelming challenge. So, a retailer who wants to gain the competitive edge while avoiding undue losses, needs to be able to spot the indicators of bad inventory and know how to fix them at the root. Drastic Markdowns.

Inventory Turnover 41

Inventory Turnover Management Inventory Management Dead-Stock 41

Retail TouchPoints

SEPTEMBER 15, 2020

As a result, consumer behavior has become harder to predict across multiple locations, which makes zone pricing a must for retailers. Savvy retailers are focusing more heavily on determining demand by geographic zones, using local data to inform prices, promotions and markdowns based on real-time consumer behavior. Within the U.S.,

Markdowns 215

Markdowns Technical Support Promotions Wholesale 215

Retail TouchPoints

FEBRUARY 2, 2022

Many retailers are worried that they don’t have all the data at their fingertips, like product data, customer data, transactional data, when items sold, on what device and more. Everyone starts somewhere, and it’s OK wherever you are at in your data journey. I don’t have all the data I know I should have, is that OK?

Retailing Pricing 236

Retailing Pricing Markdowns Accounting Outdoor 236

Retail TouchPoints

SEPTEMBER 8, 2023

At the same time, many retailers are reporting higher and higher shipping costs, which are affecting profits on their balance sheets. Today’s promise engines have gotten smarter about transit time, carrier rates, inventory location and other factors. The real complexity comes when we are looking at thousands of SKUs.

Merchant Services 221

Merchant Services Shipping Fulfillment Markdowns 221

Retail Focus

DECEMBER 8, 2021

By intelligently optimising pricing, markdowns and promotions, based on demand triggers, retailers can make the granular decisions needed at each store location to increase sell-through and protect margins, whilst meeting consumers expectations on prices and discounts.”.

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Markdowns Promotions Consumer Fashion 148

Inside Retail

MARCH 15, 2022

An assortment plan provides: A solid structure around how many options of styles or colours to buy and at what price, gives buyers guidance when buying inventory, and gives merchandisers a financial plan and confidence in the sales budgets. This is all managed by the store grading. What is assortment planning? More on this later.

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Planning Store Layout Markdowns Location 130

Retail Smart Guys

DECEMBER 11, 2023

At Retail Smart Guys , we make sure our services empower our clients to grow strategically. Our experts provide a tailored and structured approach to inventory management, allowing you to focus on what you do best – delighting your customers. Our Merchandise Planning and Open-To-Buy services bring order to the retail chaos.

Markdowns 52

Markdowns Inventory Management Planning Location 52

Retalon

JANUARY 5, 2021

So it’s no surprise that retailers are beginning to take a serious look at their mid-season inventory balancing practices. Simply put, inventory balancing is the process of moving excess inventory from one retail location to a retail location where that inventory is in demand. What is inventory balancing?

Location 41

Location Inventory Management Markdowns Fulfillment 41

365 Retail

FEBRUARY 17, 2022

“Pacsun wanted to proactively manage the costs created by the increase in our online sales,” said Mike Relich, Co-CEO of Pacsun. “By By adding more intelligence to our allocation processes with antuit.ai, we allocated inventory for the omnichannel demand and minimised split shipments.”

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. Calculate the seasonality for every SKU, at every store. Account for more variables in your seasonal merchandise planning.

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Markdowns Promotions Accounting Planning 41

Retail Smart Guys

SEPTEMBER 2, 2022

Particularly in your inventory, which is the biggest expense every retail store has, establishing the correct level of inventory, on a department by department basis, and a location by location basis, is the most important job in retail. Proper inventory levels in all classes, at all locations, are ensured.

Planning 40

Planning Markdowns Inventory Management Location 40

Retail TouchPoints

DECEMBER 12, 2023

In addition to this timing variation, over 60% of shoppers plan to do their browsing online, yet 85% expect to buy at least one product in a store. Add it all up and it’s clear that the timing duration, and location of holiday shopping is not like the old days.

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Markdowns Retailing Pricing Promotions Fulfillment 269

Retalon

FEBRUARY 15, 2022

Demand forecasting at store/SKU levels leads to better allocation of inventory across the entire business from the start. 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. Let’s take a look at what those are.

Markdowns 41

Markdowns Inventory Turnover Fulfillment 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. But first, let’s take a look at what reducing inventory really means, and why it matters. Why reducing inventory costs matters.

Markdowns 41

Markdowns Inventory Management Promotions Planning 41

Retail Assist

APRIL 14, 2021

Stock replenishment is a standard retail practice, to ensure that the right products are in the best place, at the optimum quantity. Retailers must be able to move stock quickly between different locations, such as stores, concessions and franchises, and partners, whilst also maintaining healthy warehouse stock for eCommerce orders.

Markdowns 52

Markdowns Fulfillment Promotions Shipping 52

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?

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Inventory Management Fulfillment Markdowns Location 47

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. not all IT investments bring equal ROI.

Fulfillment 41

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Retalon

MAY 25, 2020

A product is introduced at a high price, and the price is gradually lowered as demand for the item declines. At the same time, Sales increase. because more people buy at lower prices). Finally, Total Weekly Profit quickly falls at the end. For example you can’t simply start selling cucumbers at $10 a piece.

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Markdowns Promotions Management Marketing 41

Retail TouchPoints

OCTOBER 3, 2023

It was at that point that putting the technology and operations in place to fulfill from an increasingly complex supply chain network embarked upon its next frontier. The digital channel typically had one or more dedicated facilities, which ironically were often planned and managed like an individual additional brick-and-mortar location.

Fulfillment 257

Fulfillment Drop-Shipping Markdowns Shipping 257

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. But at best, this only happens once a quarter (and often at longer intervals). Everything you need to know about product clustering / grouping.

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M19 Retail

MARCH 22, 2021

MIAMI, FLORIDA, March 22, 2021 – Mi9 Retail, the number one vendor for tier one retailers (RIS 2021 Software LeaderBoard) that enables them to automate and optimize merchandise management and retail planning is pleased to announce a strategic partnership with Planalytics, the leading provider of weather-informed demand analytics and insights.

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Markdowns Inventory Management Planning Management 40

Indigo 9 Digital

SEPTEMBER 7, 2022

The prevailing wisdom at the time which hasn’t gone completely away is that you can’t translate a high touch experience, one often involving thousands of dollars, online. Commissions typically range from 25%-33% depending on whether in addition to providing eCommerce functionality Farfetch manages shipping, returns or other services.

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Boutique Fashion Customer Experience Markdowns 98

Retalon

APRIL 21, 2021

At its most basic, order fulfillment is the combination of steps required to get products into the hands of customers. direct-to-consumer e-commerce orders), retailers now have to worry about fulfilling orders across multiple complex channels and B&M locations. Will you deny returns at a store level? Emphasizing BOPIS.

Fulfillment 41

Fulfillment Drop-Shipping Shipping Returns 41

Indigo 9 Digital

SEPTEMBER 1, 2022

representing the fastest growth in at least a decade and sales so far this year have been strong. That means if there is slow moving merchandise the retailer doesn’t have to worry about taking markdowns to sell the inventory. Marks & Spencer’s revenues last year were up 21.5% respectively.

Drop-Shipping 95

Drop-Shipping Markdowns Planning Grocer 95

Retalon

APRIL 14, 2021

It needs to be relevant to the current (and upcoming trends), as well as sensitive to the unique geo0demographics of your channels and locations. Developing a solid product assortment strategy at the beginning optimizes revenue and profit while minimizing the risk. Don’t use the same product assortment across all locations.

Markdowns 41

Markdowns Planning Location Accounting 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. Customers stay in their vehicles at designated parking spots, and employees bring their purchases out to the car.

Fulfillment 41

Fulfillment Payment Services Inventory Management Shipping 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. Retailers carry tens or hundreds of thousands of SKUs, far too many for buyers to accurately forecast every product at each channel/location.

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Markdowns Inventory Management Promotions Accounting 32

Retalon

DECEMBER 8, 2021

This article will answer those questions while also looking at the best practices being used today, and how to pick the right order fulfillment model. 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. What is order fulfillment?

Merchant Services 41

Merchant Services Fulfillment Drop-Shipping Shipping 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. 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

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. 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

APRIL 27, 2021

It can analyze billions of data points and predict demand at a level of granularity that’s simply impossible to reach using Excel. In effect, this means a reduction of total inventories, maximized sales, and reduced markdowns. to optimize inventory for gross margins. Order fulfillment automation. check out their story here).

Fulfillment 41

Fulfillment Markdowns Promotions Returns 41

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. But don’t wait too long.

Merchant Services 41

Merchant Services Markdowns Promotions Location 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.

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Markdowns Promotions Customer Experience Fulfillment 32

Retalon

MARCH 4, 2019

It then calculates the demand of every individual SKU across each location and/or channel and then proactively makes profitable recommendations. Every time a number is changed, the entire plan must be re-calibrated to consolidate the number and make sure it works across all locations, products etc. Inventory Management.

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Inventory Management Markdowns Planning Fulfillment 32