article thumbnail

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. Experiment with markdowns, flash sales, or multi-buy offers like BOGO or “Buy 3, Get 1 Free.” However, in reality, it’s a silent drain.

article thumbnail

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

Retail TouchPoints

Like many brands dealing with COVID-19, DTC jewelry brand Mejuri was forced to focus intently on its online operations this year. The company decided to invest in technology that would help it harness the power of data to improve its customer insights and the shopper experience. “At

Markdowns 251
Insiders

Sign Up for our Newsletter

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

article thumbnail

Luxury shoppers turn to TikTok for product discovery

Retail Dive

However, ultra-luxury items, jewelry, apparel and eyewear are expected to remain strong, according to the report. As luxury shoppers sour on the economy, their spending on high-priced items is predicted to contract. Purchases of personal luxury items could decline between 2% and 5% this year , a Bain & Company report projects.

article thumbnail

15 Things to Do RIGHT NOW to Get Your Store Ready for Holiday 2020

Retail Adventures

Think of your cashwrap as another important display area and tastefully load it up with candles, accessories, jewelry – anything that will appeal to an impulse shopper. Be prepared for markdowns and returns. Remember that the first markdown is always the cheapest one to take, so take a deep breath and price to sell.

article thumbnail

Shane Co. Increases Sales by 20% While Significantly Reducing Inventory

Retalon

the largest privately owned jewelry retailer in America, has implemented Retalon’s Inventory and Assortment Management solution to maintain product assortment and inventory levels across all channels. We have thousands of jewelry products and loose gemstones that all have a unique SKU number,” said Tom Shane, the Chairman of Shane Co. .”

Jewelry 32
article thumbnail

Shane Co. Increases Sales by 20% While Significantly Reducing Inventory

Retalon

the largest privately owned jewelry retailer in America, has implemented Retalon’s Inventory and Assortment Management solution to maintain product assortment and inventory levels across all channels. We have thousands of jewelry products and loose gemstones that all have a unique SKU number,” said Tom Shane, the Chairman of Shane Co. .”

Jewelry 32
article thumbnail

Realizing the Potential Business-Specific Analytics in Fashion Retail (2021)

Retalon

Jewelry retailers need to determine the right assortment mix that offers a good selection while having the right depth of inventory for each SKU. Retalon automatically suggests the optimal size distribution for all fashion products to make sure they are not left with fringe sizes at the end of the season significantly reducing markdowns.

Fashion 41