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How AI is set to revolutionise inventory management

Inside Retail

Great product diversity, changing consumer demands, and the expansion of e-commerce have turned inventory management into a major pain point for retailers. Poor inventory management results in overstocking and under-stocking, impaired cash flow, and losses from theft and spoilage. Here are some reasons why: 1.

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Inventory management, inflation ease, and drinking trends - Weekly Snacks #39

Tokinomo

The release was promoted through videos by influencers, including a partnership with TikToker Celina Spooky Boo. Philadelphia recently released a limited-edition product called " A Little Taste of Hell ," which is a cream cheese infused with ghost peppers with a Scoville Heat Unit measurement of 1,041,427.

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

Retail TouchPoints

As expected, promotions played a major role in setting the pace of the latter half of the season, with an average discount rate of 21% in 2022 compared to 19% in 2021, according to Salesforce. Promotions hit their peak during Cyber Week, when the average discount jumped to 30% in the U.S. By comparison, electronics saw a 1.4X

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Nike, Calvin Klein and Other Major Brands in Vietnam Enhance Order and Inventory Management

Retail TouchPoints

For Vietnamese retail management firm Au Chau Fashion and Cosmetic Company (ACFC) , the rapid adoption of online shopping spurred by COVID-19 store closures offered an opportunity to beef up the omnichannel experience across its suite of international brands. .

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7 Tips for Wholesale Inventory Management

Independent Retailer

This is why inventory management is key, especially as retailers look to deal with unsold merchandise after the holidays. “Seemingly overnight, shortages are flipping to inventory surpluses in certain categories. . Offer Promotions & Product Markdowns. Donate Excess Inventory. Liquidate Excess Inventory.

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The ABCs of a Successful Back-to-School Shopping Season

Retail TouchPoints

In 2022, a National Retail Federation/Prosper Insights and Analytics survey indicated that 56% of consumers had started their BTS shopping by early July, with 81% planning to shop sales the week of July 11. Want to Expand Back-to-School Shopping Baskets? Promoting early and often is a major theme for BTS,” said Ellin.

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Smart shopping carts, low-code and robots: Welcome to retail tech in 2023

Inside Retail

From smart shopping carts and intelligent buying assistants, to dynamic pricing algorithms and inventory tracking systems, retailers will have access to a wealth of powerful tools that enhance their ability to meet customers’ needs and respond quickly to changes in the market. . Payment systems evolution.