Retail Smart Guys

SEPTEMBER 12, 2023

Inventory managers equipped with strong people skills can adeptly manage customer inquiries, address complaints, and handle special requests with empathy and professionalism. A satisfied customer is more likely to become a loyal one and recommend your business to others, thus bolstering customer retention. Start today!

Inventory Management 105

Inventory Management Management Markdowns Customer Retention 105

Wiser

NOVEMBER 29, 2023

Trade spend is employed in trade promotion in several ways: Discounts and Special Offers: Brands often provide markdowns on their products to retailers. These strategies can significantly enhance customer retention and create positive brand associations in the minds of the consumers.

Promotions 146

Promotions Consumer Wholesale Advertising 146

V Count

OCTOBER 5, 2022

When possible, avoid markdowns because they are good for decreasing profits. You will be able to sell more products and minimize the need for markdowns because of these better judgments regarding purchases, sales, and marketing. Focus on customer retention rather than acquisition. How do you accomplish that?

Customer Retention 52

Customer Retention Markdowns Bundled Pricing Net Profit 52

Retalon

AUGUST 5, 2020

Retailers must maintain a healthy In-Stock Percentage for every product at every store, in order to avoid out-of-stocks, lost sales, failed promotions, and costly markdowns. This avoids markdowns that cut into profit margins. Customer Lifetime Value Benchmark Example. In-Stock Percentage Benchmark Example.

Inventory Turnover 41

Inventory Turnover Promotions Merchant Services Markdowns 41