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Inventory Management Tips for Retailers to Reduce Overstock and Increase Profits

RETAIL MANAGEMENT SOFTWARE

Whether you’re selling sneakers, sofa sets, or fine jewelry, carrying too much stock ties up cash, eats up space, and leads to markdowns. According to the National Retail Federation (NRF), retailers lose an estimated $50 billion annually due to inventory distortion, which includes overstock and out-of-stock issues. So, why wait?

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How Data and Tech Power Jewelry Brand Pandora’s Mission to ‘Give a Voice to People’s Loves’

Retail TouchPoints

Source: Pandora) Best known for its charm jewelry, the “affordable luxury” brand sells more than 100 million pieces every year, making it the largest jewelry brand in the world by volume. Globally, 80% of women are familiar with the brand and 30% of them own a Pandora item, so the stakes for the brand’s digital transformation are high.

Jewelry 283
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How Brands Can Turn Viral Moments into Lasting Consumer Loyalty

Retail TouchPoints

Managing Viral Product Moments: A New Challenge With social media driving many purchasing decisions for younger consumers, the possibility of a product going viral is both a massive opportunity and a logistical challenge. Effective management of these moments requires more than just logistics. The key lies in preparation.

Consumer 277
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Rogers & Hollands Boosts Customer Service With Mobile POS System

Retail TouchPoints

Rogers & Hollands , an omnichannel jewelry retailer, recently implemented Oracle Retail Xstore Point-of-Service throughout its more than 70 stores. BTM Global was instrumental in helping us rapidly deploy the new mobile retail POS and driving quick wins to evolve our in-store guest experience.”.

Jewelry 278
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Nordstrom Issues Supplier Mandate for RFID Tagging

Retail TouchPoints

Products that do not yet require RFID are mostly cosmetics, along with some household products and jewelry. “By improving inventory management through RFID technology, both retailers and suppliers can aim for increased sales due to a more accurate supply chain,” said Michael Brown, President of Pax Tag & Label.

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Paper Store POS Upgrade Untethers Associates, Boosts Productivity

Retail TouchPoints

The Paper Store promises top-notch customer service in its 100+ brick-and-mortar stores, with associates helping shoppers choose from its widely varied assortment of apparel, accessories, jewelry, water bottles and even packaged food from Stonewall Kitchen (along with paper, pens and school supplies, of course).

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Holiday 2022 Recap: Promotions, BOPIS Drove Late-Season Engagement as Overall Growth Slowed

Retail TouchPoints

lift, although another expensive category, jewelry, landed in the 2.4X Retailers should also continue to focus on inventory management, monitoring the availability of goods and stability of key suppliers, and most importantly, cash flow projections (cash will always be king!).”. By comparison, electronics saw a 1.4X