Retail TouchPoints

MARCH 14, 2023

Managing them correctly is just as important as any other part of the customer journey. Returns are essentially the last link to the circle that closes the consumer loop when it comes to a decision.” When it’s out of season, they have to do markdowns, so it starts a vicious cycle. That means you’re out of business.

Returns 220

Returns Markdowns Fulfillment Consumer 220

Retail TouchPoints

SEPTEMBER 8, 2023

According to a recent survey , 38% of retailers are worried about meeting consumers’ fast delivery expectations. And although omnichannel fulfillment is growing in importance, they still want to drive offline sales and bring people into the store, while also minimizing the impact of shipping costs on their bottom line.

Merchant Services 202

Merchant Services Shipping Fulfillment Markdowns 202

Retail TouchPoints

AUGUST 19, 2021

Back-to-school surveys across the retail sector point to a strong season, spurred by pent-up consumer demand. Jeff Orschell, EY’s Americas Consumer Retail Leaders, noted that global data as well as the firm’s consumer research point to demand remaining elevated, despite the uncertainties. ADDITIONAL LISTENING: 2.

ATS 299

ATS Markdowns Consumer Social Commerce 299

Retail TouchPoints

JULY 31, 2023

Inventory distortion, whether it’s out-of-stocks or overstocks, are a huge and costly challenge for retailers and suppliers, and too often a source of great inconvenience to consumers. Theft has contributed $379 billion this year: nearly $203 billion by consumers and approximately $175 billion by employees.

Markdowns 220

Markdowns Shipping Fulfillment Consumer 220

RETAIL MANAGEMENT SOFTWARE

MARCH 11, 2022

Do you know how to manage your inventory as effectively as possible? What are the inventory management best practices? If you can’t answer these questions, it’s time to reconsider how you manage your inventory. Inventory management best practices enable you to run your business most effectively and profitably.

Inventory Management 92

Inventory Management Management Inventory Turnover Drop-Shipping 92

Retail TouchPoints

NOVEMBER 3, 2020

Retailers, particularly those in the apparel, footwear and soft goods verticals, have an opportunity to turn the lemons from COVID-19 into lemonade, according to Keith Jelinek and Richard Maicki, Managing Directors in the Performance Improvement Practice of Berkeley Research Group (BRG). Richard Maicki. Keith Jelinek.

Drop-Shipping 183

Drop-Shipping Merchant Services Fulfillment Shipping 183

Retail TouchPoints

JUNE 26, 2023

Get ready, get excited, retailers and customers alike, the 2D barcode, a compact square label with splotches and spaces that encode up to 350X more data than a traditional UPC (4,000 characters) will have a significant impact on managing the business and delivering better customer experiences. Who doesn’t want that?

Merchant Services 269

Merchant Services Inventory Management Grocer Customer Experience 269

Retail TouchPoints

FEBRUARY 12, 2021

According to the researchers at the Auburn University RFID Lab, a typical brick-and-mortar retailer without RFID has about 60% SKU-level accuracy, which is simply not acceptable anymore to keep up with consumer demands for speedy fulfillment and a wide product selection. RFID can raise inventory visibility up to 99%. RFID and Beyond.

Fulfillment 236

Fulfillment Markdowns Inventory Management Customer Experience 236

Retail TouchPoints

SEPTEMBER 29, 2022

There are signs of a disconnect between consumers and retailers when it comes to sustainability. A recent report has found that two-thirds of consumers are willing to pay more for sustainable products than retailers expect — and reveals that consumer preference for recommerce models is also being underserved. A Starting Point.

Fast Fashion 331

Fast Fashion Fashion Markdowns Consumer 331

Retalon

APRIL 21, 2021

Omnichannel order fulfillment that drives customer experience (and boosts profits). Consumer expectations have evolved in the digital age, and retailers are now offering a multitude of flexible order delivery methods such as “Buy online, pick up in-store”, “curbside pickup”, “order in store, deliver home” and more.

Fulfillment 41

Fulfillment Drop-Shipping Shipping Returns 41

Mass Relators

MARCH 5, 2024

Target said it maintained appropriate inventory levels by category throughout the year, resulting in lower markdown rates, more effective operations, and stronger in-stock measures compared with 2022. The company’s efficiency efforts delivered savings of more than $500 million in 2023, and cash from operations more than doubled from $4.0

Markdowns 52

Markdowns Fulfillment Marketing Management 52

Retalon

DECEMBER 8, 2021

Why should retailers care about their Order Fulfillment Process? Order fulfillment may seem like a fairly straightforward process and according to the generic “high-level” definition, it is. In today’s market, putting the right fulfillment system in place gets you a competitive edge. What is order fulfillment?

Merchant Services 41

Merchant Services Fulfillment Drop-Shipping Shipping 41

Retail TouchPoints

NOVEMBER 8, 2022

But the truth is that we live in an increasingly “instant gratification hustle culture,” where consumers know precisely what they want and have high expectations. Using AI for search, merchandising and personalization is necessary to deliver a great customer experience and provide consumers with what they want.

Returns 285

Returns Markdowns Inventory Management Customer Experience 285

Inside Retail

JULY 6, 2022

Emerging improvements in automated planning systems are now being used to address the inherent complexities and challenges in supply chain management, supporting retailers in previously unimaginable ways and profoundly mitigating ongoing supply chain risks.

Planning 130

Planning Supply Chain Management Markdowns Management 130

365 Retail

FEBRUARY 17, 2022

Californian lifestyle fashion brand, Pacsun , doubled its ship completes by better anticipating online demand and intelligently leveraging its stores as ecommerce fulfilment centres, partnering with antuit.ai , a leader in AI-powered SaaS solutions for consumer products and retail insights and now part of Zebra Technologies.

Markdowns 52

Markdowns Fulfillment Shipping Fashion 52

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. Price Elasticity of Demand.

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. Indicators you’re managing bad inventory. Drastic Markdowns. Last minute markdowns that offload stock at a loss. A high cost of overstock management. Bad inventory is an expensive problem.

Inventory Turnover 41

Inventory Turnover Management Inventory Management Dead-Stock 41

365 Retail

DECEMBER 5, 2022

Technology has advanced significantly and with brands now moving into their busiest season, consumers will continue to opt for convenient shopping both online and on the high street for the ideal purchase. . Fulfilment execution. How to excel in Fulfillment Execution for retailers. These are: Touchless interactions.

Dead-Stock 52

Dead-Stock Fulfillment Markdowns Shipping 52

Retalon

NOVEMBER 11, 2021

The pressure for transformation is coming from all sides, as consumers expect a more streamlined shopping experience, workers expect flexibility and modernity, and competitors like Amazon win more market share using cutting edge tech as their advantage. Digital transformation has changed the way consumers shop and how retailers operate.

Fulfillment 41

Fulfillment Markdowns Promotions Shipping 41

Retalon

AUGUST 14, 2023

Inventory management, order fulfillment, and sales data are integrated in one centralized system instead of siloed by channel. Why Omnichannel Ecommerce Strategy is Important for High-Revenue Retailers Omnichannel strategy is especially crucial for high-volume retailers managing millions in revenue.

Markdowns 41

Markdowns Customer Experience Shopping Planning 41

Retalon

FEBRUARY 15, 2022

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. Order fulfillment becomes more efficient; meeting consumer expectations by enabling lower shipping costs, faster fulfillment, and a greater variety of fulfillment options.

Markdowns 41

Markdowns Inventory Turnover Fulfillment Accounting 41

Retalon

SEPTEMBER 29, 2014

Many of them have to do with how consumers use technology to make a purchase. Meanwhile, mobile technology has surged allowing consumers to go shopping on their personal device from their pocket at anytime. What retailers need is a strategy to allow stores to become fulfillment centers. Sears just needed a delivery strategy.

Fulfillment 36

Fulfillment Markdowns Shipping Inventory Management 36

Retalon

SEPTEMBER 29, 2014

Many of them have to do with how consumers use technology to make a purchase. Meanwhile, mobile technology has surged allowing consumers to go shopping on their personal device from their pocket at anytime. What retailers need is a strategy to allow stores to become fulfillment centers. Sears just needed a delivery strategy.

Fulfillment 32

Fulfillment Markdowns Shipping Inventory Management 32

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 stock?

Inventory Management 47

Inventory Management Fulfillment Markdowns Location 47

Retalon

NOVEMBER 29, 2014

Many of them have to do with how consumers use technology to make a purchase. Meanwhile, mobile technology has surged allowing consumers to go shopping on their personal device from their pocket at anytime. What retailers need is a strategy to allow stores to become fulfillment centers. Sears just needed a delivery strategy.

Fulfillment 32

Fulfillment Markdowns Shipping Inventory Management 32

Retalon

SEPTEMBER 22, 2021

A retail fulfillment process that is known as BOPIS — Buy Online, Pickup In-Store. During the pandemic, BOPIS retail fulfillment options kept businesses running while limiting person-to-person contact – which was essential during the pandemic. So, if it isn’t already. What is BOPIS? Why are customers choosing BOPIS?

Fulfillment 41

Fulfillment Payment Services Inventory Management Shipping 41

Retalon

APRIL 27, 2021

In effect, this means a reduction of total inventories, maximized sales, and reduced markdowns. According to Digital Commerce 360 , American consumer online spending in 2020 increased 44% to $861 billion. While at the same time adding to the online fulfillment system, by providing in-store pickup and local same-day delivery.

Fulfillment 41

Fulfillment Markdowns Promotions Returns 41

Retalon

SEPTEMBER 11, 2020

Often resulting in inventory distortion that lead to lost sales and costly markdowns. Traditional analytics relies too much on past sales to plan and manage inventory. For instance, many retailers run promotions while lacking integration between promotion and inventory management processes. Your business changes year to year.

Fashion 41

Fashion Markdowns Promotions Accounting 41

Retalon

AUGUST 14, 2023

For instance, the e-commerce team might be trying to run a promotion while stores have inadequate inventory to fulfill demand. As consumer behaviors and expectations rapidly evolve, these systems cannot keep pace. Enhanced Gross Margins Traditional forecasts are often inaccurate, leading to steep markdowns.

Payment Services 41

Payment Services Fulfillment Planning Markdowns 41

Retalon

JANUARY 5, 2021

An inaccurate forecast, unpredictable changes to consumer preferences, shifts in the competitive landscape, or major economic events can all completely throw your planning and purchasing off-track, leaving you with major inventory distortions despite your best plans. Optimizing your inventory balancing process is key to increasing ROI.

Location 41

Location Inventory Management Markdowns Fulfillment 41

Retalon

AUGUST 20, 2019

The internet has indisputably created new opportunities for retailers to reach consumers. This has spurred a lasting debate about whether or not brick-and-mortar stores will remain relevant as more and more consumers subscribe to the convenience of shopping online. – Consumer preference. – Tangible interactions (i.e.

Fulfillment 32

Fulfillment Comparison Shopping Markdowns Promotions 32

Retalon

AUGUST 20, 2019

The internet has indisputably created new opportunities for retailers to reach consumers. This has spurred a lasting debate about whether or not brick-and-mortar stores will remain relevant as more and more consumers subscribe to the convenience of shopping online. – Consumer preference. – Tangible interactions (i.e.

Fulfillment 32

Fulfillment Comparison Shopping Markdowns Promotions 32

Retalon

AUGUST 16, 2019

In any business undertaking that caters to a consumer marketplace, there are two major challenges – delivering an experience that feels personalized to shoppers, while simultaneously creating a consistent experience across retail locations and channels so that customer can enjoy the comfortable familiarity of your brand.

Customer Experience 32

Customer Experience Fulfillment Markdowns Consumer 32

Retalon

AUGUST 16, 2019

Any business that caters to a consumer marketplace deals with 2 common challenges. It’s a balancing act that grows more challenging as the retail industry continues to evolve, increasing consumers options and placing pressure on retailers to accommodate them. This balance act can prove to be very tricky.

Fulfillment 32

Fulfillment Customer Experience Markdowns Consumer 32

Retalon

APRIL 14, 2021

A successful assortment strategy will need to take many different elements into consideration from a retailer’s identity and vendors, to store capacities, consumer demand, and profitability. Your overall assortment doesn’t matter to the individual customer — only the assortment of items that fulfill the above criteria.

Markdowns 41

Markdowns Planning Location Accounting 41

Retalon

JULY 15, 2019

Not only do overstock situations force retailers to markdown inventory at the end of a season at slim-to-no profit margins, but it also takes up physical space in stores warehouses, accruing carrying costs, and ties up extra cash that could be used towards advancing business goals. 3. Logistics and fulfillment challenges.

Markdowns 32

Markdowns Promotions Inventory Management Planning 32

Indigo 9 Digital

SEPTEMBER 1, 2022

That means if there is slow moving merchandise the retailer doesn’t have to worry about taking markdowns to sell the inventory. Consumers today want to choose how they receive their online orders and often they choose to pick up orders in person. 57% of Amazon’s unit sales in come from third party sellers on its platform.

Drop-Shipping 95

Drop-Shipping Markdowns Planning Grocer 95