Retail TouchPoints

NOVEMBER 25, 2020

At Mejuri, we view data as a strategic asset, especially when it helps us create more compelling customer experiences,” said Majed Masad, COO at Mejuri in an interview with Retail TouchPoints. Mejuri uses the real-time tracking to swiftly, and fluidly, pivot strategies. “A

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Retail Focus

FEBRUARY 17, 2022

Antuit.ai’s Forecasting, Allocation and Replenishment solution is an omnichannel-aware suite that employs leading-edge AI and machine learning to anticipate consumer demand at the most granular levels across all fulfilment channels by leveraging internal and external data to evaluate all demand drivers.

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Retail TouchPoints

JUNE 18, 2020

OVERTIME by DICK’S Sporting Goods locations will offer an assortment of apparel, footwear and equipment at up to 75% off. The location will stock brands including Nike , Adidas and Under Armour , with additional markdowns added throughout the year to keep inventory fresh. Spartanburg, S.C. and Racine, Wis.

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Inside Retail

JUNE 1, 2021

Seskin, whose father, JD Sports Australia chairman Hilton Seskin, is a strategic advisor to TheDOM.com, declined to name the brands that will be available at launch, but said the team has been “hand-picking” the ones it wants to work with. “We’ve Everyone might go 30 per cent off on their first markdown, but their reach is limited.

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Retail Smart Guys

FEBRUARY 19, 2024

As we embark on the exciting journey that is 2024, I wanted to share something that has proven to be a game-changer for our clients at Retail Smart Guys and that is our Inventory Planning service. For multi-store retailers, our planning extends to each location, ensuring a cohesive and effective strategy across all outlets.

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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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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.,

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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 236

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Retalon

SEPTEMBER 1, 2023

Mark it down…strategically Markdowns are generally part of any product’s life cycle. So, if you have a ton of inventory and markdowns are a must, then the key is to sell it while making the most profit possible. Instead, prioritize strategic markdowns.

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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?

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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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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. You are optimising the value of that product by discounting at the right time, rather than too early.”

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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?

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Retail TouchPoints

APRIL 6, 2022

Shoppers should be able to quickly locate pertinent product information. They want to be certain they’re making the right purchase, so help them arrive at that decision with full confidence. An item’s popularity or novelty can be communicated via badges that read “best seller,” “newly added,” or even “new markdown.”

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Retail Smart Guys

DECEMBER 11, 2023

At Retail Smart Guys , we make sure our services empower our clients to grow strategically. Subsequently, we furnish a meticulously detailed monthly open-to-buy plan for each category, with a specific focus on individual locations for multi-store retailers. Our customers tell us that the main benefit they see is more cash in the bank.

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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. What is assortment planning? This is all managed by the store grading. More on this later.

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365 Retail

FEBRUARY 17, 2022

Antuit.ai’s Forecasting, Allocation and Replenishment solution is an omnichannel-aware suite that employs leading-edge AI and machine learning to anticipate consumer demand at the most granular levels across all fulfilment channels by leveraging internal and external data to evaluate all demand drivers.

Markdowns 52

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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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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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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.

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Retail TouchPoints

MAY 28, 2020

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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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.

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Retail Smart Guys

NOVEMBER 28, 2022

They are knowledgeable in proper placements of your products and better store locations, skilled in amplifying your branding and messaging, and up-to-date in all of these retail trends. Fourth, they are geeks at solving your technical problems. Third, they are effective in making your inventory efficient.

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Wiser

AUGUST 25, 2020

On top of that, local and national governments will have their own guidelines and requirements for organizations at this time. Perhaps you reduced your hours or installed hand sanitizer at the entrances. 4: Use Promotions and Markdowns to Move Seasonal Inventory. This will help prepare everyone for when they do come back.

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Retail Adventures

SEPTEMBER 28, 2020

Begin at the back: New merchandise is always featured at the front of the store, so start at the back where you will find the clearance racks. There’s a reason milk and eggs are housed at the back of the store – retailers want you to have to have to walk through new and promotional items first.

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Retail Adventures

JUNE 4, 2020

The COVID-19 shutdown put retailers at a disadvantage and now everyone is playing catch up. Here are some of the areas to keep at the top of your To-Do List: You have Two Stores Now. Remember, if you run an event in your physical location carry that same event over to online store as well. Be Prepared for Markdowns.

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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.

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Retalon

OCTOBER 8, 2020

But first, let’s take a look at what reducing inventory really means, and why it matters. 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. Looking at past performance only gets you so far.

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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.

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Retalon

JANUARY 6, 2021

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. Smaller B&M retailers with one or two locations may find replenishment planning fairly simple. Why is replenishment planning so complicated?

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Retalon

FEBRUARY 10, 2022

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. Identifying bad inventory can mean the difference between bringing in profits or losses at the end of the year. Drastic Markdowns.

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Retalon

NOVEMBER 11, 2021

In turn, consumers now expect these same options to be available across all retail locations (both online and in-store). While most retailers are investing at least some portion of their budgets into IT out of sheer necessity (updating old infrastructure, outsourcing tech support to deal with influx of employee tickets, etc.),

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Retalon

MARCH 2, 2021

What sizes should you offer for each product at each location? If you run out of stock on winter jackets at your busy locations, you will not have an accurate gauge as to what your true demand was last year and you will repeat the same mistake in your forecast for next year. . How seasonal is your business?

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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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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.

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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. With more pricing control brands can offer more merchandise at full price, avoiding markdowns which are thought to negatively impact a luxury brand’s image.

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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.

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