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. “Shopper behavior is also less predictable today, requiring more creative experimentation in merchandising and marketing.

Markdowns 185

Markdowns Fulfillment Shipping Marketing Spend 185

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 261

Markdowns Operating Expenses Department Stores Planning 261

Retail TouchPoints

APRIL 6, 2022

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. An item’s popularity or novelty can be communicated via badges that read “best seller,” “newly added,” or even “new markdown.”

Checkout 274

Checkout Markdowns Apparel Promotions 274

Independent Retailer

DECEMBER 23, 2022

Wholesale inventory bloat, combined with a softening demand in the economy, is taking its toll on cash flow and earnings at retailers. . Madhav Durbha, VP supply chain strategy at Coupa , said. Offer Promotions & Product Markdowns. Return for a Refund or Credit. Offer Promotions & Product Markdowns.

Inventory Management 76

Inventory Management Wholesale Management Markdowns 76

Retail Adventures

JULY 13, 2021

Plan Events & Promotions: You have competition coming at you from all sides, all vying for the customers’ attention. Make Sure Your Return Policy is Competitive. If every one of your competitors accepts returns and exchanges but your policy screams NO! Be Prepared for Markdowns. Start here: 1. Or strategy.

Markdowns 98

Markdowns Returns Planning Promotions 98

Wiser

APRIL 13, 2021

At the risk of oversimplification, these are the two buckets that make up your eCommerce traffic. There are times when you want to switch up prices more often, such as a promotional period or holiday season. Penetration pricing is all about pricing low to increase sales at the expense of margins. Quantity or quality.

Markdowns 148

Markdowns Promotions Drop-Shipping Advertising 148

Inside Retail

JULY 4, 2023

The company believes, publicly at least, that a corner has been turned and it is beginning to strut again, if not going so far as to thump its chest. Trying to get insight into how the underlying China business is really going, however, is like looking at an old Polaroid that’s been left in the sun.

Markdowns 147

Markdowns Apparel Wholesale Advertising 147

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. As we head into summer and fall, be ready with one major and one to two minor events locked and loaded on your promotional calendar.

Markdowns 90

Markdowns Returns Promotions Planning 90

Retail Adventures

JULY 1, 2020

Continue to Plan Events & Promotions: You have competition coming at you from all sides, all vying for the customers’ attention. Make Sure Your Return Policy is Competitive. If every one of your competitors accepts returns and exchanges but your policy screams NO! Be Prepared for Markdowns. Start here: 1.

Markdowns 83

Markdowns Returns Planning Promotions 83

Wiser

MARCH 17, 2020

They might also believe the specific price demonstrates greater value or a markdown. Pricing something at $19.95 There’s also the promotional aspect of it. ” Looking at other types of psychological pricing, you’ll see other strategies that can have the same positive effect on consumers. instead of $20.00

Markdowns 135

Markdowns Consumer Retailing Pricing Promotions 135

365 Retail

OCTOBER 29, 2021

Retailers are increasingly embracing AI-based solutions for full lifecycle pricing, that provide price, promotion and markdown optimization that keeps pace with rapidly changing competitor, market and shopper behaviours that cannot be predicted by just looking at the past.

Markdowns 52

Markdowns Promotions Planning Management 52

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. There’s more to it.

Markdowns 41

Markdowns Inventory Management Promotions Planning 41

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

NOVEMBER 11, 2021

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.), Advanced analytics tools can pinpoint demand for a specific SKU at a specific location or channel.

Fulfillment 41

Fulfillment Markdowns Promotions Shipping 41

Independent Retailer

AUGUST 19, 2022

Keith Daniels, Partner at Carl Marks Advisors , advises brands to focus on merchandise that turns quickly and has performing margins in order to survive the holiday season. Whether you decide to promote your loyalty program, increased rewards, sales, or discounts, you need to stay competitive in order to stay in the game.

Shipping 85

Shipping Merchant Services Consumer Returns 85

Retalon

MARCH 2, 2021

What channels do you promote through? How do you handle returns? 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? Last Year’s Data is Unreliable.

Fashion 41

Fashion Markdowns Promotions Accounting 41

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. While you are still at the front of your store check its sight line – you want shoppers to be able to see into and through the sales floor. Check your sight line.

Promotions 52

Promotions Returns Cross Merchandising Markdowns 52

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

Retalon

APRIL 21, 2021

Maintaining margins within business constraints while efficiently providing order fulfillment to customers is a tall order, especially considering each customer purchase requires a real-time fulfillment decision within a shifting context of inventory, demand, returns, delivery times, and shipping costs. Will you deny returns at a store level?

Fulfillment 41

Fulfillment Drop-Shipping Shipping Returns 41

Retail Adventures

AUGUST 25, 2021

Social distancing, masks, a limited number of people in your store, plexiglass shields at the cashwrap, cleaning the sales floor as necessary, and hand sanitizers will be with us for a while. Add your telephone number and web address in 10-14” white reflective vinyl letters at the center bottom of your main windows.

Returns 83

Returns Cross Merchandising Promotions Marketing 83

Retalon

SEPTEMBER 1, 2020

Without historical data to draw upon, how do you predict the best way to allocate them to stores, pricing, promotional demand, and balance online versus in-store sales? The traditional approaches to estimating demand only hint at how a particular product will perform. – all costly mistakes.

Promotions 41

Promotions Markdowns Inventory Management Accounting 41

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. It used to be that consumers mostly shopped at stores geographically close to them. How complicated is the returns process? What is order fulfillment? Why is this happening?

Merchant Services 41

Merchant Services Fulfillment Drop-Shipping Shipping 41

Retalon

JULY 4, 2018

Based on the amount of retailers that have been forced to shut their doors in the last three years, there is a major shift that is moving through the retail industry at full force. So what’s the real challenge at hand? Buy in-store, return to another store (46%). Here’s the list of stores closing this year.).

Promotions 32

Promotions Fulfillment Shipping Markdowns 32

Retalon

SEPTEMBER 22, 2021

BOPIS is the most common acronym you’ll see, but you may come across these other variations: BOPAC (Buy Online Pickup At Curb): Focuses on the outside handoff. Customers stay in their vehicles at designated parking spots, and employees bring their purchases out to the car. Payment, return, and exchange policies.

Fulfillment 41

Fulfillment Payment Services Inventory Management Shipping 41

Retalon

AUGUST 20, 2019

Plus, going into a retail store significantly reduces the potential for returns and increases upsell opportunities. If you doubt the benefit of such a strategy, just consider the speed at which Amazon has started to acquire physical locations – over 500, including Wholefoods and book stores. – Promotions, event and markdowns.

Fulfillment 32

Fulfillment Comparison Shopping Markdowns Promotions 32

Retalon

AUGUST 20, 2019

Plus, going into a retail store significantly reduces the potential for returns and increases upsell opportunities. If you doubt the benefit of such a strategy, just consider the speed at which Amazon has started to acquire physical locations – over 500, including Wholefoods and book stores. – Promotions, event and markdowns.

Fulfillment 32

Fulfillment Comparison Shopping Markdowns Promotions 32

Retalon

SEPTEMBER 11, 2020

Demand is an economics concept that describes the willingness of consumers to purchase a specific product at a specific price. Therefore, demand forecasting is a statistical prediction of the willingness of consumers to purchase specific products, at a specific price, in a specific time frame. Demand Forecasting Methodologies.

Payment Services 41

Payment Services Promotions Accounting Fulfillment 41

Retalon

DECEMBER 22, 2014

There are several important trends at play: 1. The marketing and loyalty department provide consumer/promotion data, the POS system provides sales/returns data. The right product, at the right place, at the right time for the right price. How much extra inventory should be ordered for planned promotions?

Dead-Stock 32

Dead-Stock Promotions Fulfillment Markdowns 32

Retalon

DECEMBER 22, 2014

There are several important trends at play: 1. The marketing and loyalty department provide consumer/promotion data, the POS system provides sales/returns data. The right product, at the right place, at the right time for the right price. How much extra inventory should be ordered for planned promotions?

Dead-Stock 32

Dead-Stock Promotions Fulfillment Markdowns 32

Retalon

AUGUST 2, 2019

POS data (sales, returns, etc.). Prices (markdowns, promotions, competitor prices, etc.). At best, they give you a dashboard of conditions right now. How will a promotion during a seasonal peak affect the uplift in demand? Inventory levels (store, warehouse, distribution centers). The result?

Merchant Services 32

Merchant Services Fulfillment Accounting Markdowns 32

Retalon

JANUARY 17, 2022

This is one of the main reasons why leading retailers are bolstering their retail pricing strategy by investing in UPPMO (Unified Price, Promotion, and Markdown) solutions. Pricing is the number one most impactful lever a retailer has to affect GMROI (gross margin return on investment). Let’s find out.

Retailing Pricing 41

Retailing Pricing Markdowns Promotions Accounting 41

Retalon

AUGUST 14, 2023

The goal is to weave these channels together seamlessly so customers can: Purchase online and return in-store Browse in-store and buy online later Have their data and shopping cart synced across all platforms Omnichannel retail delivers convenience, flexibility, and personalization to meet modern customer expectations.

Markdowns 41

Markdowns Customer Experience Shopping Planning 41

Retalon

SEPTEMBER 11, 2020

Often resulting in inventory distortion that lead to lost sales and costly markdowns. The variations in fit and color between brands and styles causes an increase in product returns. The cost of returns alone can make a retailer question the profitability of online stores. Can this be considered a truly successful promotion?

Fashion 41

Fashion Markdowns Promotions Accounting 41

Retalon

AUGUST 5, 2020

How effective are their promotional campaigns? Is the right product getting to the right place at the right time? Promotions Uplift Retail KPIs that Answer Questions About Customer Behavior 8. In particular, effective promotion planning depends on having accurate measurements of In-Stock Percentages. Sales Per Employee 7.

Inventory Turnover 41

Inventory Turnover Promotions Merchant Services Markdowns 41

V Count

OCTOBER 5, 2022

Previously, customers used to shop for particular products at a variety of specialized stores. Additionally, to evaluate the overall health of the retail store, however, one looks at the net profit margin. You may want to sell more of these items or promote them more prominently in your store. Value pricing. Bundle pricing.

Customer Retention 52

Customer Retention Markdowns Bundled Pricing Net Profit 52

Retail Adventures

OCTOBER 22, 2020

Walmart has announced it is offering Black Friday sales beginning online at Walmart.com on Wednesday, November 4. The stores will open at 7:00 AM on Black Friday, the general opening time for the majority of its stores. Use props to create a holiday theme, changing your windows at least once a month during the busy holidays.

Markdowns 98

Markdowns Advertising Planning Cross Merchandising 98

Retail Adventures

AUGUST 16, 2022

You should have at least one event scheduled for each week of the Golden Quarter. Host our Cash Register receipt Auction by encouraging shoppers to save their receipts throughout the holidays because on Tuesday, December 6 th they will be able to redeem them for merchandise at your auction. Plan for impulse purchases at the cashwrap.

Markdowns 52

Markdowns Advertising Planning Cross Merchandising 52