Remove Fulfillment Remove Markdowns Remove Returns
article thumbnail

Smart supply chains tackle labour, inventory and fulfilment challenges

Inside Retail

This can lead to inconsistencies in fulfilment and customer experience. It delivers high levels of pick and stock accuracy, streamlines order processing, and supports reliable fulfilment. This reduces returns, builds customer trust, and improves forecasting. This highlights the real cost of fulfilment inefficiencies.

article thumbnail

How Retailers Can Minimize Returns: Focus on Convenience, Communication and Personalization

Retail TouchPoints

Returns are, like it or not, as much a part of retail operations as the sales themselves. The exact return rate varies among different verticals and individual retailers, but online sales consistently generate higher levels of returns compared to brick-and-mortar. That means you’re out of business.

Returns 263
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Preparing for the Rise in Online Retail Returns

Retail TouchPoints

In 2021, returns cost retailers a whopping $761 billion , or almost 17% of total U.S. This year the powerful combination of the special sale dates in Q4 (like Target, Amazon and Walmart holding October Black Friday events) and an increase in ecommerce holiday shopping means that this upward trend for returns will continue.

Returns 306
article thumbnail

How AI is Revolutionising the Retail Sector

Retail Focus

This reduces overstocking and the need for massive markdowns. AI robotics and warehouse automation can significantly improve order fulfilment speed and accuracy. AI tools also automate merchandising, retrieving customer data, audit compliance, analysing returns, and other routine processes.

article thumbnail

Mejuri Leverages Real-Time Profitability Data to Inform Decision-Making

Retail TouchPoints

SoundCommerce allows us to track the exact impact of these variables on our profitability as we make real-time decisions regarding assortment, promotions, inventory, marketing and fulfillment.” SoundProfit 360 collects and processes revenue and cost data in real time from every system across the enterprise,” explained Best.

Markdowns 251
article thumbnail

How RFID Powers Retail: Past, Present and Future

Retail TouchPoints

Early adopters have proven that the technology can provide a significant return on investment. Additionally, it boosts sales margins and expedites returns and exchanges, making it a valuable tool for profitably improving the consumer experience. This helps a retailer maximize full price sales opportunities and reduce markdowns.

article thumbnail

As Consumer Demand for Inclusion Rises, Retailers Must Tackle Legacy Issues and Attitudes

Retail TouchPoints

There is no standardization across the industry and inconsistent sizing leads to markdowns and returns. When brands and retailers try to bring extended sizing to market, they need to determine how many SKUs they need to allocate to specific stores to accommodate in-store shopping and online fulfillment. Challenge 3: Pricing.

Consumer 290