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%

Markdowns 309

Markdowns Operating Expenses Department Stores Planning 309

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.

Markdowns 232

Markdowns Technical Support Promotions Wholesale 232

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 251

Merchant Services Shipping Fulfillment Markdowns 251

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. Time-sensitive or exclusive items can be promoted on an aisle endcap.

Checkout 299

Checkout Markdowns Apparel Promotions 299

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 246

Retailing Pricing Markdowns Accounting Outdoor 246

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

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. Some of these factors include: Pricing Consumer preferences Competitors Events Promotions Vendors Logistics etc.

Markdowns 41

Markdowns Promotions Accounting Planning 41

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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Markdowns Payment Services Promotions Drop-Shipping 120

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. And don’t forget the shopper looking for that end-of-season deal.

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Markdowns Retailing Pricing Promotions Fulfillment 278

Retail Smart Guys

NOVEMBER 28, 2022

They know how you can hire great staff, improve your people’s skills, promote deserving individuals, and terminate employees that do not serve you well. 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.

Markdowns 52

Markdowns Promotions Retail Trends Location 52

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 can automate replenishment using intelligent algorithms, which can be particularly beneficial during promotional or seasonal events. Replenishment is essential to avoid stock-outs.

Markdowns 52

Markdowns Fulfillment Promotions Shipping 52

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.

Shopping 90

Shopping Markdowns Consumer Promotions 90

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.

Markdowns 90

Markdowns Returns Promotions Planning 90

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

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.),

Fulfillment 41

Fulfillment Markdowns Promotions Shipping 41

Retalon

MARCH 2, 2021

What channels do you promote through? What sizes should you offer for each product at each location? Do you run promotions? Run a promotion last year that you don’t plan for this year? What are your customer profiles? What channels do you sell through? What fulfillment methods are you offering?

Fashion 41

Fashion Markdowns Promotions Accounting 41

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.

Markdowns 41

Markdowns Inventory Management Promotions Planning 41

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.

Management 41

Management Markdowns Accounting Retailing Pricing 41

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.

Markdowns 41

Markdowns Promotions Management Marketing 41

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.

Markdowns 41

Markdowns Promotions Inventory Management Accounting 41

Retalon

DECEMBER 17, 2021

Typically unexpected, this situation can be extremely detrimental for retailers and also has the potential to create additional issues such as: Inventory Imbalances Overstocks Markdowns. To better understand how this is accomplished, let’s look at some product cannibalization examples. Product Mix. Product cannibalization examples.

Markdowns 41

Markdowns Promotions Fashion Consumer 41

Wiser

JULY 14, 2020

You develop a product, produce it, promote it, and sell it. In this article, we’ll look at what pricing strategy actually is, some different pricing models, and how you can think about your pricing strategy to facilitate long-term profitability and growth. We tend to think of pricing as its own distinct practice. Penetration Pricing.

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Bundled Pricing Markdowns Consumer Marketing 128

Retalon

APRIL 27, 2021

Although e-commerce gets all of the attention, the past two decades of technological change have transformed every aspect of the retail business — from planning, inventory, pricing, and promotions — all the way down to customer service and the in-store experience. to optimize inventory for gross margins.

Fulfillment 41

Fulfillment Markdowns Promotions Returns 41

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?

Planning 41

Planning Markdowns Accounting Shipping 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. Replenishment seeks to ensure that the right product is on the shelves at the right time for the consumers to maximize sales & minimize costs. Periodic Strategy.

Inventory Management 47

Inventory Management Fulfillment Markdowns Location 47

RETAIL MANAGEMENT SOFTWARE

MARCH 11, 2022

Use and analyze the past seasonal orders to determine how to price products- By using the data, look at previous seasons to guide your pricing decisions. Instead of simply repeating the same quantities, look at which products were the best and worst sellers and order accordingly.

Inventory Management 92

Inventory Management Management Inventory Turnover Drop-Shipping 92

Retail Adventures

JANUARY 1, 2024

Add your telephone number and web address in 10-14” white reflective vinyl letters at the center bottom of your main windows. Light your window displays at night. This is especially important if your store is located in an area where people tend to walk, and areas populated with restaurants and bars. Check your sight line.

Promotions 52

Promotions Returns Cross Merchandising Markdowns 52

Retalon

FEBRUARY 13, 2018

Business Intelligence (BI) and traditional forecasting methodology can provide visibility into a retailer’s past sales, promotions, stock levels, and more. 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

SEPTEMBER 13, 2015

In today’s omnichannel retail world, the best way to improve KPIs and meet yearly objectives is by adopting a predictive analytics solution that can forecast true demand, accurately allocate inventory, optimize promotions, and balance inventory and assortment between stores while being in tune with individual business goals. Promotion Lift.

Markdowns 32

Markdowns Promotions Customer Experience Fulfillment 32

Retalon

FEBRUARY 13, 2018

Business Intelligence (BI) and traditional forecasting methodology can provide visibility into a retailer’s past sales, promotions, stock levels, and more. 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

Business Intelligence (BI) and traditional forecasting methodology can provide visibility into a retailer’s past sales, promotions, stock levels, and more. 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

SEPTEMBER 13, 2015

In today’s omnichannel retail world, the best way to improve KPIs and meet yearly objectives is by adopting a predictive analytics solution that can forecast true demand, accurately allocate inventory, optimize promotions, and balance inventory and assortment between stores while being in tune with individual business goals. Promotion Lift.

Markdowns 32

Markdowns Promotions Customer Experience Fulfillment 32

Retalon

SEPTEMBER 13, 2015

In today’s omnichannel retail world, the best way to improve KPIs and meet yearly objectives is by adopting a predictive analytics solution that can forecast true demand, accurately allocate inventory, optimize promotions, and balance inventory and assortment between stores while being in tune with individual business goals. Promotion Lift.

Markdowns 32

Markdowns Promotions Customer Experience Fulfillment 32

Retalon

MARCH 9, 2021

At the same time, defining your new product pricing strategy is exciting for a very different reason. Low prices leave little room for promotions or end-of-lifecycle markdowns. Without the right tools, looking at your historical sales may not give you any insight into the optimal new product pricing strategies.

Bundled Pricing 41

Bundled Pricing Promotions Markdowns Advertising 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.

Merchant Services 41

Merchant Services Markdowns Promotions Location 41

Wiser

OCTOBER 13, 2020

Every retailer has multiple brands that are vying for shelf space and promotional efforts. It’s critical that you promote your brand to retailers so they choose to favor you over the crowd. Trade promotions are one of the best ways to do that. What is a Trade Promotion? Trade promotions can take several different forms.

Promotions 78

Promotions Visual Merchandising Markdowns Wholesale 78

Retalon

AUGUST 22, 2023

The Art and Limitations of Traditional Retail Merchandise Planning Merchandise planning sits at the core of retail success. The legacy approach: At its essence, traditional merchandise planning uses past performance to predict future demand. Predictive analytics eases these headaches with data-backed guidance at every turn.

Planning 41

Planning Merchant Services Markdowns Consumer 41