Retail Focus

DECEMBER 8, 2021

The UK’s cost of living squeeze is making Millennials and younger demographics more sensitive to pricing and promotions, the latest research from antuit.ai , the leader in SaaS Artificial Intelligence (AI) demand forecasting solutions, reveals. Original research of over 2,000 UK shoppers by antuit.ai

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Markdowns Promotions Consumer Fashion 147

Retail TouchPoints

SEPTEMBER 15, 2020

COVID-19 has massively influenced consumer behavior, and the economic fallout has had a huge impact on the role of price perception. As a result, consumer behavior has become harder to predict across multiple locations, which makes zone pricing a must for retailers. Within the U.S.,

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Retail TouchPoints

MARCH 3, 2023

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. We were competitive but measured in our promotions, took strategic markdowns and intentionally did not chase unprofitable sales. during Q4, but they were up 0.6%

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Retail TouchPoints

NOVEMBER 3, 2020

By creating narrower product assortments and limiting inventory levels — especially for product shipments headed to brick-and-mortar stores —merchants would gain the ability to react more quickly to changing consumer trends, and even potentially reduce their need for markdowns. Richard Maicki. Keith Jelinek.

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Retail TouchPoints

SEPTEMBER 8, 2023

According to a recent survey , 38% of retailers are worried about meeting consumers’ fast delivery expectations. And the retailer’s ability to serve up an “In Stock” button and the speed of delivery promise when consumers browse online has been shown to drive both online and in-store purchases.

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Retail TouchPoints

APRIL 6, 2022

Skyrocketing ecommerce adoption means that consumers today browse an endless number of websites. Shoppers should be able to quickly locate pertinent product information. Time-sensitive or exclusive items can be promoted on an aisle endcap. A real-time stock indicator can be leveraged to show how few might be available.

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Retail Adventures

SEPTEMBER 28, 2020

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. Some apps have GPS and will send you an offer if you are near one of their locations or shopping at a competitors’ store. Not this year!

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Inside Retail

JUNE 20, 2023

Instead of personalising creative and messaging for a segment of consumers, it can be precisely targeted to a single customer based on logic and observed behaviours and needs. GenAI can adapt pricing strategies and offers to customers by analysing market data, competitive pricing and consumer behaviour.

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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.

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Retalon

MAY 10, 2024

The goal of the budget is to purchase the necessary quantities of products that will satisfy consumer demand. Anticipate the activities for the sales period: If you are aware of upcoming promotional activities, you’ll need to adjust to reflect demand accordingly. To learn more, check out our article on demand planning.

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Retalon

MAY 10, 2024

The goal of the budget is to purchase the necessary quantities of products that will satisfy consumer demand. Anticipate the activities for the sales period: If you are aware of upcoming promotional activities, you’ll need to adjust to reflect demand accordingly. To learn more, check out our article on demand planning.

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Wiser

AUGUST 25, 2020

You want your merchandisers on board with your strategy and ready to enter your locations to set up any displays as shoppers come back. 4: Use Promotions and Markdowns to Move Seasonal Inventory. We recommend using promotions and markdowns to move that inventory quickly. 5: Lean Into Omnichannel Retail.

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

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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. For instance, introducing a new shampoo using a lower price promotion might cannibalize sales from shampoo inventory already on the shelf. Let’s find out.

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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.

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Retalon

JUNE 10, 2020

Get Granular With Unique Product / Locations What does this mean for price planning? Optimize Prices for Each PLC Stage Product Introduction (Initial Pricing) In-Season Promotions End of Product Life Cycle What does this mean for price planning? Demand is the total consumer desire to purchase a specific product.

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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. When Inventory is proactively allocated among locations to meet demand, customers are not repeatedly met with empty shelves pushing them to other retailers.

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Wiser

JULY 14, 2020

You develop a product, produce it, promote it, and sell it. A pricing strategy is a model that determines the best way to align the prices of a company’s products or services with its business goals, product attributes, and consumer demands. We tend to think of pricing as its own distinct practice. Is it a high-end product?

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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. This is how consumer demand will react to a change in price.

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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. Chances are that consumers will choose the cheaper product over a more expensive brand. Let’s dig a little deeper to find out what they are.

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Retalon

OCTOBER 8, 2020

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. As unsold boxes pile up, they consume shelf space that could be holding better-selling products. Last-minute rush orders may “save” the promotion.

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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. This approach is inaccurate, inconsistent and labor-consuming. . Everything you need to know about product clustering / grouping. Examples of product clusters .

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Retalon

MAY 25, 2020

This strategy of incremental markdowns is also used as a product is nearing the end of its season. Therefore it makes sense to introduce a product at a higher price, observe the reaction from consumers and then gradually decrease the price to increase demand/sales. Reducing prices may damage the perception of luxury among consumers.

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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.

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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. What is replenishment time?

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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. 5. Failed retail promotions.

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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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Retail Adventures

AUGUST 16, 2022

Big retailers tend to kick off holiday sales in July, but the day after Thanksgiving is still important to consumers. Place carts and baskets in key locations throughout the sales floor, not just near the door. Spinner racks located near the cash wrap work, too. Your store must be open on Black Friday.

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RETAIL MANAGEMENT SOFTWARE

MARCH 11, 2022

It is beneficial to exhaust your resources first, so you don’t end up with the excess products in one store that you eventually have to markdown. Offering discounts and promotions are effective methods for moving stagnant inventory through the purchase cycle.

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Retalon

AUGUST 5, 2020

Navigating changing consumer tastes and the evolving technology landscape has always made retail a challenging industry. How effective are their promotional campaigns? Promotions Uplift Retail KPIs that Answer Questions About Customer Behavior 8. Most Important KPIs for the Retail Industry in 2020. In-Stock Percentage 2.

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Retalon

AUGUST 22, 2023

With shifting consumer trends and preferences, retailers need agile planning approaches that can pivot to align with changing times. But solely relying on the rearview mirror limits agility in adapting to changes in consumer behavior, emerging trends, and market conditions. They were data rich but information poor.

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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.

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Retalon

APRIL 21, 2021

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. So how can retailers offer these options to consumers while lowering their costs?

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Retail Adventures

OCTOBER 22, 2020

Even though Amazon kicked off Holiday 2020 in mid-October and Walmart and Target followed suit, Black Friday is still important to consumers. Place carts and baskets in key locations throughout the sales floor, not just near the door. Spinner racks located near the cash wrap work, too. Add a sign recommending gift cards.

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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.

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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.

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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.

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